Zenith Minerals Limited has commenced the second phase diamond drill program, with drill holes up to a maximum depth of 400 metres, at the company’s 100 per cent owned Red Mountain gold project in Queensland.
Zenith outlines that ongoing exploration activity at the Red Mountain is continuing to provide highly encouraging high-grade gold drill assay results (refer to ASX release 21-Jan-21).
Drilling to date has outlined a discrete sub-vertical high-grade gold zone (Western Zone) to a vertical depth of 180 metres. The zone remains open at depth and drill holes in this program will test for gold mineralisation to 300 metres below surface.
The company states that high-grade gold was intersected in both the most recently completed diamond drill holes (ZRMRD038 and 040) with individual assays peaking at 34.2 grams per tonne (g/t) of gold (Au) and 10.4 g/t Au respectively.
Results were particularly strong in hole ZRMRD040 with zones of high-grade gold intersected from 111 metres down hole to the end of hole at 201.7 metres.
The current follow-up diamond drill program will commence step-out drilling to test the depths extents of gold mineralisation.
An initial four diamond drill holes up to 400 metres depth will form the first part of this campaign. Drilling is anticipated to take approximately three weeks with assay results a further three weeks hence.
Following the completion of this work, it is anticipated the rig will be mobilised to the company’s Develin Creek copper-zinc project (also in Queensland), to enable time for assays results to be received for the Red Mountain drill core.
Zenith Minerals’ Executive Chairman, Peter Bird, said if this round of much deeper drilling intersects gold mineralisation of a similar type to that in ZRMR040 (where free gold was identified in five separate intersections) it will be a very positive and pivotal point for the Red Mountain gold project.
“We are currently very confident that we are drilling a breccia pipe system which is mineralised. The trick now is to chase a commercial scale gold inventory which has the potential to add significant value to the business.”