Zenith boosts management as it advances gold, base metal projects
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Special Report: Zenith has appointed Peter Bird as its executive chairman as it moves to unlock the value of its gold and base metals assets.
Bird, who replaces retiring chairman Mike Joyce, will take charge of investor relations and corporate activity allowing chief executive officer Mick Clifford to focus on activities that will drive the growth of the company and its projects.
The strengthening of Zenith Minerals’ (ASX:ZNC) management team is timely given its plan to aggressively evaluate five key projects with a combination of drilling and geological evaluation work this quarter.
Work is also continuing at two independently managed joint venture assets.
“I’m very pleased that Peter has joined the management team in an executive capacity. His skills, experience and investor contacts have the potential to add significantly to our business,” Clifford said.
Bird added that he was drawn to the company because of the management’s long-standing record of identifying quality undervalued projects.
“We have an enviable portfolio in the precious and base metals space. Results generated from our activities to date and ongoing will continue to be both value generating and exciting,” he noted.
Drilling is ongoing at the Red Mountain and Split Rocks gold projects in Queensland and Western Australia respectively.
At Red Mountain, recent activity has outlined a high-grade gold zone on the western flank of the Red Mountain breccia pipe with more detailed 1m re-sampling of drilling to date returning a top result of 2m grading 22.4 grams per tonne (g/t) gold.
Results above 5g/t are generally considered to be high-grade.
The next round of drilling will focus on step-out and infill drilling on this western zone along with testing the northeastern target zone.
Drilling at Red Mountain has already outlined mineralisation over some 300m of strike with drilling returning both high-grade gold along with wide intervals of lower-grade gold.
The project is believed to be analogous to known gold deposits such as Mt Wright, which is noted for having a very limited strike length of just 200m but with vertical continuity of over 1.2km.
Zenith is also carrying out a circa 120-hole aircore program at Split Rocks to follow-up on high-grade gold hits at the Dulcie Laterite Pit and Estrela target areas along with another high-conviction target about 4km west of Dulcie Far North.
Drilling at the Dulcie Laterite Pit has returned hits such as 2m at 14.5g/t gold while Estrela returned a 2m intersection grading 9.8g/t gold.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.