Zenith Minerals (ASX:ZNC) has outlined a discrete, sub-vertical, high-grade gold zone with new exploration activities at its Red Mountain gold project in Queensland.
New assay results from recent RC drilling phase and 1m re- samples have identified a high-grade gold zone extending over 300m on surface and remaining open at depth.
CEO Mick Clifford said the company is now moving quickly to commence step-out drilling to assess the size and potential of this new zone.
We are very pleased that our drilling to date has outlined a coherent high-grade gold zone on the western flank of the Red Mountain breccia pipe. The western high-grade zone provides a clear target for further follow-up work,” Mr Clifford said.
“The next round of drilling commences step-out and infill drilling on the western zone. 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 RC drill holes as an initial test of the north eastern target 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 which is located 65km east of Charters Towers and the nearby Mount Rawdon Gold Mine. The Mt Wright gold deposit was exploited by Resolute Mining Limited as an underground operation, with mineralisation having a strike length of only 200m but vertical extent of over 1.2km.
The current drill programme has focused on the western part of the prospect area, which is part of a larger total target zone extending some 2.2 km around the rim of the breccia pipe.