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- Zuleika Gold (ZAG) to recommence drilling this month to test newly discovered targets at its Credo and namesake projects near Kalgoorlie in Western Australia
- During 2021, the company drilled 23,370m, comprising 18,246m of aircore (AC) and 5,124m of reverse circulation (RC) drilling which identified targets for follow up drilling
- The company’s 2022 plan is to complete some further 20,000m of RC and AC drilling programs to advance exploration on the Zuleika Shear Project
- The company says it is well financed to complete systematic and effective exploration of its projects with a $3 million subscription agreement previously entered into
- Shares have been down 4.88 per cent trading at 3.9 cents
Zuleika Gold (ZAG) has said it is set to recommence drilling this month to test newly discovered targets at its Credo and namesake projects near Kalgoorlie in Western Australia.
During 2021, the company drilled 23,370 metres, comprising 18,246m of aircore (AC) and 5,124 metres of reverse circulation (RC) drilling which identified targets for follow-up drilling.
The company’s 2022 plan is to complete some further 20,000 metres of RC and AC drilling programs to advance exploration on the Zuleika Shear Project.
Drilling will initially focus on the Breakaway Dam, Browns Dam, Little T and Carnage Shear Prospects with 5,500 metres of AC and RC drilling.
A further 4,500 metres of AC drilling is to be completed at the Menzies and Goongarrie Projects while an additional approximate 5,000 metres of drilling is planned at the Paradigm East Prospect and the Credo Project, subject to results from
drilling completed in late 2021.
Roughly a further 5,000 metres of drilling new targets is planned following receiving and analysing all assay results from its extensive surface geochemistry programs completed in 2021.
The company said it is well financed to complete systematic and effective exploration of its projects with a $3 million subscription agreement previously entered into with Mark Creasy.
Shares were trading 4.88 per cent lower, trading at 3.9 cents at 3:22 pm AEDT.
