The board of Zenith Minerals (ASX: ZNC) has approved a major reverse circulation drilling campaign to test a large-scale gold zone identified during exploration at the Split Rocks gold project near Southern Cross in WA.
The gold-bearing bedrock shear zone at the Dulcie laterite pit extends over 2 kilometres in strike and 300 metres down-dip with a thickness of up to 40m and averaging 13m.
The depth extent is yet to be fully determined.
The zone was identified from aircore drilling earlier this year, where results included 16m at 3.7 grams per tonne gold, 4m at 2.7g/t, 8m at 1.1g/t and 4m at 1.7g/t.
Drilling schedule
The new drilling campaign is scheduled to commence next month and will comprise an initial 28 holes for 3000m.
It will focus primarily on the shallow upper portion of the mineralised target and results are expected to be available before year end.
Chairman Peter Bird said the move to a more advanced stage of exploration at Split Rocks will affirm Zenith’s position in the precious and base metals space.
“Split Rocks is one of our most advanced projects in a first-class portfolio and we feel it will positively position us in [our sector],” he said.
“The gold price remains very strong and the outlook for base metal demand fuelled by projected infrastructure spending aligns well with our dominant commodity mix… we remain optimistic that our approach will generate value.”
Project location
Split Rocks is located within the Southern Cross region in the Forrestania greenstone belt, halfway between Perth and Kalgoorlie.
Several large existing and historic gold mines located north and south along strike of the company’s acreage are believed to confirm the region’s mineral endowment.
Drilling to date has tested 10 prospects with high-grade, near-surface gold results from Dulcie North, Dulcie Laterite Pit, Estrela and Dulcie Far North.
Dulcie North returned 32m at 9.4 grams per tonne gold including 9m at 31.4g/t, with the highest individual 1m sample returning 199.2g/t gold.
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