Zenith Minerals (ASX:ZNC) has reported widespread bedrock gold mineralisation at the Guppy Strike prospect, within the Tate River Project in Queensland. Trenching returned results including 5m at 3.92g/t Au, 3m at 1.72g/t Au and 3m at 1.09g/t Au. The results were returned over an area of 450m x 300m and are indicative an intusion related gold system.
- Excavator trenches completed by Zenith at the Guppy Strike prospect have confirmed widespread bedrock gold mineralisation over an area 450m x 300m, with results up to 5m @ 3.92g/t Au hosted in 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;
- Wide zones of strongly anomalous gold associated with pegmatite and felsic dyke swarms- Trench GT12 (entire length averaging 166m @ 0.14g/t Au);
- Soil sampling over an expanded area at Guppy Strike has defined additional untested gold-bismuth+ tellurium and copper soil anomalies to the southwest and south east that require follow-up field assessment.
- Setting and geochemical association is indicative of an intrusion related gold system. Nearby deposits of this type include Mungana / Red Dome gold mine that had gold endowment of 2.7Moz Au;
- Review of trace element zonation and alteration assemblages in progress to assess deeper drill targeting, as well as further surface geochemical sampling to define the limits of the open ended Guppy Strike gold soil anomalies is planned.
Zenith Minerals Limited (“Zenith” or “the Company”) is pleased to advise that assay results have now been received from a program of trenching at the Tate River gold project in north Queensland prospect which was designed to test a zone of sub-cropping quartz veins that at surface returned assays up to 6.74 g/t Au (Figure 1). As previously announced (ASX Release 2 nd 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 project contains several gold and gold-silver prospects that are considered to be epithermal or intrusion related gold deposit systems (Figure 2).
Continuous, horizontal channel sampling of 13 trenches dug by excavator has confirmed widespread bedrock gold mineralisation over an area 450m x 300m, with results including 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 (Figure 3). 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. 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 the Guppy Strike gold zones (Figure 4). Additional untested and open ended gold-bismuth+ tellurium-copper soil anomalies occur to the southwest and south east that require follow-up field assessment.