Zenith Minerals Limited has announced results from recent reverse circulation (RC) drilling at its 100 per cent owned Red Mountain Gold-Silver Project in south-east Queensland.
The Red Mountain Project lies approximately halfway between two operating gold mines – Aeris Resources’ Cracow mine and Evolution Mining’s Mount Rawdon mine.
Zenith considers mineralisation at Red Mountain 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 65 kilometres east of Charter Towers and the nearby Mount Rawdon mine.
The company’s current drill program has a focus on the western part of the prospect area. This area is part of a larger total target zone, extending roughly 2.2 kilometres around the rim of the Red Mountain breccia pipe.
According to Zenith, the new assay results from the recent RC drilling phase and 1 metre resamples have highlighted a high-grade gold zone extending over 300 metres on the surface, and remaining open at depth.
New 1 metre resample results include: RMRC019 – 15 metres at 3.5 grams per tonne (g/t) of gold (Au) including 2 metres at 22.4 g/t Au.
New results from recent RC drilling include: RMRC028 – 2 metres at 2.8 g/t Au including 1 metre at 5.0 g/t Au and 5 metres at 1.0 g/t Au including 1 metre at 4.2 g/t Au.
Previously reported high-grade near-surface gold results, include:
- 13 metres at 8.0 g/t Au and 3.2 g/t Ag from surface, including 6 metres at 16.7 g/t Au and 5.3g/t Ag.
- 4 metres at 4.6 g/t Au and 7 metres at 2.6 g/t Au and 8 metres at 3.9 g/t Au.
- 5 metres at 3.5 g/t Au and 54.3 g/t Ag from 64 metres, including 2 metres at 8.0 g/t Au and 109.4 g/t Ag.
- 10 metres at 2.7 g/t Au from surface, including 4 metres at 4.9 g/t Au.
Zenith notes that gold mineralisation has only been defined to approximately 100m depth and silver results remain pending for all 21 drill holes.
The company has commenced follow up drilling of a further 10 RC drill holes and 2 initial diamond drill holes. Geophysical surveying is also planned to assist in guiding deeper drill testing.
CEO of Zenith Minerals Limited, Mick Clifford, said the company is ‘very pleased’ that 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 2 diamond drill holes that will give us a first look at 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 4 RC drill holes as an initial test of the north eastern target zone,” he commented.
The full announcement can be found here.