Zenith is working on the premise the mineralised zone stretches open to the west and down dip based on high-powered IP chargeability surveys lining nicely with the mineralised rhyolite.
The company has plans for a 10 to 15-hole reverse circulation (RC) campaign later in the month to map the upper sill’s full spread to the west and zero in on the higher grade IRGS core.
Zenith says its holes will case off for diamond tails if needed, expecting multi-element data to steer the plan with full results from the second hole due soon.
The setup mirrors Mt Wright Mt Leyshon and Mt Rawdon with breccia pipes and intrusive feeds that have banked millions before.
Zenith Minerals managing director Andrew Smith said: “These results support our interpretation that we’re on the outer halo of a larger mineralising system, with strong potential for higher-grade zones at depth and to the west. We’re now expediting our next phase of RC drilling to test the full lateral extent and vector towards the high- grade core. With further assays still pending, momentum is building rapidly — and we’re confident we’re advancing towards a significant new gold discovery at Red Mountain.”
Meanwhile, in Western Australia phase two RC drilling started at Zenith’s Consolidated Dulcie gold project with 9000-12,000m on the slate for a exploration target of some 0.3-to-0.8-million-ounces. The drilling spans a window across more than 6-kilometres from Dulcie to Dulcie North and Dulcie Far North.
The expansive program aims to add to an already substantial 8.2 million tonne resource grading 1.2g/t gold for 302,000 ounces at Dulcie Far North.
The plan includes infill drilling aiming to boost resource categories, step-outs along strike and at depth as well as targeting new zones like footwall lodes, fold noses and BIF horizons that have delivered high grades in Forrestania before.
The dual Australian gold push is in almost perfect sync with the market, with Zenith revealing wider zones with deeper hits and increasing prospects for scale just as gold notched past US$4000 an ounce ($A6097) today for the first time in history. The company’s plans for 300,000+ ounce WA resource couldn’t be more timely.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
