Zenith Minerals declares higher gold grades at Red Mountain

Special Report: Zenith Minerals has reported higher grades of gold from its Red Mountain project in central Queensland after using more refined sampling method for assay results.

New resample results at 1m intervals from the project’s Western Zone include 5m at 10.4 grams per tonne (g/t) gold previously reported as 20m at 0.4 g/t gold, and 12m at 4.9 g/t gold previously reported as 8m at 3.9 g/t gold.

Zenith Minerals (ASX:ZNC) said the grades were initially sampled as 4m composite intervals at the Red Mountain project.

“The new 1m resample drilling results that we are reporting have thrown up some very positive surprises with high-grade gold now identified in adjacent drill holes 21 and 23,” executive chairman, Peter Bird, said.

“The intervals may or may not be connected but are clearly open at depth increasing the size of the high-grade gold target zone that we will be following up,” he said.

The company used a more robust sampling method for the 1m resamples, and assay results for these are considered of higher quality than the original 4m composite samples.

The upgraded results for Red Mountain’s Western Zone demonstrate the potential for the high-grade zone to continue at depth as both intersections remain open.

Zenith Minerals’ Red Mountain gold project is located between two prolific Queensland gold mines. Image: company supplied

Red Mountain lies between two prolific Queensland gold mines

Red Mountain is in the Auburn Arch province in southeast Queensland, lying about halfway between two gold mines, Auris Minerals’ (ASX:AUR) Cracow, and Mount Rawdon belonging to Evolution Mining (ASX:EVN).

Drilling to date at the Red Mountain project has outlined a discrete sub-vertical high-grade gold zone, called the Western Zone, that remains open.

New soil samples grading 3.3 g/t gold at the project are suggestive of an emerging additional gold target located 600m north of the Western Breccia Pipe Zone.

Infill and extensional soil sampling was recently completed to close off, and provide further definition of gold soil and geochemical anomalies surrounding the Red Mountain Breccia Pipe.

Additional, new drilling results for Red Mountain include, 13m at 8 g/t from surface including 6m at 16.7 g/t gold.

Drilling and soil sampling activity has been focused on gold-bearing areas in the Red Mountain tenement. Image: company supplied

Silver also present in Red Mountain project’s mineralisation

New soil samples grading 3.3 g/t gold at the project are suggestive of an emerging additional gold target located 600m north of the Western Breccia Pipe Zone.

Some silver grades associated with gold mineralisation have also been detected at the Red Mountain project that include hits of 7m at 2.6 g/t gold with 11 g/t silver.

The presence of silver at Red Mountain has the potential to add further value to the project.

Zenith Minerals is widening its exploration activity to include a maiden drill program for its Snook copper prospect at its Develin Creek VMS copper-zinc project near Rockhampton.

“Our team are now drilling at the Snook copper target, which is part of the Develin Creek copper-zinc VMS project located nearby in Queensland and will shortly return the drill rig to Red Mountain to continue work on these exciting high-grade gold results with diamond drilling being a key priority,” said Bird.

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.