THE DRILL SERGEANT: Zenith Minerals (ASX: ZNC) reported on recent exploration drilling underway at the company’s 100 per cent-owned Red Mountain gold project located in Queensland.
Zenith Minerals said the drilling had produced highly encouraging high-grade gold drill assay results that have outlined a sub-vertical, shallow north east plunging, high-grade gold zone to a vertical depth of 200 metres.
The company achieved a new intersection in hole ZRMRD042 of:
21 metres at 1.9 grams per tonne gold, including 9m at 3.2g/t gold.
Zenith declared this had extended high-grade gold mineralisation 80m below a previously encountered intersection.
“Another solid high-grade drill intersection at Red Mountain on the north western flank in hole 042 firms up the location of the high-grade gold shoot which is now shown to be plunging to the northeast,” Zenith Minerals chairman Peter Bird said in the company’s ASX announcement.
“The company has to date only tested the northeast quadrant representing a fraction of the prospective “ring structure”.
“Resource definition will add significant value to the business.
“Red Mountain is only one of three exciting core projects being advanced by the company, whilst a fourth – the Earaheedy zinc-lead joint venture provides exciting additional value potential.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE