Zenith Minerals Unearths High-Grade Gold System with Drilling At Red Mountain

Initial assays from the Red Mountain project in Queensland have demonstrated the presence of a high-grade gold system for owner Zenith Minerals (ASX: ZNC).

The first hole of the 2025 drilling program intersected a broad mineralised zone that returned a highest individual hit of 0.8 metres at 37.10 grams per tonne gold, along with intervals of 139.7m at 1.05g/t from 214.9m and 14.2m at 4.62g/t from 276m including 2m at 21.03g/t.

The hole tested the down-dip extension of an earlier intercept of 129m at 0.51g/t gold from 225m, with results showing broader, higher grades than previous drilling and also identifying a nearby semi-massive sulphide vein.

Mt Wright Similarities

Geological observations in core give Zenith confidence that Red Mountain has similarities to the nearby Mt Wright underground mine operated by Resolute Mining (ASX: RSG) from 2006.

During its 11-year mine life, Mt Wright produced more than 1 million ounces of gold from the intrusion-related gold (IRG) system which has a global resource of 9.8Mt at 3.35g/t gold.

Distinct vertical metal zoning characterises the deposit, with lead-zinc-silver mineralisation near the top transitioning into higher-grade gold-copper-bismuth zones at depth.

Encouragingly, Zenith’s first hole also intersected zinc-lead mineralisation across the gold zone, supporting the belief that deeper drilling could reveal similar gold-rich zones.

Promising Initial Exploration

“These are the results we had hoped for — the core looked exceptional and the assays have confirmed it,” Zenith managing director Andrew Smith said.

“We have commenced work on a follow-up hole to test deeper into the system and we anticipate even stronger gold grades.”

Zenith discovered Red Mountain in 2017 and the project has yielded compelling results through multiple exploration phases, confirming its potential as a core gold asset.

The project benefits from existing infrastructure and proximity to other notable gold developments at Mt Wright, Mt Leyshon (owned by Newmont Corporation, ASX: NEM) and Mt Rawdon (Evolution Mining, ASX: EVN), providing logistical advantages and cost efficiencies for future operations.