Testing new 2km long gold target
The Board of Zenith Minerals Ltd (ASX: ZNC) has given the thumbs up to a major reverse circulation (RC) drill campaign at the Split Rocks Gold Project in Western Australia.
Zenith has identified a large-scale gold bearing bedrock shear zone extends over 2km in strike by 300m down dip with a thickness ranging from five to 40m, averaging 13m.
The campaign will test newly outlined 2km long gold target.
Chairman Peter Bird said an initial 28 RC holes are planned which may be expanded to a total of 80 holes.
“This large gold target that the team have defined at Split Rocks is significant and we are now elevating our activity and expenditure levels by moving to a more advanced stage of exploration,” Mr Bird said.
“The initial 28 reverse circulation drill holes will focus on the shallow upper portion of the mineralised zone with the view to affirming continuity along strike and to a depth of approximately 150m down dip. The anomalous zone is currently interpreted to extend to more than 300m down dip.
“This work is anticipated to begin in the second half of November and will continue until around the Christmas period. Follow up drilling would then take place if this first phase is successful. Several other defined targets at Split Rocks will also continue to be evaluated.
“Split Rocks is one of our more advanced projects in a first-class portfolio. Readers should note that drilling activity will also continue to follow on from positive drill results at our Red Mountain gold project in Queensland and drilling will shortly commence at the Devlin Creek base metals project.
“We feel that the company is very positively positioned in the precious metals and base metals space. From a macro perspective the gold price remains very strong and the outlook for base metal demand fuelled by projected COVID-19 related governments infrastructure spending aligns well with our dominant commodity mix. We remain optimistic that our approach will generate value,” Mr Bird said. The Split Rocks project is located within the Southern Cross region in the Forrestania greenstone belt, approximately halfway between Perth and Kalgoorlie. Several very large current and formerly operated gold mines located north and south along strike from Zenith’s project area attest to the regional gold endowment of this area.
