Zenith is pushing ahead with more gold drilling in WA
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Special Report: Zenith is taking its gold exploration efforts up a notch with the upcoming start of a circa 120-hole aircore drilling program at the Split Rocks project in WA.
This comes as reverse circulation drilling continues at its Red Mountain gold project in Queensland with assays from a further six holes expected later this month.
Zenith Minerals (ASX:ZNC) says the aircore drilling at Split Rocks will follow-up on recent 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 results such as 2m at 14.5 grams per tonne (g/t) gold and 1m at 23.7g/t gold, while Estrela returned a 2m intersection grading 9.8g/t gold.
Results above 5g/t gold are generally considered to be high-grade.
Once permits are received, further drilling will be carried out at Dulcie North where recent drilling returned a top intersection of 9m at 31.4g/t gold within a broader 32m zone grading 9.4g/t gold and Dulcie Far North, which returned a 5m intersection at 5.6g/t gold.
“It’s very pleasing to have drill rigs running at both of our more advanced Australian gold projects — Split Rocks and Red Mountain,” chief executive officer Mick Clifford said.
“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.”
The 650sqkm Split Rocks project is positioned halfway between Perth and Kalgoorlie in the Southern Cross region that has a gold endowment of more than 10 million ounces in the Forrestania greenstone belt.
To date, the company’s aircore drilling has tested eight of the 18 large, high-order geochemical anomalies over 18km of strike that have never or were poorly drill tested.
Results such as 13m at 8g/t gold to date at Red Mountain have outlined a zone of high-grade, near-surface gold mineralisation in a steep easterly dipping zone.
Mineralisation at Red Mountain is considered by Zenith to be analogous to known gold deposits in Queensland.
Evidence includes a zoned system with geochemistry like that documented at third party owned Queensland gold deposits such as Mt Wright, about 65km east of Charters Towers, and the nearby Mount Rawdon gold mine.
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.