- Zenith Minerals (ZNC) is undertaking drilling programs at its Split Rocks and Red Mountain gold projects
- Aircore drilling at Split Rocks has tested eight out of 18 gold targets which have so far intersected significant gold
- While results from Red Mountain have outlined a zone of high-grade near-surface gold mineralisation
- Zenith is following this up with step-out reverse circulation drilling at Red Mountain
- Company shares ended the day trading flat at 11 cents each
Zenith Minerals (ZNC) has begun a follow-up aircore drilling program at the Split Rocks Gold Project in Western Australia.
The company is also progressing its reverse circulation (RC) drilling program at the Red Mountain Gold Project in Queensland.
Split Rocks Gold Project
So far, aircore drilling has tested eight out of 18 gold targets which extend over 18 kilometres of strike. Drilling has intersected significant gold at four of the initial targets.
This drilling is aimed at following up on recent high-grade gold that was intersected at the Dulcie Laterite Pit and Estrela target areas, as well as testing a target located four kilometres north of Dulcie Far North.
Previous results include two metres at 14.5g/t gold including one metre at 20.8g/t gold at the Dulcie Laterite Pit, two metres at 9.8g/t gold at Estrela and five metres at 5.6g/t gold including four metres at 6.8g/t gold at Dulcie Far North.
“We have a clear focus on unlocking the value in our existing high-quality Australian gold and copper assets whilst ensuring that we have new opportunities in our project pipeline stemming from an active project generation program,” Zenith CEO Mick Clifford said.
Red Mountain Gold Project
At Red Mountain, results have outlined a zone of high-grade near-surface gold mineralisation in a steep easterly dipping zone hosted by altered granitoid rocks.
The project is nested in between the prospective Cracow and Mount Rawdon mines and Zenith considers the mineralisation at Red Mountain to be similar to other known deposits in Queensland.
The current step-out RC drilling program has completed six holes so far to follow-up on recent high-grade results.
Recent results include 13 metres at 8g/t gold and 3.2g/t silver from surface including six metres at 16.7g/t gold and 5.3g/t gold and five metres at 3.5g/t gold and 54.3g/t silver from 64 metres including two metres at 8g/t gold and 109.4g/t silver.
“It’s very pleasing to have drill rigs running at both of our more advanced Australian gold projects — Split Rocks and Red Mountain. This level of drilling activity will lead to significant news flow over the coming months,” Mick added.
Company shares ended today’s session trading flat at 11 cents per share.