Zenith bullish on pending gold resource upgrade following latest assays

• Zenith Minerals’ drilling at Dulcie Far North has returned gold results that will underpin an upcoming resource estimate
• Results also improved geological model and identified opportunities for further resource growth
• Assays pending for four holes targeting two regional prospects

Special Report: Significant gold assays from Zenith Minerals’ recently completed reverse circulation drill program at the Dulcie Far North project in WA’s Southern Cross region are expected to underpin an upcoming resource estimate.

The 41-hole program totalling 5676m – consisting of 37 holes at Dulcie Far North and four regional holes at the Fuego and Nieve prospects – also improved the company’s geological model and identified opportunities for further resource growth.

Zenith Minerals (ASX:ZNC) said notable assays from the drilling that confirmed resource continuity, extended the strike length of mineralisation and identified new stacked lodes beneath the main shear zone include:

• 6m grading 2.76g/t gold from a down-hole depth of 57m including 4m at 3.72g/t
  from 58m (SRRC070)
• 9m at 1.46g/t gold from 55m including 2m at 5.17g/t from 56m (SRRC074)
• 5m at 2.19g/t gold from 97m including 1m at 9.34g/t from 97m (SRRC069); and
• 9m at 1.2g/t gold from 56m including 2m at 3.72g/t from 56m (SRRC062).

Mineralisation at the Dulcie Far North system remains open to the north, east, and at depth.

“We are delighted with the outcomes from the recently completed RC drilling campaign at Dulcie Far North,” managing director Andrew Smith said.

“The campaign delivered significant intercepts that enhanced our geological model and identified substantial opportunities for further resource growth. With mineralisation remaining open in multiple directions and new stacked lodes confirmed, we eagerly anticipate the upcoming resource update.

“Additionally, results are imminent for the drilling at the Fuego and Nieve regional prospects which underscore the considerable potential of our broader Split Rocks tenure.

“We are highly focused on commercialisation pathways for the resources at DFN. The pending JORC MRE upgrade will further underpin our corporate strategy of monetising our gold ounces as quickly as possible and leveraging the project’s strategic proximity to established infrastructure.”

Drill results

ZNC notes the final results from the drill program confirm that the gold mineralising system at the project remains open to the north, adding to the early April extension of the mineralised trend to the south.

It has also further underscored the potential for repeat, stacked lodes at depth, which was first noted in the 2024 drilling when hole SRRC035 intersected 10m at 2g/t gold from 75m stepping east of the previously tested area.

The company adds that while historical exploration focused on areas where old workings existed over weather resistant, outcropping rocks, less resistive rocks that don’t necessarily outcrop my also host gold.

Though the new lodes along strike have returned lower grades, ZNC points out that variable grade is a common feature of the lodes at Dulcie Far North where drilling is sparse.

Next steps

Further drilling is required to test where the high-grade portions of the stacked lodes exist and to determine the controls.

This will be undertaken together with drilling across the extent of the shear zone to the east to test for additional lodes to add to the resource base.

Assays are pending before the end of the current June 2025 quarter for the four regional holes – three at Fuego and one at Nieve.

Likewise, the updated mineral resource is currently underway with results expected by the end of the quarter.

ZNC adds that it is progressing its regional consolidation strategy across the Marvel Loch–Forrestania belt and is actively assessing inorganic growth opportunities to further scale its development ambitions.

This article was developed in collaboration with Zenith Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.