Zenith Minerals (ASX:ZNC) - CEO & Managing Director, Michael Clifford
CEO & Managing Director, Michael Clifford
Source: Master Investor
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Zenith Minerals (ZNC) has intersected up to 199.2g/t gold from an 81-hole aircore (AC) drilling program at the Split Rocks Gold Project in WA
  • These results have come from four separate prospects – Dulcie North, Dulcie Laterite Pit, Dulcie Far North, and the Estrela – and have reconfirmed and upgraded the high-grade gold results in these areas
  • Zenith has planned a 120-hole AC drilling program to begin this month to follow-up on the Dulcie Laterite Pit
  • Additionally, permitting is underway for the Dulcie North, Dulcie Far North, and Estrela prospects
  • Zenith’s share price is up 6.67 per cent and shares are trading for 9.6 cents each

Zenith Minerals (ZNC) has intersected up to 199.2g/t gold from an 81-hole aircore (AC) drilling program at the Split Rocks Gold Project.

The Split Rocks Project lies within the Southern Cross region in the Forrestania greenstone belt, roughly halfway between Perth and Kalgoorlie in Western Australia.

The results have come from four separate prospects – Dulcie North, Dulcie Laterite Pit, Dulcie Far North, and the Estrela – and they have reconfirmed and upgraded the high-grade gold results in these areas.

Dulcie North

Results from Dulcie North include 32 metres at 9.4g/t gold including nine metres at 31.4g/t gold, and the highest individual sample of one metre at 199.2g/t gold.

Gold mineralisation in both historic reverse circulation (RC) and the recent AC holes is coincident with zones of quartz veining in strongly weathered rocks.

Further drilling is required to track the near surface gold zone to the north, south, and at depth.

Dulcie Laterite Pit

Drilling at the Dulcie Laterite Pit was undertaken to test for gold mineralisation beneath and along strike of the existing open pit.

A total of eight sections were drilled and all intersected gold mineralisation with it remaining open to the north, south and west.

Results include two metres at 14.5g/t gold including one metre at 20.8g/t gold, and 18 metres at 2g/t gold including one metre at 23.7g/t gold.

Follow-up AC drilling to test the southern and northern strike extents of the gold mineralisation is planned to begin this month.

Dulcie Far North

Three holes were drilled at Dulcie Far North and results of five metres at 5.56g/t gold from 35 metres including four metres at 6.8g/t gold were returned.

It was originally believed that gold mineralisation in this area was flat lying and west dipping, however, Zenith uncovered two different styles of mineralisation.

These styles include gold being hosted within basaltic andesite (volcanic rock) and gold mineralisation associated with strong quartz veining.

Mineralisation remains open to both the north and south and further drilling is required to better understand the mineralisation.

Estrela

Five drill holes were completed at the Estrela Prospect to test for gold mineralisation.

The two western most holes both intersected gold mineralisation and returned results of eight metres at 1.2g/t gold from 16 metres, and four metres at 2.9g/t gold from 24 metres.

Estrela remains open to the north and permitting for a follow-up AC drilling program has begun. This program will aim to test the potential of the prospect.

“The new assays from one metre re-splits of the initial four metre composite samples confirm and, in several instances, upgrade the tenor of gold mineralisation previously reported at Split Rocks,” CEO Michael Clifford commented.

“This aircore drill program has been a great success and these results are really encouraging. It is not often that such strong gold results are returned from four separate targets within a single drill campaign,” he added.

Zenith has planned a 120-hole AC drilling program to begin this month to follow-up on the Dulcie Laterite Pit.

Additionally, permitting is underway for the Dulcie North, Dulcie Far North, and Estrela prospects.

Zenith’s share price is up 6.67 per cent and shares are trading for 9.6 cents each at 2:33 pm AEST.

ZNC by the numbers
More From The Market Online

High grade sniffs in Africa push Mako shares up 14%

Mako Gold Ltd (ASX: MKG) has seen its shares jump above 14 percent on news that it has discovered a high grade zone

Chariot ends quarter charged up on lithium find in Wyoming

Chariot Corporation has confirmed high grade spodumene at its flagship play Black Mountain in the USA…

BHP confirms £31.1B takeover bid for Anglo American

BHP HAS confirmed its offer to takeover fellow mining giant Anglo American plc, following press speculation…