Zenith Minerals extends near-surface gold zone at Split Rocks
Zenith Minerals chairman Peter Bird said the next drilling program will attempt to “join the dots” of the gold mineralisation currently identified.
Diversified explorer Zenith Minerals (ASX: ZNC) has reported near-surface gold mineralisation at the Dulcie Far North prospect within its Split Rocks gold project in Western Australia has extended over about 1 kilometre north-south.
The first 50 holes drilled in a recently completed 150-hole reverse circulation (RC) program at the project has returned assays including 12 metres at 2.9 grams per tonne of gold and 8m at 1.8g/t gold including 4m at 3.1g/t.
Other significant intersections include 8m at 1.7g/t including 4m at 2.8g/t and 3m at 2.8g/t. In addition, a further seven shallow drill holes ended in gold mineralisation grading more than 0.4g/t gold.
Dulcie Far North was one of six prospects tested in the late 2021 drilling program and these latest results are in addition to assays released in September including 4m at 10.2g/t including 2m at 19.8g/t gold.
Assay results for a further 100 holes from the adjoining Dulcie North, Scott’s Grey, Water Bore, British Hills East and Estrela prospects are still awaited.
Zenith chief executive Mick Clifford said he is very pleased that drilling at Split Rocks has continued to deliver highly encouraging results.
“The new results better define the zone of near-surface gold mineralisation at Dulcie Far North and set up targets for deeper RC drill testing in the bedrock.”
“We are fortunate to have an RC drill rig booked to commence work at Split Rocks in late January and look forward to continued gold exploration success on this project,” Mr Clifford added.
Drilling to resume later this month
RC drilling is scheduled to resume in late January to better define and extend gold mineralisation in the bedrock at Dulcie Far North as well as Dulcie Laterite Pit, Dulcie North and Water Bore.
This follow-up campaign may be expanded pending results from Scott’s Grey, British Hills East and Estrela, Zenith said.
Refocus on lithium
Today’s news comes a few days after the company announced it would refocus on lithium and had signed a new major joint venture with Saudi Arabian company EV Metals Group.
Under the deal, the pair will jointly explore for lithium at Zenith’s Western Australian projects including Split Rocks.
Zenith still plans to explore the gold potential at the project however, with some of the recent $6 million raised by EV Metals’ subscription for Zenith shares going towards the near-term advancement of its gold and base metals projects.
In last week’s announcement of the lithium joint venture, Zenith said it planned to spin-out these gold and base metal assets into one or more new companies to be listed on the ASX.
Zenith’s other gold asset is the Red Mountain project in Queensland.