Perth, Australia – 24 September 2024 | Zenith Minerals Limited (ASX: ZNC) (“Zenith” or “the Company”) is pleased to announce significant progress in preparations for the upcoming drilling campaign at the Red Mountain Gold Project in Queensland. The third phase of the drilling campaign follows a successful mid-2023 campaign, which returned highly significant results, including 118 metres @ 0.54 g/t gold from 225 metres.
Highlights:
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The campaign will target new high-priority zones identified through an updated 3D geological model and the re-interpretation of geophysical data.
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The refined model highlights additional prospective targets for gold mineralisation, particularly in previously underexplored zones.
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Expanded sampling and core analysis is underway, with 454 metres of additional core samples being prepared for laboratory assay, enhancing the understanding of mineralisation at depth.
The updated 3D geological model and re-interpretation of geophysical data, including Induced Polarisation (IP) surveys, have generated promising new target areas for exploration. These newly identified targets provide insights into the structure and mineralisation trends of the Red Mountain system, helping to further define potential high-grade gold zones.
Managing Director, Andrew Smith, commented: "We are thrilled to advance preparations for drilling at Red Mountain, a Project that, we believe, holds substantial potential. Our team has worked diligently to refine the geological model and generate high priority targets that will guide our exploration efforts. The combination of 3D geological modelling, expanded core sampling, and re-interpreted geophysics gives us confidence in the potential for a significant discovery at Red Mountain. This Project is an essential part of our strategy to unlock considerable value from our gold portfolio while continuing to advance our lithium projects in Western Australia."
The upcoming drilling campaign forms a key component of Zenith's broader strategy to transition into a multi-asset gold producer. Preparations are also underway for further drilling at the Dulcie Far North (DFN) gold project in Western Australia, which complements Zenith’s ongoing lithium exploration at Split Rocks and Waratah Well.
About us:
About Zenith Minerals:
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. In addition to the projects mentioned, the Company currently has two 100% owned lithium projects, both located in Western Australia – the Split Rocks Lithium Project and Waratah Well Lithium Project.
In addition to its battery metal assets Zenith owns a portfolio of gold and base metal projects. It retains a 25% free carried interest (to end bankable feasibility study) on the Earaheedy Zinc discovery, in Western Australia, with Rumble Resources Limited (ASX: RTR) and two main gold projects – Red Mountain in Queensland and (DFN) Split Rocks in Western Australia.
To learn more, please visit www.zenithminerals.com.au
Contact details:
Jane Morgan
Jane Morgan Management
Investor & Media Relations
[email protected]