- Zenith Minerals’ (ZNC) latest assay results have defined a ‘plunging high-grade’ shoot at its Red Mountain Gold Project in Queensland
- The fresh finds come as the company undertakes ongoing exploration activities at its wholly-owned project
- Notable results from two diamond drill holes include 21 metres at 1.9g/t gold including two metres at 10.8g/t gold, 1.3 metres at 5g/t gold and three metres 2.4g/t gold
- ZNC said it will be bringing a drill currently stationed at its Creek Copper-Zinc Project to Red Mountain to commence follow-up drilling
- Zenith Minerals shares closed the day in the grey at 27.5 cents
Zenith Minerals’ (ZNC) latest assay results have defined a ‘plunging high-grade’ shoot at its Red Mountain Gold Project in Queensland.
The fresh finds come as the company undertakes ongoing exploration activities at its wholly-owned project, with drilling to date said to have outlined a sub-vertical shallow north-east plunging high-grade gold zone to a vertical depth of 200 metres.
The explorer has received new gold assay results from two diamond core holes, yielding intercepts of 21 metres at 1.9g/t gold including two metres at 10.8g/t gold, 1.3 metres at 5g/t gold and three metres 2.4g/t gold.
According to Zenith, the gold mineralisation has been intersected 80 metres below the previous intersection of five metres at 10.4g/t gold, defining a shoot some
250 metres long and open.
Diamond drilling at the programme is ultimately hoped to fuel a potential resource definition, with a drill currently situated at the company’s Creek copper-zinc project to be returned to Red Mountain to commence follow-up testing.
Red Mountain Chairman Peter Bird commented on the results.
“Another solid high-grade drill intersection at Red Mountain on the north western flank in hole 042 firms up the location of the high-grade gold shoot which is now shown to be plunging to the northeast,” he commented.
Zenith Minerals shares closed the day in the grey at 27.5 cents.