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Zenith Minerals (ASX:ZNC) - CEO & Managing Director, Michael Clifford - The Market Herald
CEO & Managing Director, Michael Clifford
Source: Master Investor
  • Zenith Minerals (ZNC) has completed another 14 holes for its follow-up reverse circulation drilling program at the Red Mountain Gold Project in Queensland
  • This brings the total to 31 holes completed under this reverse circulation drilling program
  • Zenith is following-up on the high-grade near surface gold and silver intersected in a maiden drill program which yielded up tp 109.4g/t solver and 16.7g/t gold
  • Zenith has also received results for a further two holes which have encountered gold grading up to 25.9g/t gold
  • High-grade gold mineralisation has now been outlined over 250 metres of strike and remains open at depth and along strike to the north and south
  • Company shares ended the day 8.70 per cent in the green to trade for 12.5 cents

Zenith Minerals' (ZNC) step-out reverse circulation (RC) drilling program is continuing at its Red Mountain Gold Project in Queensland.

A further 14 holes have been completed which brings the total to 31 RC holes completed under this follow-up drilling program.

The drilling program is aimed at following-up on the high-grade near surface gold and silver intersected in a maiden drill program.

Results from maiden drilling included 13 metres at 8g/t gold and 3.2g/t silver from surface including six metres at 16.7g/t gold and 5.3g/t silver, and five metres at 3.5g/t gold and 54.3g/t silver from 64 metres including two metres at 8g/t gold and 109.4g/t silver.

Pleasingly, Zenith has just received results for a further two holes which have encountered high-grade gold.

Latest results include 12 metres at 8.9g/t gold from a 68-metre depth including four metres at 25.9g/t gold and 10 metres at 2.7g/t gold from surface, including four metres at 4.9g/t gold.

High-grade gold mineralisation has now been outlined over 250 metres of strike and remains open at depth and along strike to the north and south.

"These new assay results from hole 19 at Red Mountain are very pleasing, highlighting the high-grade nature of the gold mineralisation in fresh rock," CEO Mick Clifford said.

The Red Mountain project is continuing to deliver encouraging results and the company is now assessing options to accelerate activities on site to unlock the potential of the project," Mick added.

Assay results are pending for a further 12 recently-completed RC holes.

Company shares ended the day 8.70 per cent in the green to trade for 12.5 cents.


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