Zenith Minerals (ASX:ZNC) has released the results from the first phase of a large ongoing geochemical sampling campaign at the Tate River gold project in Queensland. Systematic soil sampling (700 samples) and rock samples (16 samples taken by the soil sampling crew) in this first round of work in the north east of the project area have confirmed the presence of gold bearing quartz veins and vein breccia. Infill sampling is planned to be completed this month.
- New gold targets defined at North East and Far North Prospects;
- North East rock sample results to 2.1g/t gold in association with high arsenic & antimony in quartz veins and quartz breccia hosted by rhyolite and schist, whilst broad spaced soil sampling returned gold results up to 0.2g/t gold;
- Far North rock sample results to 1.7g/t gold with strong arsenic & antimony association in quartz veins;
- Single rock sample of quartz vein returned 1.17g/t gold in association with strong bismuth & tellurium from 1.3km west of the Guppy Strike Prospect where Zenith’s 2017 trenching returned up to 5m @ 3.92g/t gold;
- Infill sampling planned to be completed this month.
Zenith Minerals Limited (“Zenith” or “the Company”) is pleased to advise that results have been received from the first phase of a large ongoing geochemical sampling campaign at the Tate River gold project in north Queensland.
Systematic soil sampling (700 samples) and rock samples (16 samples taken by the soil sampling crew) in this first round of work in the north east of the project area have confirmed the presence of gold bearing quartz veins and vein breccia.
At the North East prospect rock sample results returned up to 2.1g/t gold with associated high arsenic and antimony in colloform banded quartz veins and quartz breccia hosted by rhyolite, and schist whilst wide spaced (400m x 100m) soil sampling returned high-order gold results up to 0.2g/t gold. In addition rock samples taken at the Far North prospect returned up to 1.7g/t gold also with strong arsenic & antimony hosted in quartz veins, whilst a single rock sample of a quartz vein in an area of soil cover 1.3km west of the Guppy Strike Prospect returned 1.17g/t gold in association with strong bismuth & tellurium.
Infill soil sampling is planned to be completed at the North East and Far North prospects this month. Additional area of untested and open ended gold-bismuth-tellurium-copper soil anomalies to the southwest of the Guppy Strike prospect will also be sampled.
Background on the Tate River Gold Project
As previously announced (ASX Release 2nd August 2017) a wholly owned subsidiary of Zenith, Caldera Metals Pty Ltd signed a Farm-In agreement with private company Jumani Pty Ltd, whereby Caldera may earn up to 70% interest in The Tate River gold project.
The Tate River gold project is located close to two known intrusion related gold deposits, it is 50km southwest of the Mungana/Red Dome gold deposit with total endowment of 3.2Moz gold and 11km southwest of the Mountain Maid gold deposit with resources of 72Mt @ 0.23 g/t gold (0.5Moz gold) – AVQ ASX Release 10th Dec 2010.
The project contains several gold and gold-silver prospects that are considered to be epithermal or intrusion related gold systems that have been subject to previous exploration (Figure 1) with Zenith’s focus on the newly discovered Guppy Strike prospect and the large highly prospective land holding away from those known prospects.
As previously announced to the ASX (21st September 2017) a program ndertaken by Zenith of continuous, horizontal channel sampling of 13 trenches dug by excavator has confirmed widespread bedrock gold mineralisation over an area 450m x 300m at the Guppy Strike Prospect. Results included: 5m @ 3.92g/t Au from mica schist, whilst ferruginous quartz vein zones hosted in amphibolite tested by 3 separate trenches returned: 3m @ 1.72 g/t Au, 3m @ 1.09 g/t Au and 2m @ 0.82g/t Au over a strike length of 150m. Widespread strongly anomalous gold zones such as in Trench GT12 (entire length averaging 166m @ 0.14g/t Au) in the southwest of the prospect area are associated with a felsic and pegmatite dyke swarm. The rock samples at Guppy Strike have a typical intrusion related gold deposit signature containing elevated levels of gold-bismuth-tellurium.
In addition a soil geochemical survey was completed over the Guppy Strike discovery area in order to assist in determining the extents of the gold mineralised system. Assay results from the soils program show a 550m long x 400m wide gold-bismuth-tellurium-copper-zinc soil anomaly coincident with and open to the south of the Guppy Strike gold zones.