Zenith Minerals Limited (ASX: ZNC) announced that the diamond core drilling results from the most recent two holes at the Red Mountain gold project in Queensland have extended the high-grade gold zone to 180 vertical metres.
The company said that five separate occurrences of visible gold were confirmed by assay results from two diamond core holes, with individual assays peaking at 34.2 grams per tonne gold and 10.4 g/t Au respectively.
ZNC said that the new initial 1m resample results from previously completed RC holes confirm the previous 4m composite results. These results are in addition to previously announced near surface high-grade drilling intersections. The company said that strong silver grades were also associated with gold mineralisation.
Drill program at Red Mountain
The company had recently commenced a diamond drilling program at the Red Mountain project. The drill program was planned to follow-up the high-grade near surface gold and silver intersected in the maiden drill program which included 13m @ 8.0 g/t Au & 3.2 g/t Ag from surface, incl. 6m @ 16.7 g/t Au & 5.3g/t Ag; and 15m @ 3.5 g/t Au, incl. 2m @ 22.4 g/t Au.
ZNC said that visible gold was confirmed from 2 diamond core holes ZRMRD038 and ZRMRD040, completed in the recent diamond drilling program.
Extensive visible gold and strong gold grades
Zenith reported that the DD program has confirmed extensive visible gold and strong gold grades in what is believed to be the upper levels of a breccia pipe system.
New results from these two diamond drill holes include ZRMRD040 – 3.0m @ 2.0 g/t Au, 3.7m @ 2.8 g/t Au, incl 1.0m @ 8.6 g/t Au (visible gold confirmed), 1.0m @ 1.9 g/t Au & 0.5m @ 7.6 g/t Au (visible gold confirmed), 3.0m @ 3.5 g/t Au, incl 1.0m @ 1.8 g/t Au & 1.0m @ 8.6 g/t Au (visible gold confirmed), and 1.0m @ 10.4 g/t Au (visible gold confirmed) & 0.8m @ 4.2 g/t Au visible gold at end of hole; and ZRMRD038 – 0.3m @ 1.9 g/t Au & 0.5m @ 34.2 g/t Au (hole intersected dolerite dyke in predicted main gold mineralisation position).
The company said that the newly intersected gold mineralisation is associated with base metal stringer veins with 5 separate occurrences of visible gold now confirmed in drill hole ZRMRD040, the last occurrence noted was at the end of the hole.
ZNC noted that the diamond core drilling results have extended the high-grade gold zone to 180 vertical metres. Gold mineralisation still remains open at depth. The company said that this will be the focus of further step-out drilling planned to recommence in February 2021.
New 1m resample results
The company said that the new initial 1m resample results from previously completed RC holes, confirm previous 4m composite results, including 8m @ 1.6 g/t Au from surface, incl. 1m @ 3.1 g/t Au & 1m @ 1.9 g/t Au & 1m @ 5.1 g/t Au.
New silver results
ZNC reported that strong silver grades were associated with gold mineralisation with new silver results, which include 15m @ 0.4 g/t Au with 20.4 g/t Ag, and 4m @ 0.5 g/t Au with 82.0 g/t Ag. The supporting results previously reported included 5m @ 3.5 g/t Au with 54.3 g/t Ag.
The company said that upcoming work includes drilling planned for at least three of its key flagship opportunities – Red Mountain asset (Queensland – 100% ZNC) for high grade gold, the Split Rocks asset (Western Australia – ZNC 100%) for large volume low grade gold mineralisation, and the Devlin Creek asset (Queensland ZNC – 100%) for base metals principally copper.