- Zenith Minerals (ZNC) strikes “robust” high-grade gold intersections from the Dulcie Far North prospect within its Split Rocks gold project in Western Australia
- The results come from a program of 15 reverse circulation drill holes for 1841 metres completed at Dulcie Far North late last year
- Highlights from the campaign include 12 metres at 6.07 grams per tonne (g/t) gold from 108 metres, including five metres at 10.5 g/t gold from 113 metres
- The company says its new results are “sufficiently encouraging” to justify potentially exercising its option to purchase Mining Lease 77/1292 from a private syndicate
- Zenith Minerals shares are up one per cent to 25 cents at midday AEDT
Zenith Minerals (ZNC) has struck “robust” high-grade gold intersections from the Dulcie Far North prospect within its Split Rocks gold project in Western Australia.
The results come from a program of 15 reverse circulation drill holes for 1841 metres completed at Dulcie Far North late last year.
Highlights from the campaign include 12 metres at 6.07 grams per tonne (g/t) gold from 108 metres, including five metres at 10.5 g/t gold from 113 metres.
Further assays included 25 metres at 0.56 g/t gold from 69 metres, including three metres at 2.39 g/t gold from 91 metres.
The new results support previous high-grade intersections from the area including seven metres at 7.8 g/t gold from 90 metres.
The company said its new results were “sufficiently encouraging” to justify potentially exercising its option to purchase 100 per cent of the rights, title and interests over Mining Lease 77/1292 from a private syndicate.
If it goes ahead, Zenith will own all the gold rights below six metres and all mineral rights for nil consideration, though it will grant the private syndicate a two per cent net smelter return royalty on any gold or lithium mined.
Zenith said its next steps will now be to complete an infill reverse circulation and diamond tails program in March to fully gauge the size of the mineralising system at the project.
Zenith Minerals shares were up one per cent to 25 cents at midday AEDT.