Zenith testing depth potential of high-grade gold at Red Mountain
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Special Report: Zenith has kicked off diamond core drilling at its Red Mountain gold project in Queensland to test the depth extent of high-grade, near-surface mineralisation.
Previous results in the Western Zone of the project included 5m at 10.4 grams per tonne (g/t) gold and 13m at 8g/t gold from surface. Strong silver grades of up 109.4g/t have also been associated with gold mineralisation.
Zenith Minerals (ASX:ZNC) noted that mineralisation has only been defined to a depth of about 100m to date and remains open at depth.
The company plans to complete two diamond core tails in this first round of follow-up drilling with assays expected in early January.
“We are very keen to get this first phase of diamond drilling underway so we can test the potential depth extension of the mineralisation on the western margin of the breccia pipe complex,” executive chairman Peter Bird said.
“As we have pointed out previously, the Red Mountain maiden discovery is located within a very prospective region with a number of high order gold mines already developed or operating.
“We anticipate that drilling at the Red Mountain project will continue in a series of phases well into 2021.”
Recent results from three reverse circulation holes and two short RC holes to be tailed with diamond core have confirmed the location of gold in the Western Zone.
This returned assays of 8m at 1.9g/t gold from surface including 4m at 3.1g/t gold and 4m at 2.4g/t gold from 28m in one of the diamond hole pre-collars.
More robust 1m sampling will be carried out for these results.
Zenith has also completed additional soil sampling to better close off and define geochemical trends.
Red Mountain is located midway between Auris Minerals’ (ASX:AUR) Cracow and Evolution Mining’s (ASX:EVN) Mount Rawdon gold mines.
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.