Zenith narrows focus to high-grade gold zone at Red Mountain
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Special Report: Zenith Minerals (ASX:ZNC) has a clear target for follow-up work after outlining a high-grade gold zone at its Red Mountain project in Queensland.
The zone on the western flank of the Red Mountain breccia pipe was outlined by drilling to date at the project with more detailed 1m re-sampling returning a top result of 2m grading 22.4 grams per tonne (g/t) gold while new results include 1m at 5g/t gold.
Previously reported high-grade near surface gold results are 13m at 8g/t gold from surface including 6m at 16.7g/t gold and 2m at 8g/t gold within a broader zone of 5m at 3.5g/t gold.
Zenith added that gold mineralisation has only been defined to a depth of about 100m while silver assays remain pending for all 21 drill holes.
Managing director Mick Clifford says it is pleasing that drilling to date has outlined a coherent high-grade gold zone that provides a clear target for further follow-up work.
“The next round of drilling commences step-out and infill drilling on the western zone,” he added.
“This work includes pre-collars for an initial two diamond drill holes that will give us a first look at the gold mineralisation in drill core, an important step in confirming the orientation and controls on the high-grade gold, before committing to future much deeper step-out drilling to test the size of the gold system.
“In addition, we will complete a further four reverse circulation drill holes as an initial test of the north eastern target zone.”
Drilling at Red Mountain has already outlined mineralisation over about 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.
Further drilling, particularly with diamond core, is expected to provide greater clarity into the overall orientation of gold mineralisation at Red Mountain.
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.