New gold–silver results from Red Mountain: Zenith

New gold–silver results from Red Mountain: Zenith

Zenith Minerals (ASX: ZNC) has received further encouraging gold and silver results from its Red Mountain Project in Queensland. Detailed geological mapping is planned along with trenching and/or drilling to test the true thickness of the poorly exposed gold-silver zones and to track mineralisation where it extends beneath shallow soil cover.


Zenith Minerals (ASX: ZNC) has received further encouraging gold and silver results from its 100% owned Red Mountain Project in Queensland.

The Red Mountain project is located within ~100km of operating gold mines at Cracow and Mount Rawdon.

HIGHLIGHTS

·       Follow-up field work by Zenith returns highly encouraging gold and silver rock chip sample results up to 2.01 g/t gold and 52.5 g/t silver;

·       Large 2km by 1.5km zoned soil anomaly with peak soil gold result of 1.6 g/t Au and peak silver soil value 2.1 g/t Ag;

·       Red Mountain host rocks, alteration and geochemical association appear similar to that at a nearby operating gold mine, providing a potential geological model to assist targeting;

·       Detailed geological mapping is planned along with trenching and/or drilling to test the true thickness of the poorly exposed gold-silver zones and to track mineralisation where it extends beneath shallow soil cover.

Zenith’s maiden exploration program in 2017 at Red Mountain returned rock chip sample results up to 0.69 g/t gold and 114g/t silver. Recent field work by Zenith to follow-up these results has returned further highly encouraging silver and gold rock chip sample results up to 2.01 g/t gold and 52.5 g/t silver around 800 metres north of the best results from 2017 sampling. In addition, systematic geochemical sampling has now outlined a large 2km by 1.5km zoned soil anomaly with peak soil gold result of 1.6 g/t Au and peak silver soil value 2.1 g/t Au.

Based on preliminary reconnaissance mapping, mineralisation is hosted within felsic volcanic rocks including flow banded rhyolite, felsic tuff and volcanic breccia close to the contact with granite.

Much of the area is obscured by soil cover. The large soil geochemical anomaly is distinctly zoned with a Cu-Mo-S-Ba-Mn core lying predominantly over the felsic rocks surrounded by an annular shaped goldsilver-Pb-Zn-As-Te-Bi-Sb-Se-Ni-Co +/- Hg-Mn-U anomaly that is generally close to the felsic rock – granite contact.

The Red Mountain host rocks, alteration and geochemical association are interpreted as having similarities to that at the nearby operating Mt Rawdon gold mine based on comparison to research published by Evolution Mining geologist Howard (2015).

The similarity is encouraging and provides Zenith with a geological model to assist in targeting gold and silver mineralisation at Red Mountain. Detailed geological mapping is planned along with trenching and/or drilling to test the true thickness of the poorly exposed gold-silver zones and to track mineralisation where it extends beneath shallow soil cover.

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