Zenith extends big gold discovery with thumping hit in QLD

The West Australian11-27

Zenith Minerals has returned the latest barrage of gold results from its Red Mountain discovery in Queensland, returning exceptional intercepts up to a thumping 122 metres grading 1.28 grams per tonne...

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IRG systems are rife in the central Queensland district, including several multi-million-ounce operations akin to what Zenith believes it has just latched onto.The promising RC results sit a modest step north of the deep diamond discovery hits and the message is clear – grades are strengthening along a newly defined northwest-trending structural corridor that lights up on induced polarisation (IP) geophysics like a reliable road map for future drilling.That same IP has also coughed up a new standout look-alike anomaly just 500m south along the same trend. It mirrors the chargeability signature that now hugs the known mineralised zone and management has already flagged a first-pass drill program for early next year.Unfortunately for the company, the current seven-hole RC campaign was cut short by wet weather, however management says the program still achieved what it set out to do. The latest results have pushed the upper mineralised zone further out and given Zenith a much clearer geological picture.Four holes remain in the assay queue with multi-element analysis expected to follow and feed into the next round of targeting.Zenith says the latest results suggests the rhyolite host is getting thicker and more consistent, with a clear lift in grade as it moves closer to the IRG system’s vertical feeder.The company says its final hole which stopped early 100m west of the peak result due to weather and ground conditions, logged similar geology at a shallow depth. Zenith is now scrambling to lock in a diamond rig to deepen the hole before year-end.Armed with this refined geological model, we are well placed to advance the next phase of work, integrating RC and diamond drilling with geophysics and geochemistry to continue expanding what is an emerging, large-scale IRG system. Zenith Minerals managing director Andrew SmithThe early data from Red Mountain is already zeroing in on the high-grade core of the system with a potential second look-a-like system to the south ready for testing.Zenith remains confident its prospects share DNA with some of Queensland’s monster money-makers such as the two-million-ounce Mt Wright mine and Mt Leyshon, which hosted three million ounces of the yellow metal.Backed by a recent $7.5 million strategic placement at a premium by gold experts Ida Metals, the company’s accelerated programs mean it won’t die wondering.Zenith is also ploughing away on an extensive 9000–12,000m RC drilling campaign at its Dulcie gold project in Western Australia. The company is targeting a substantial 300,000-to-800,000-ounce exploration target at Dulcie, atop its existing substantial 8.2 million tonne resource grading 1.15g/t for 302,000 ounces.With more assays pending from Red Mountain, a possible pre-Christmas diamond tail is on the cards and a bigger integrated follow-up campaign is already being lined up for the March quarter.If the remaining assays keep the momentum rolling, Red Mountain could be shaping up as Zenith’s most important discovery to date. With the system widening, grades lifting and the feeder location sharpening, the company is heading into the new year with tailwinds at its back and a clear line of sight to a much bigger gold story.Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.11","shortVersion":"4.35.11","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2586216941","isCrawlerRequest":true}