Perth, Australia – 8 October 2024 | Zenith Minerals Limited (ASX: ZNC) ("Zenith" or "the Company") is pleased to announce the commencement of a Reverse Circulation (RC) drilling program at its Dulcie Far North (DFN) Gold Project in the highly prospective Southern Cross region of Western Australia (WA). This drilling campaign aims to significantly expand the existing gold resource, positioning the project for potential development into a standalone processing hub.
Highlights:
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RC Drilling Program: Zenith has initiated a 2,400-metre RC drilling program, targeting high-potential gold zones at Dulcie Far North, which could underpin the development of a standalone processing plant.
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Potential Resource Expansion: The program will test several high-priority targets that have been identified from recent assay results and 3D geological modelling, aiming to build on the current Mineral Resource of 3.3 million tonnes @ 1.4 g/t Au, equating to 150,000 ounces of gold.
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Approval for Dilling: Zenith has received all necessary regulatory approvals, including a Programme of Work (POW) and has completed a heritage survey, allowing for commencement of the drilling program.
Andrew Smith, Managing Director of Zenith Minerals, commented: “We are excited to commence this new phase of drilling at Dulcie Far North, a cornerstone of our exploration efforts. This drilling aims to significantly increase the size of the resource potentially providing the critical mass to develop a standalone processing plant and enable us to capitalise on the strong gold price environment.”
Project Overview:
The DFN Gold Project is located in Western Australia’s renowned Southern Cross region, an area known for its rich gold endowment, exceeding 10 million ounces. The project holds a Maiden Inferred Mineral Resource of 3.3 million tonnes @ 1.4 g/t Au, translating to 150,000 ounces of gold.
The current drilling campaign will focus on infill and step-out drilling, testing key target areas with the aim of expanding the mineral resource and establishing Dulcie Far North as a centralised processing hub.
Andrew Smith
Managing Director
info@zenithminerals.com.au
Jane Morgan
Investor and Media Relations
jm@janemorganmanagement.com.au
About us:
About Zenith Minerals Limited:
Zenith Minerals Limited is an Australia-based mining exploration company. The Company is focused on minerals containing lithium and related metals required for rechargeable lithium-ion batteries for electric vehicles and renewable energy storage. It also has a portfolio of gold and base metal deposits located in Western Australia and Queensland. Its projects are Split Rocks Lithium-Tantalum Project, Waratah Well Lithium-Tantalum Project, Hayes Hill Lithium - Nickel Project, Split Rocks Gold Project, Red Mountain Gold-Silver Project and Earaheedy Zinc Project. The Split Rocks Project is located approximately 40 km south of the regional town of Marvel Loch in the Goldfields Region of Western Australia. The Waratah Well project is located over 20 km northwest of the regional town of Yalgoo in the Murchison Region of Western Australia. The Hayes Hill project consists of four granted exploration licences in a highly mineral prospective corridor north of Norseman in Western Australia.
Contact details:
Jane Morgan
Investor and Media Relations
jm@janemorganmanagement.com.au
