Zenith Minerals provides Red Mountain exploration update

Zenith Minerals provides Red Mountain exploration update

Zenith Minerals (ASX: ZNC) has received results from a recent program of field work conducted at the Company’s 100% owned Red Mountain gold-silver project located in central Queensland. The Red Mountain project is located within ~100km of operating gold mines at Cracow and Mount Rawdon.


HIGHLIGHTS

·       Results received from recent field work program returned further encouraging results, including;

·       New high-grade gold in soils up to 2210 ppb Au (2.2g/t Au), with supporting results of 550ppb Au and 320ppb Au confirm previous high-grade soil sample that returned 1600 ppb Au (1.6 g/t Au);

·       New gold in rock sample results up to 1.6 g/t Au and 18.9 g/t Ag (silver).

·       Detailed geological mapping by Zenith has outlined a previously unknown felsic volcanic breccia complex. Based on the recent mapping and sampling program it appears that gold mineralisation is focused on the margins of the breccia system; and

·       IP geophysical surveying to commence shortly to assist with drill target definition.

A zone of gold and silver mineralisation was discovered by Zenith in mid-2017 (ZNC ASX Release 25th July 2017). The maiden exploration program in 2017 at Red Mountain returned rock chip sample results up to 0.69 g/t gold and 114g/t silver.

Further field work by Zenith to follow-up these results returned highly encouraging gold and silver 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 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 Ag, refer to ZNC ASX release 1st July 2019.

Results received from the recent field work program returned further encouraging results, including new high-grade gold in soils up to 2210 ppb Au (2.2g/t Au), with supporting results of 550ppb Au and 320ppb Au that now confirm the previous highgrade soil sample that returned 1600 ppb Au (1.6 g/t Au), in an area of limited outcrop on the western side of the prospect area. In addition, rock sampling returned new results up to 1.6 g/t Au and 18.9 g/t Ag (silver) refer to Figure 1 for details.

Zenith’s detailed geological mapping has now defined a previously unknown felsic volcanic breccia complex. Based on the results from the new mapping and sampling program it appears that gold mineralisation and alteration is focused on the margins of the breccia system.

IP geophysical surveying is planned to commence shortly to screen the breccia margins for sub-surface sulphide and clay alteration zones likely to be associated with gold mineralisation. The results from this IP survey will then assist Zenith’s geological team in drill program design to test for gold & silver mineralisation.

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