- Zenith Minerals has unveiled encouraging 1m assay results from reverse circulation drilling at its wholly owned Split Rocks gold project.
- The results validate and extend gold mineralisation at multiple prospects.
- Gold mineralisation remains open and will be the focus of further RC drilling.
- ZNC has booked an aircore drill rig to test new gold targets under its fully permitted 100-hole drill program.
Gold and base metals explorer Zenith Minerals Limited (ASX:ZNC) continues to make major headways, the latest being the encouraging assay results for its Split Rocks gold project in Western Australia.
ZNC has received the final 1m assay drill results from second phase RC drilling program that have confirmed robust gold mineralisation across several prospects. Previously, the company had reported encouraging 4m composite assay results.
Preliminary 4m Composite Assay Results: Zenith Minerals’ (ASX:ZNC) Shares Rocket After Drilling Confirms New Gold Zones at Split Rocks
Significant 1m Assay Results
For the Dulcie Laterite Pit Extension (9 holes), the new 1m results successfully expand gold mineralisation to an additional 500m south with aggregate gold mineralised strike now surpassing 2000m. The new 1m results include the following:
- 3m @ 17.9 g/t Au
- 8m @ 2.0 g/t Au, incl. 2m @ 7.2 g/t Au
- 5m @ 1.9 g/t Au and 7m @ 2.0 g/t Au
Dulcie Laterite Pit Extension – Cross Section with Drill Results (Source: ZNC Announcement 21/04/21)
Furthermore, Dulcie Laterite Pit Infill (7 holes) intersected thick near-surface gold zones such as:
- 19m @ 1.6 g/t Au from 27m depth, incl. 3m @ 7.4 g/t Au
- 20m @ 0.9 g/t Au from 18m depth, incl. 5m @ 2.0 g/t Au
Follow-up testing of a near-surface high-grade gold zone at Dulcie North (4 holes) has confirmed near-surface mineralised zone strikes east-west. The zone, which was intersected in previous ZNC drilling including 32m @ 9.4 g/t Au, remains open in both directions and at depth.
The new results include the following:
- 8m @ 4.8 g/t Au from 17m depth, incl. 3m @ 6.9 g/t Au
- 23m @ 1.1 g/t Au from 8m depth, incl. 3m @ 3.4 g/t Au
- 8m @ 1.0 g/t Au from 8m depth, incl. 1m @ 6.3 g/t Au
Moreover, at Water Bore (6 holes), follow-up testing of gold mineralisation identified a new near-surface west-dipping gold zone which remains open to the south and includes the following:
- 3m @ 6.6 g/t Au
- 3m @ 3.7 g/t Au
- 5m @ 1.3 g/t Au
Water Bore Zone – Cross Section with Drill Results (Source: ZNC Announcement 21/04/21)
Gold Potential at Split Rocks
Initially, ZNC geological team identified 12 high-quality gold drill targets at the project, and the number was later extended to 18 targets in the north eastern sector of the project.
Eight of the 18 targets identified by ZNC are yet to have first pass drill testing, which is scheduled to progress by aircore alongside follow-up work on the significant near-surface gold results at the 4 Dulcie targets, Dulcie Laterite Pit, Dulcie North, Dulcie Far North & Water Bore.
Ongoing and Upcoming Work
ZNC holds an option to gold rights below 6m from surface at the Dulcie Heap Leach Gold Operation, where the mining and heap leaching of surface gold laterite ore is being carried out by its partner.
The new 1m assay results reported are from the 32-hole RC program, testing six crucial zones dedicated across the Dulcie area.
Source: ZNC Announcement 21/04/21
ZNC has booked an aircore drill rig for the fully permitted 100-hole drill program, which is slated to commence in June 2021. The program aims at testing new gold targets along 18km of prolific strike, while targets at Water Bore and Dulcie North warrant additional follow-up RC testing.
The ZNC stock increased by 11.32% to AUD 0.295 with an AUD 78 million on 27 April 2021.