It’s a lean but purposeful treasury pointed squarely at domestic ounces after cutting offshore distractions.
In Western Australia, rigs are busy at the Consolidated Dulcie gold project. The Dulcie Far North resource sits at 8.2 million tonnes at 1.15 g/t for 302,000 inferred ounces, with a broader exploration target of 10-24Mt at 0.9-1.1 g/t spanning Dulcie, Dulcie North and Dulcie Far North.
A phase one reverse circulation drilling program kicked off at Dulcie Far North in August as the opener to a 9000m-12,000m campaign aimed at converting slices of that target and probing high-grade structural positions along strike and at depth. With low-strip, open-pit geometry and multiple lodes to chase, Dulcie is shaping up as Zenith’s near-term resource-growth baton while Queensland does the heavy lifting on discovery scale.
Zenith has also been fanning out in Queensland beyond Red Mountain. Early reconnaissance delivered rock chips up to 23.3 g/t gold at the Auburn prospect, while historic hits such as 0.5m at 28.5 g/t gold with 35 g/t silver at Privateer provide the sort of smoke that matters in a district-scale IRGS hunt when stitched together with soils, magnetics and IP surveys.
Strategically, the ingredients appear to be coming together for a junior that is turning momentum into ounces. There’s a headline hole that demonstrates thickness and grade with a deeper test already in the assay queue, fresh ground is being added, pathfinder geochemistry is widening the geological picture, and the WA program is looking to deliver tangible resource updates in the near term. Add a tightened corporate story, captured in Zenith’s “cashed up and going for Aussie gold” messaging, and the stage is set for a busy spring.
Bottom line is that drilling is done and assays are next. If the deep system at Red Mountain delivers on the Mt Wright lookalike storyline and Dulcie keeps filling out, Zenith has the makings of an interesting fourth quarter. For now, eyes are on the lab and the next set of numbers.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
