Zenith Minerals Limited (ASX:ZNC) has announced encouraging first gold assay results from its 2025 drilling campaign at the 100% owned Red Mountain Project in Queensland. Zenith Minerals is an Australian exploration company focused on advancing a diverse portfolio of gold and lithium projects located in Western Australia and Queensland. The highlight of the results is a significant intersection of 139.7 metres at 1.05 grams per tonne of gold from hole ZRMDD064.
ZRMDD064’s results also contained high-grade intervals, including 14.2 metres at 4.62 grams per tonne of gold from 276 metres, and 9.45 metres at 5.29 grams per tonne of gold from 339.55 metres. Core samples showed semi-massive sulphide zones, bolstering confidence that Red Mountain is developing as an analogue to the Mount Wright deposit. Assays are still pending for the remainder of hole ZRMDD064 and drilling has been completed at the eastern CEI-funded copper porphyry target.
The project is emerging as a classic Intrusion-Related Gold (IRG) system, with the mineralisation sharing characteristics with the Mt Wright deposit. According to Managing Director Andrew Smith, the results align with initial expectations, adding that the ongoing follow-up hole aims to test deeper into the system where stronger gold grades are anticipated. On the back of these strong results, drilling is now underway, testing a third deep diamond hole to further test the Red Mountain gold system below ZRMDD064.
Zenith is also preparing to commence a major drilling program at its recently consolidated Dulcie Gold Project in Western Australia, fully funded following the completion of a ~$3.5 million rights issue. Shareholders can anticipate a consistent flow of exploration updates in the upcoming months.
