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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 received assay results from a further six reverse circulation (RC) drill holes at the Red Mountain Gold Project in Queensland
  • Results peaked at 4.6g/t gold and results received to date outline a zone of high-grade near surface gold mineralisation spanning a length of more than 300 metres
  • Gold results are pending for a further six RC holes while silver results are pending for 21 holes
  • Zenith is now assessing options to speed-up activities at Red Mountain, including moving a diamond drill rig to the site
  • Company shares are down 4.35 per cent and are trading for 11 cents each

Zenith Minerals (ZNC) has received assay results from a further six reverse circulation (RC) drill holes at the Red Mountain Gold Project in Queensland.

Best results include four metres at 4.6g/t gold from 48 metres plus seven metres at 2.6g/t gold from 61 metres and eight metres at 3.9g/t gold from 100 metres.

Results received to date outline a zone of high-grade near surface gold mineralisation spanning a length of more than 300 metres.

Further, this mineralisation remains open at depth and along strike to the south where recent RC drilling intersected similar rock types to those hosting gold mineralisation.

Gold results are pending for a further six RC holes while silver results are pending for 21 holes.

"These new results provide further encouragement at Red Mountain, both the high tenor of gold as well as the wide lower grade gold attest to a large mineralising system," CEO Mick Clifford commented.

"As drilling progresses at Red Mountain, particularly with diamond core, the overall continuation of the gold mineralisation will become clearer," he added.

Zenith is now assessing options to speed-up activities at Red Mountain, including moving a diamond drill rig to the site.

Company shares are down 4.35 per cent and are trading for 11 cents each at 2:33 pm AEST.


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