Zenith Minerals has started a follow-up drill program to a depth of 400m at its Red Mountain gold project in Central Queensland.
It comes after the company intersected high-grade near-surface gold in the maiden and subsequent drill programs last year.
The results last year included 13m grading at 8g/t gold and 3.2g/t silver, and 15m at 3.5g/t gold including 2m grading at 22.4g/t gold.
“Should this round of much deeper drilling intersect gold mineralisation of a similar type to that in ZRMR040 (where free gold was identified in five separate intersections) then we will be at a very positive and pivotal point for the Red Mountain gold project,” Zenith executive chairman Peter Bird said.
“We are currently very confident that we are drilling a breccia pipe system which is mineralised.
“The trick now is to chase a commercial scale gold inventory which has the potential to add significant value to the business.”
An initial four diamond drill holes up to 400m depth will form the first part of the current campaign.
Zenith said drilling was anticipated to take about three weeks, with assay results a further three weeks away.
Following completion of this work at Red Mountain it anticipated the rig would be mobilised to the company’s Develin Creek copper-zinc project.