Zenith Minerals (ASX: ZNC) has confirmed high gold grades at its Red Mountain Gold Project in Queensland.
· New 1m re-sample results confirm and upgrade high-grade gold intervals from the Western Zone at the Red Mountain gold project in Queensland, including
· 5m @ 10.4 g/t Au previously reported as 20m @ 0.4 g/t Au*
· 12m @ 4.9 g/t Au previously reported as 8m @ 3.9 g/t Au* (*previously reported from initial 4m composite sampling)
· New results are in addition to previously announced near surface highgrade drilling intersections, including:
· 13m @ 8.0 g/t Au from surface, incl. 6m @ 16.7 g/t Au
· 15m @ 3.5 g/t Au, incl. 2m @ 22.4 g/t Au
· 5m @ 3.5 g/t Au & 54.3 g/t Ag, incl. 2m @ 8.0 g/t Au & 109.4 g/t Ag
· 10m @ 2.7 g/t Au from surface, incl. 4m @ 4.9 g/t Au
· Strong silver (Ag) grades associated with gold mineralisation; results include:
· 7m @ 2.6 g/t Au with 11.0 g/t Ag
· 6m @ 1.7 g/t Au with 13.2 g/t Ag
· 2m @ 1.9 g/t Au with 11.0 g/t Ag
· 1m @ 1.0 g/t Au with 26.1 g/t Ag
· Supporting previous high-grade silver intersections including:
· 5m @ 3.5 g/t Au & 54.3 g/t Ag from 64m, incl. 2m @ 8.0 g/t Au & 109.4 g/t Ag.
· New soil samples grading 3.3 g/t Au suggest an emerging additional gold target located 600m north of the Western Breccia Pipe Zone.
· Gold mineralisation has only been defined to approximately 100m depth and remains open with two initial RC pre-collars now in place for diamond core tails. Assay results from a further 5 RC holes including the two pre-collars are awaited.
· Diamond drilling will commence in mid-November, following completion of the maiden drill program at the Snook copper prospect an exciting new target at the Company’s Develin Creek VMS copper-zinc project located near Rockhampton in Queensland.
Significance of these new assay results
Ongoing exploration activity at the 100% owned Red Mountain gold project located in Queensland (Figure 1) is continuing to provide highly encouraging drill assay results. Drilling to date has outlined a discrete sub-vertical high-grade gold zone (Western Zone) to a vertical depth of 100m, with the zone remaining open and the subject of ongoing drill testing.
These new 1m resample assay results confirm and upgrade previously reported intersections that were initially sampled as 4m composite intervals. The new results include 5m @ 10.4 g/t Au including 1m @ 49.9 g/t Au from hole ZRMRC023 and 12m @ 4.9 g/t Au including 6m @ 9.4 g/t Au (incl 1m @ 25.0 g/t Au & 1m @ 12.0 g/t Au) from drill hole ZRMRC021, both intersections remain open, clearly demonstrating the potential for the high-grade zone to continue at depth.
The 1m resamples use a more robust sampling method and assay results from these samples are therefore considered of higher quality than the original 4m composite samples.
Commenting on the Red Mountain gold project results, Executive Charman Peter Bird said, “As we continue to undertake further work at Red Mountain positive news continues to flow from both drilling assays and surface sampling activities.
“The new 1m resample drilling results that we are reporting herein have thrown up some very positive surprises with high-grade gold now identified in adjacent drill holes 21 and 23.
“These intervals may or may not be connected, but are clearly open at depth increasing the size of the high grade gold target zone that we will be following up. This geological region located in Queensland has a high level of gold endowment with a number of high-quality deposits having been bought into commercial production.
“The Red Mountain Project forms an important part of our value-based strategy! Our team are now drilling at the Snook copper target, which is part of the Develin Creek copper-zinc VMS project located nearby in Queensland and will shortly return the drill rig to Red Mountain to continue work on these exciting high-grade gold results with diamond drilling being a key priority.”