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Zuleika Gold (ASX:ZAG) - Managing Director, Annie Guo
Managing Director, Annie Guo
Source: 6PR
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  • Zuleika Gold (ZAG) and joint venture partner Torian Resources (TNR) have reported strong aircore drilling results from the Paradigm East prospect in WA
  • The results come from a 3800-metre, 68-hole program designed to follow up stellar drilling results reported from the prospect in October 2020
  • Of the 68 holes drilled, 25 returned hits bigger than four metres and grading over 100 parts per billion of gold
  • The JV partners said this confirms the potential of the Paradigm East zone to host significant gold mineralisation
  • Zuleika’s namesake Zuleika project is in the Kalgoorlie-Menzies goldfields region of Western Australia
  • The company is busy earning a 75 per cent interest in the project through a farm-in joint venture with Torian Resources
  • Zuleika shares are trading grey this morning at 4.2 cents each, while Torian shares are down 3.45 per cent to 5.6 cents each

Zuleika Gold (ZAG) and joint venture partner Torian Resources (TNR) have reported strong aircore drilling results from the Paradigm East prospect in WA.

The prospect is part of Zuleika’s namesake Zuleika project in the prolific Kalgoorlie-Menzies goldfields region of Western Australia.

Today’s results come from a 3800-metre, 68-hole aircore program at Paradigm East that was designed to follow up some stellar results from reverse circulation (RC) drilling completed in October 2020.

Of the 68 holes drilled, 25 returned gold hits bigger than four metres and grading over 100 parts per billion of gold.

According to Torian and Zuleika, this confirms the potential of the Paradigm East zone to host significant gold mineralisation.

The best hits included a 12-metre intersection at 3.3 grams per tonne (g/t) gold from 68 metres, which itself included a four-metre hit at 6 g/t gold from 72 metres. The JV partners also struck a 28-metre intersection grading 0.22 g/t gold from 44 metres.

Zuleika Managing Director Annie Guo said today’s results confirm geological models developed from historical drilling data from the Paradigm East project area along with drilling results from Zuleika’s 2020 drilling program.

“The high-grade intersections confirmed the presence of hydrothermal gold mineralising fluids along 1.8 kilometres of the 2.5-kilometre strike tested to date,” Annie explained.

“This gold mineralisation is present both within the weathered zone and fresh primary bedrock, supporting the geological model that the Zuleika Gold technical team developed in 2020,” she said.

“We will continue to test this highly prospective Paradigm East corridor with infill and extended aircore drilling followed by targeted RC drilling.”

Zuleika changed its name from Dampier Gold to Zuleika Gold in February 2021 to reflect the company’s strong focus on its flagship project. ZAG is busy earning a 75 per cent interest in the Zuleika project through its farm-in joint venture deal with fellow ASX-listed Torian Resources.

Zuleika shares are trading grey at 10:53 am AEDT to 4.2 cents each.

Meanwhile, Torian shares are down a slight 3.45 per cent to 5.6 cents on the back of a $4 million share placement completed today.

ZAG by the numbers
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