Zenith Minerals Limited (ASX:ZNC) Delivers Strong Drilling Results at Red Mountain Project
Drilling Results Overview
Zenith Minerals Limited (ASX:ZNC) revealed promising new drilling outcomes from the Red Mountain Gold Project in Queensland. Key intersections included 23m at 1.49 g/t gold and 4m at 4.45 g/t gold, further demonstrating the potential of this asset.
Successful Drilling Program
During this drilling phase, a total of 1,809 metres were drilled across 11 Reverse Circulation (RC) holes. The adverse weather limited the full execution of the planned drilling program, yet nearly all intended holes were accomplished. Results reaffirmed the presence of significant gold mineralisation, aligning with Zenith’s geophysical modelling.
Geological Insights and Future Plans
The drilling encountered extensive gold mineralisation within sulphide zones, which correlate with shallow Induced Polarisation (IP) anomalies. These findings provided strong evidence for ongoing exploration in this geologically rich area. Managing Director Andrew Smith expressed excitement about the findings and noted, “We look forward to advancing our exploration efforts with confidence,” highlighting the ongoing commitment to unlock the Red Mountain project’s full value.
Next Steps
Zenith plans to continue exploration efforts, focusing on deep diamond drilling along the flanks of the breccia system. A Queensland Government grant application for up to $250,000 is currently under review, which would aid in the upcoming deep drilling campaign. The upcoming phase will look to explore deeper mineralisation potential linked to the intrusion-related gold system.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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