AUSTRALIA — Zenith Minerals Limited (ASX: ZNC) has announced significant progress in its preparations for the upcoming drilling campaign at the Red Mountain Gold Project in Queensland.
This third phase of drilling follows a successful mid-2023 campaign that yielded impressive results, including an intersection of 118 metres at 0.54 g/t gold from 225 metres depth.
The company has refined its exploration strategy through the development of an updated 3D geological model and re-interpretation of geophysical data, including Induced Polarisation (IP) surveys.
This advanced approach has led to the identification of new high-priority zones for exploration, particularly in previously underexplored areas of the project.
To further enhance their understanding of the mineralisation at depth, Zenith is conducting expanded sampling and core analysis.
The company is preparing an additional 454 metres of core samples for laboratory assay, which is expected to provide valuable insights into the gold distribution within the Red Mountain system.
Andrew Smith, Managing Director of Zenith Minerals, expressed enthusiasm about the project’s potential.
“We are thrilled to advance preparations for drilling at Red Mountain, a Project that, we believe, holds substantial potential,” Smith stated.
He emphasised the diligent work of the team in refining the geological model and generating high-priority targets to guide exploration efforts.
The Red Mountain Gold Project is a key component of Zenith’s broader strategy to transition into a multi-asset gold producer.
Concurrent with the developments at Red Mountain, the company is also preparing for further drilling at its Dulcie Far North (DFN) gold project in Western Australia.
This strategic focus on gold exploration complements Zenith‘s ongoing lithium projects in Western Australia, including the Split Rocks and Waratah Well projects.
The company’s diversified approach aims to capitalise on the increasing global demand for both precious metals and battery minerals.
As Zenith Minerals continues to advance its exploration efforts, investors and industry observers will be keenly watching for the results of this upcoming drilling campaign at Red Mountain.
The success of this program could significantly impact the company’s future prospects and its transition towards becoming a multi-asset gold producer.
