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Zuleika Gold (ASX:ZAG) - Managing Director, Annie Guo
Managing Director, Annie Guo
Source: Zuleika Gold
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  • Zuleika Gold (ZAG) strikes broad gold mineralisation while drilling across its tenements in WA’s Goldfields region
  • Results from the first 81 aircore drill holes at the company’s Breakaway Dam prospect included 2.1 grams of gold per tonne (g/t) across 10 metres, starting just 40 metres downhole
  • Meanwhile at Credo Well, notable grades reached as high as 4.8 g/t gold over one metre, which was part of a larger two-metre assay grading at 2.9 g/t gold
  • Looking forward, Annie Guo, Managing Director of Zuleika Gold, says the company will continue to “aggressively” explore its portfolio
  • Zuleika Gold shares ended the day 7.14 per cent down at 2.6 cents each

Zuleika Gold (ZAG) has struck broad gold mineralisation while drilling across its tenements in Western Australia’s Goldfields region.

Aircore drilling at the Breakaway Dam prospect and reverse circulation drilling at the Credo Well prospect have both returned notable gold finds.

At Breakaway Dam, results from the first 81 holes have intersected numerous above-zero gold readings which, according to the company, could indicate a broad underlying mineralisation.  

Grades from this first batch of assays peaked at 2.1 grams of gold per tonne (g/t) across 10 metres, starting just 40 metres downhole. Within this notable hit was a higher-grade segment, grading at 4.3 g/t gold across a four-metre composite.  

These results build on historical gold results in the area, which have reached up 50g/t gold.

Based on the Breakaway Dam findings, the recent one-metre splits pulled during the drill program will be resubmitted for individual analysis.

Meanwhile over at Credo Well, notable grades reached as high as 4.8 g/t gold over one metre, which was part of a larger two-metre assay grading at 2.9 g/t gold.

On the back of these findings, the company has already begun planning a follow-up program to further interrogate the surrounding area.

Looking forward, Annie Guo, Managing Director of Zuleika Gold, said the company would continue to “aggressively” explore its portfolio.

“Zuleika Gold has an exceptional portfolio of highly prospective tenements covering major shears and cross cutting structures and splays,” Ms Guo said.

“This region is located about 30km northwest of the Kalgoorlie super pit (~80m ounces), has hosted numerous mines which have collectively produced in excess of 20m ounces.

“Notwithstanding the success from current and historical mines, the shear zones and surrounding areas covered by Zuleika Gold’s tenements are underexplored.

“The results the company has received from our drilling campaigns have consistently revealed broad anomalous gold zones requiring further drilling to evaluate.”

Zuleika Gold shares ended the day 7.14 per cent down at 2.6 cents each.

ZAG by the numbers
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