Zenith confirms Red Mountain gold extends at least 200m deep
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New assays from diamond drill holes at Zenith Minerals’ Red Mountain project in Queensland have confirmed and extended high grade gold zones to 200m depth.
The assays from Zenith (ASX:ZNC) were taken from two holes drilled as part of an ongoing program at Red Mountain and include the following hits:
The results are significant, as they successfully demonstrate high grade gold mineralisation extends to at least 200m vertical depth, expanding the mineralisation 20m beyond the previous deepest hole.
Shallow high-grade hits, including some from surface, have previously been made at Red Mountain.
The latest gold intersections were made shallower than anticipated, according to Zenith, due to the mineralisation rolling from a steep east dip to a steep west dip.
The current diamond drilling program incorporates four holes, with three completed and one further designed to a depth of 350m.
The third completed hole, ZRMDD044, has been cut and assays are currently pending.
Zenith chairman Peter Bird said the results demonstrated the potential of Red Mountain.
“The results show that mineralisation is persistent down to at least the 200m vertical metre level and is certainly not closed off,” he said.
“There would appear to be a higher grade five to eight-plus metre-wide ‘core zone’ which we will continue to chase down the plunge of the mineralised zone.
“We are very keen to see what the next hole assays will deliver.”
Bird said the positive results to date at Red Mountain meant Zenith was considering dedicating a drill rig to the project “on a more full-time basis”.
The latest results come in addition to previously announced near-surface high-grade intersections, which include:
They confirm the continuity of high-grade gold to at least 200m of vertical depth and pave the way for further exploration work.
The Red Mountain project is located in some serious gold territory in the Auburn Arch province, proximate to the 8.5Moz Mt Morgan project, the 2.5Moz Mt Rawdon project and the 2Moz Cracow project.
Today’s news follows successful drilling at the company’s Split Rocks gold project in WA, completed last month.
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.