Zenith pushes Queensland gold system beyond 700m depth

The West Australian04-10

Zenith Minerals has taken a big step towards proving up the true scale of its Red Mountain gold project in Queensland.Deep diamond drilling has now plumbed the depths of gold mineralisation beyond 700...

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Fresh deep diamond drilling is now steering the hunt for higher-grade targets.","collect":0,"end_time":0,"defaultTopTitle":"thewest.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"GDXY":"YieldMax Gold Miners Option Income Strategy ETF","UGL":"2倍做多黄金ETF-ProShares","BK4207":"综合性银行","RING":"iShares MSCI Global Gold Miners ETF","LU2463526074.USD":"NORDEA 1 - GLOBAL CLIMATE ENGAGEMENT \"BP\" (USD) ACC","AAAU":"Goldman Sachs Physical Gold ETF","XME":"金属与采矿指数ETF-SPDR","IE00B3T34201.USD":"BNY MELLON GLOBAL EQUITY INCOME \"B\" (USD) INC","USG":"USCF Gold Strategy Plus Income Fund","LU1481600234.SGD":"THREADNEEDLE (LUX) UK EQUITY INCOME \"ASC\" (SGDHDG) INC","JDST":"金矿指数二倍做空ETF","OUNZ":"VanEck Merk黄金股票基金","BEGS":"RAREVIEW 2X BULL CRYPTOCURRENCY & PRECIOUS METALS ETF","IP":"国际纸业","LU1169590202.USD":"ALLSPRING (LUX)  U.S. SELECT EQUITY \"I\" (USD) ACC","LU1487256676.USD":"THREADNEEDLE (LUX) UK EQUITY INCOME \"ZUH\" (USDHDG) ACC","GLL":"2倍做空黄金ETF-ProShares","DULL":"MICROSECTORS GOLD -3X INVERSE LEVERAGED ETN","BK4585":"ETF&股票定投概念","SGOL":"Abrdn Gold ETF Trust","GOLY":"Strategy Shares Gold Enhanced Yield ETF","RC":"Ready Capital Corp","DBC":"商品指数ETF-PowerShares DB","GDX":"黄金矿业ETF-VanEck","BK4136":"纸材料包装","BTGD":"STKD Bitcoin & Gold ETF","GLDM":"SPDR Gold MiniShares Trust","IAU":"黄金信托ETF-iShares","GDXD":"MicroSectors Gold Miners -3x Inverse Leveraged ETN","BK4535":"淡马锡持仓","DGP":"二倍做多黄金ETN(PowerShares)","PHYS":"Sprott Physical Gold Trust","DUST":"二倍做空黄金矿业指数ETF-Direxion","BK4504":"桥水持仓","GDXJ":"小型黄金矿业ETF(Market Vectors)","DZZ":"德银黄金两倍做空ETN","BK4110":"抵押房地产投资信托","BAR":"GraniteShares Gold Shares","FGDL":"FRANKLIN RESPONSIBLY SOURCED GOLD ETF","IAUI":"NEOS Gold High Income ETF","LU1481599808.USD":"THREADNEEDLE (LUX) UK EQUITY INCOME \"AUC\" (USDHDG) INC","GDXU":"MicroSectors Gold Miners 3x Leveraged ETN","CEF":"Sprott Physical Gold & Silver Trust","GBUG":"Sprott Active Gold & Silver Miners ETF","JNUG":"金矿指数二倍做多ETF","BK4588":"碎股","PICK":"iShares MSCI Global Metals & Mining Producers ETF","LU1169589451.USD":"ALLSPRING (LUX)  U.S. SELECT EQUITY \"A\" (USD) ACC","IAUM":"ISHARES GOLD TRUST MICRO","GLTR":"abrdn Physical Precious Metals Basket Shares ETF"},"translate_title":"Zenith推动昆士兰黄金系统深度突破700m","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CEF":1.5,"JDST":1.5,"DUST":1.5,"OUNZ":1.5,"GDXY":1.5,"BEGS":1.5,"UGL":1.5,"FGDL":1.5,"AAAU":1.5,"GBUG":1.5,"DBC":1.5,"GDX":1.5,"GOLY":1.5,"GLL":1.5,"DULL":1.5,"RING":1.5,"IAUM":1.5,"GDXJ":1.5,"PICK":1.5,"XME":1.5,"GLDM":1.5,"IAU":1.5,"IP":1,"GLTR":1.5,"BAR":1.5,"SGOL":1.5,"DGP":1.5,"PHYS":1.5,"IAUI":1.5,"RC":1,"USG":1.5,"GDXU":1.5,"DZZ":1.5,"JNUG":1.5,"GDXD":1.5,"BTGD":1.5},"content_text":"Zenith Minerals has taken a big step towards proving up the true scale of its Red Mountain gold project in Queensland.Deep diamond drilling has now plumbed the depths of gold mineralisation beyond 700 metres vertical depth, reinforcing the continuity of a broad breccia-hosted intrusion-related gold system (IRGS) at depth.The company’s two most recent diamond tails are the deepest holes drilled at Red Mountain so far and have extended the mineralised corridor by a further 350m below previous drilling.Among its standout results, one hole, which ended at 731m downhole depth, returned a best intercept of 333m grading 0.27 grams per tonne gold from 388m downhole. The intersection also encountered narrow high-grade veins such as 2m at 6.55g/t gold and 2.2m at 4.16g/t gold.A second diamond hole, plunged even deeper to 758m, was drilled as a re-entry tail off the bottom of a previous reverse-circulation (RC) hole from 210m.That hole delivered 167m assaying 0.29g/t gold from 176m, including 4m grading 1.36g/t gold and 1.1m at 3.85g/t gold. The intersection finished with a separate 113.73-metre flourish going 0.31g/t gold from 476m, featuring 1.48m at 5.01g/t gold.The long intercepts appear to add weight to Zenith’s view that Red Mountain is shaping up as a large intrusion-related gold system, with the mineralised breccia corridor still open along strike and at depth to the northwest, west and southeast.ZRMCD073 and ZRMCD067 have confirmed the impressive scale and continuity of the Red Mountain IRG system, now defined to over 700 m vertically. Combined with our newly built 3D geochemical model, these results significantly improve our understanding of the rhyolite feeder and sills geometry and are directly guiding us toward the higher-grade core of the system. Zenith Minerals managing director Andrew SmithThe fresh deep diamond results also added down-dip extension data to the reverse circulation (RC) drill assays reported in December.The previously reported RC sections from the freshly re-entered hole included a 7-metre section running 0.99g/t gold from 177m within a broader 34-metre stretch assaying 0.39g/t gold from 176m to end of hole.That intercept turned out to be the strongest breccia-hosted gold run to date above the rhyolite zone, now backed up by deeper drilling that pushes the system well beyond previous limits.By taking the new deep holes beyond 700m vertical depth, the drill bit has significantly extended the vertical extent of the system, while sharpening Zenith’s understanding of the intrusive rhyolite feeder and sill geometry.The earlier RC program also highlighted how gold grades appeared to strengthen westward in parts of the breccia and rhyolite contact zone, helping to direct the focus of the follow-up diamond drilling strategy.  Notably, Zenith also recently bolstered its targeting confidence through new 3D geochemical modelling, which highlighted metal zonation across the system.The company says that modelling lit up zinc, cadmium and lead dominating the western side of the system, shifting to a copper, bismuth and tellurium signature along the southeastern margin closer to the intrusion.Whilst drilling has been limited, Zenith believes the best shot at finding high-grade gold lies in that marginal area, offering a new target for the next round of drilling.  Zenith is now planning an additional 3000m RC drilling program to test lateral extensions of the breccia system, the newly defined geochemical target corridor and two priority induced polarisation (IP) anomalies, coinciding with low magnetic and resistivity signatures.  If the next round of drilling can home in on the higher-grade core of the system, Red Mountain could quickly shift from a compelling geological story to a genuine growth asset for Zenith.For now, the company has clearly shown the system has serious legs - remaining open at depth and along strike - and it is lining up the next shots to see just how good the best parts can get.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":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":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,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.40.0","shortVersion":"4.40.0","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/2626659641","isCrawlerRequest":true}