Zenith Minerals (ASX: ZNC) has secured another new 100% owned gold project in Queensland, with the grant of a new exploration permit for minerals. Based on a detailed review of historical exploration activity the Flanagans project contains a compelling high-order gold target that requires immediate validation sampling.
The project is located 70 km NE of Zenith’s 100% owned Red Mountain Gold Project, which is fully permitted for drilling. Both Zenith gold projects are situated within ~100km of Evolution’s operating gold mines at Cracow and Mount Rawdon.
Based on historical exploration activity the target is defined as a 1.5km long by 180m wide gold-rich quartz vein zone hosted in diorite. Individual quartz veins range in size from 1cm to 1m in width with common goethite boxwork after sulphides. The quartz veins have been mapped in outcrop and in 6 shallow trenches and described as flat lying to shallow NE dipping providing potential for a vertically stacked quartz vein hosted gold mineralised system.
Previous sampling reported strong gold rock chips results including: 20 g/t Au, 12.0 g/t Au, 11.5 g/t Au, 5.25 g/t Au, 3.3 g/t Au, 3.2 g/t Au, 2.6 g/t Au and silver to 70 g/t Ag (QLD Mines Department open file reports cr12556 & cr17773). In addition, very high gold in soils occur in 3 zones over the 1.5km of strike, peaking at 8.69g/t Au with one area 180m x 40m containing six results above 1 g/t Au.
Historic samples also provide insight into the multi-element signature of the alteration zone which appears indicative of a magmatic system, providing support to Zenith’s large target scale (rocks chips returned bismuth values up to 760ppm, arsenic to 220ppm and antimony to 10ppm).
The target zone appears open ended in multiple directions based on soil & rock results with no drill testing to date.
A localised geophysical survey (induced polarisation electrical survey) along the strike of the target area defined a chargeability low coincident with the quartz vein zone.
Central to the target area is a zone of minor historic copper workings that extend over 400m of strike. Most of the exploration to date has focused on the copper potential of the area. Zenith believes Flanagans gold potential has not been tested and will be followed up as a Company priority.