Drilling Identifies Sub-Vertical High-Grade Gold Zone
Ongoing exploration activity at Zenith Minerals’ (ASX:ZNC) 100% owned Red Mountain gold project located in Queensland is continuing to provide highly encouraging drill assay results.
Drilling to date has outlined a discrete sub-vertical high-grade gold zone (Western Zone) to a vertical depth of 100m, with the zone remaining open and the subject of ongoing drill testing.
New one metre resample assay results confirm and upgrade previously reported intersections that were initially sampled as 4m composite intervals.
The new results include 5m @ 10.4 g/t Au including 1m @ 49.9 g/t Au from hole ZRMRC023 and 12m @ 4.9 g/t Au including 6m @ 9.4 g/t Au (incl 1m @ 25.0 g/t Au & 1m @ 12.0 g/t Au) from drill hole ZRMRC021, both intersections remain open, clearly demonstrating the potential for the high-grade zone to continue at depth (refer to Table 1 for a complete listing of both new and previous Zenith gold results).
The one metre resamples use a more robust sampling method and assay results from these samples are therefore considered of higher quality than the original 4m composite samples.
New silver assay results from drill holes ZRMRC011 to ZRMRC024 show strong silver values associated with the gold mineralised intervals and have the potential to add further value to the Project. The results included 7m @ 2.6 g/t Au and 11.0 g/t Agand 6m @ 1.7 g/t Au and 13.2 g/t Ag.
Assay results from the eastern zone of the breccia pipe show some early encouragement with new results including 4m @ 0.5 g/t Au, 1m @ 0.7 g/t Au and 1m @ 0.9 g/t Au.
Infill and extensional soil sampling was recently completed to close off, and provide further definition of, gold soil geochemical anomalies surrounding the Red Mountain breccia pipe. New surface soil assay results of up to 3.3g/t Au located 600m north of the Western Zone have now been defined.
Executive Chairman, Peter Bird, said this is an exciting development and highlights the potential for additional gold targets in the Project area. The 3.3g/t soil sampling assay result is on the end of a geochemical sampling line meaning that the result is currently open ended.
“As we continue to undertake further work at Red Mountain positive news continues to flow from both drilling assays and surface sampling activities,” Mr Bird said.
“The new 1m resample drilling results that we are reporting herein have thrown up some very positive surprises with high-grade gold now identified in adjacent drill holes 21 and 23.
“These intervals may or may not be connected, but are clearly open at depth increasing the size of the high grade gold target zone that we will be following up.
“This geological region located in Queensland has a high level of gold endowment with a number of high-quality deposits having been bought into commercial production. The Red Mountain Project forms an important part of our value-based strategy! “Our team are now drilling at the Snook copper target, which is part of the Develin Creek copper-zinc VMS project located nearby in Queensland and will shortly return the drill rig to Red Mountain to continue work on these exciting high-grade gold results with diamond drilling being a key priority.”
