Shallow RC from prior campaigns delivered hits like 13m at 8.0 g/t gold from surface and 5m at 10.4 g/t, with positive metallurgy already boasting 95.8 per cent recoveries for the system via cyanide leaching.
Zenith Minerals managing director Andrew Smith said: “Red Mountain keeps getting bigger — and now we’re moving faster. With final assays from ZRMDD066 confirming a continuous gold system extending beyond 530 metres vertical depth, open in every direction, and featuring the first visible gold at depth, we’re seeing genuine scale emerging.”
Red Mountain lies within the Auburn Arch near its IRG kin in Mt Wright and the plus 5-million-ounce Mt Rawdon.
A recent $7.65 million strategic investment from established gold miner Ida Metals is set to fund Red Mountain and the company’s Dulcie gold projects RC push.
Back at the extensive 9000–12,000m RC campaign at Dulcie in Western Australia, diamond tails are being prepped as drilling targets a substantial 300,000-to-800,000-ounce exploration target atop an existing 8.2 million tonne resource grading 1.15g/t for 302,000 ounces.
Both projects have been earmarked for a girthy $3 million of drilling over a six-month period, indicating it is all systems go for the dual-pronged gold explorer.
Gold’s run past US$4000 an ounce (A$6100) doesn’t hurt either and lines up nicely with Zenith’s acivities.
Assays from the RC program will roll in progressively.
If the shallow zones expand outward to reveal an extensive IRG target that could continue to depths beyond the already tested top 500m, all that will remain for the company is to find that steaming hot high-grade core of the system and Red Mountain will be off to the races.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
