In total, 78 RC holes have now been drilled in the current campaign, with assays still pending for 70 of them, setting Zenith up for a flood of near term news flow. The company says the completed holes appear to represent just the opening stanza of a much larger story – already underlining the exploration target of 10 to 24 million tonnes grading 0.9 to 1.1g/t gold.
Zenith Minerals managing director Andrew Smith said: “These first results are what we wanted to see – continuity, scale and a strong match to our exploration target model. With drilling now complete, we await assays for the remaining 70 holes, which tested along strike and down-dip of the entire Dulcie corridor. Our objective is clear: convert geological confidence into JORC-compliant resources across the consolidated Dulcie corridor.”
The strategic value of Zenith’s position is becoming clearer by the day. In addition to having a foothold across 6-kilometres of continuous mineralisation, the company now controls all subsurface rights along the trend, including a recently acquired 3-kilometre extension. The new ground also contains an active heap-leach operation, which means the pathway to development is already loaded with infrastructure and permitting history.
With the rigs silent for now and assays pending for the majority of holes, the market’s attention will likely shift to the upcoming resource work. Once the full suite of results arrives, Zenith expects to move rapidly towards maiden JORC resources at both Dulcie and Dulcie North.
If the early numbers are any guide, the Consolidated Dulcie corridor may soon graduate from exploration target to a fully-fledged, multi-deposit WA gold system.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
