Zenith Minerals (ASX: ZNC), a leading mining and exploration company, is thrilled to announce significant findings from the Company’s 100% owned Red Mountain Project in central Queensland. The assay results from a comprehensive deep diamond drilling program consisting of three holes for 1,450 meters were completed between May and July of this year.
Notable Drill Results: Drill hole ZRMDD052 revealed 118m at 0.54 g/t Au + 11.9 g/t Ag from 225m, including sub-intervals of 12m at 1.36 g/t Au + 4.93 g/t Ag from 288m, and 9m at 1.24 g/t Au + 6.30 g/t Ag from 323m.
Drill hole ZRMDD051 included 11m at 0.45 g/t Au + 4.54 g/t Ag from 183m, and 11m at 1.16 g/t Au + 1.08 g/t Ag from 224m.
Target Depth: Zenith is targeting its Intrusion Related Gold Breccia Pipe (IRG) discovery down to 400m below surface.
Previous High-Grade Intersections: Earlier shallow drilling programs had shown impressive results including 13m at 8.0 g/t Au, 15m at 3.5 g/t Au, 12m at 4.9 g/t Au, and 5m at 10.4 g/t Au.
Executive Chair David Ledger said: "We are excited by these gold and silver intersections that now demonstrate not only the excellent continuity of mineralisation at Red Mountain within 400m from surface, but also a significant increase in mineralised widths at depth, as predicted by our modelling”.
The diamond drilling program has confirmed the depth continuity of gold and silver mineralisation occurring as stockwork, sheeted and extensional quartz and minor base metal veins hosted primarily within rhyolite and granodiorite. Base metal minerals include chalcopyrite (max 0.12% Cu from 353- 354m), sphalerite (max 0.91% Zn from 327-328m) and galena (max 0.46% Pb from 398-399m) within ZRMDD052. See Figures 1 to 4 and Table 3 for a complete list of gold and base metal intersections. While true widths remain undetermined at this stage, the scale of the mineralisation encountered confirms there is excellent potential for a large mineralised system at Red Mountain.
An Induced Polarisation (IP) anomaly, previously untested at depth, was the focus of the current drilling program, reflecting a likely westerly dip to the breccia pipe. The pipe has now been confirmed to dip east and the IP anomalism can be attributed to the expansive sulphidic, flow banded rhyolite (flow dome) intrusion extending westward, away from the mapped breccia pipe.
Follow-up drilling will now be planned to scope the lateral and depth extents of the rhyolite hosted mineralisation.
Zenith Minerals Limited (ASX:ZNC) is an Australian-based minerals exploration company leveraged to the increasing global demand for metals critical to the production processes of new energy industrial sectors.