Gold Drilling Results Provide a Promising Outlook for Zenith Minerals’ Red Mountain Gold Project

Key Highlights of Recent Drill Results

• Significant Intercepts: Notable findings include a 23-meter intercept at 1.49 g/t Au, with a high-grade sub-interval of 2 meters at 11.3 g/t Au. Additionally, a 4-meter intercept at 4.45 g/t Au from 122 meters depth, including 2 meters at 8.11 g/t Au, stands out as another promising result.
• Geophysical Confirmation: Drilling successfully intersected widespread gold mineralization coinciding with shallow Induced Polarisation (IP) geophysical anomalies. This correlation reaffirms the validity of IP techniques in targeting high-value gold deposits.
• Geological Insights: The project continues to show strong geochemical anomalies, particularly for elements like molybdenum, tungsten, and bismuth. These "pathfinder" elements strongly suggest the presence of a potentially large-scale, intrusion-related gold system (IRGS), similar to successful operations in nearby mining regions.

The Red Mountain Gold Project in Queensland has unveiled some highly encouraging drilling results, presenting a significant milestone in the ongoing exploration of this prospective site. Following an extensive 1,809 meters of drilling, the latest data confirms the presence of notable gold mineralization and validates the effectiveness of Zenith Minerals’ (ASX:ZNC) exploration methods.

Drilling Methodology and Execution

Zenith Minerals (ASX:ZNC) conducted 11 Reverse Circulation (RC) holes across the site, with nearly all planned drilling successfully completed despite challenges posed by adverse weather conditions. The program’s goal was to test high-priority IP anomalies that were identified using a sophisticated 3D geological model. This phase builds upon previous drillings, which had already revealed significant gold mineralization at depth.

As the results come in, it becomes clear that the Red Mountain Project may be on the verge of a significant discovery. The geochemical modeling and subsequent drill results demonstrate that the site holds promise not only for gold but also for critical elements tied to the energy transition, such as copper and molybdenum.

A Step Closer to Understanding the Gold System

Zenith Minerals’ (ASX:ZNC) commitment to advancing exploration has led to insightful findings that point to a potential "gold window" at greater depths within the breccia system. Previous drilling efforts have encountered significant mineralization down to depths of 225 meters, and the company is now turning its focus to deeper exploration, potentially beyond 200 meters, to fully understand the extent and nature of the mineralization.

The key to the next phase lies in a deep diamond drill hole planned for 2025. This new drill hole aims to probe the deeper sections of the Red Mountain system, allowing for more precise mapping of the mineralization and better targeting for future drill programs. A significant pre-collar (ZRMRC061) has already been drilled to pave the way for this deeper exploration, which is expected to unlock more answers about the gold mineralization’s source.

What’s Next for Red Mountain?

Zenith Minerals (ASX:ZNC) is already planning its next steps. Pending approval of a Queensland Government grant, the company could receive up to $250,000 in funding to accelerate deeper drilling efforts and further geophysical studies. If awarded, this funding will facilitate the testing of deeper sections and the further evaluation of the mineralization controls at Red Mountain.

Additionally, the integration of third-party geological expertise, such as input from RSC Consulting, will further refine the geological models and help assess the overall potential of the site. This collaborative approach strengthens the confidence in the project's future.

Exploration Techniques Confirmed and Future Targeting

A key takeaway from the recent drilling campaign is the success of the geophysical targeting approach. The correlation between the IP anomalies and the gold mineralization not only validates Zenith Minerals' (ASX:ZNC) method but also opens up further opportunities for using advanced techniques like Induced Polarisation in future exploration programs. This will likely lead to more precise drilling targets, ultimately helping Zenith Minerals (ASX:ZNC) unlock further gold deposits within the Red Mountain area.

Furthermore, the pathfinder elements detected in the drilling—such as elevated levels of molybdenum and antimony—are consistent with a well-developed IRGS, which could yield substantial gold mineralization at depth. As exploration continues, these geochemical signatures will provide valuable indicators for future drill targeting, particularly as Zenith Minerals (ASX:ZNC) plans to expand its efforts to test the deeper, more prospective zones of the system.

Geological Context: Learning from Mt Wright

In terms of geological context, Zenith Minerals (ASX:ZNC) is drawing comparisons to nearby gold mines, such as Mt Wright, which share similarities with Red Mountain. As geochemical modeling suggests, the gold mineralization at Red Mountain might be tied to a deeper magma source, with the surface anomalies pointing to the potential for even richer deposits deeper within the system.

The presence of significant molybdenum anomalism, for instance, reinforces the theory that the system is a high-potential IRGS, which could offer large-scale, high-grade gold mineralization, similar to systems like Mt Wright.

What’s Next?

As the exploration at the Red Mountain Gold Project continues to evolve, the recent drilling results and the potential for deeper exploration in 2025 highlight the exciting opportunities that lie ahead. With promising gold intercepts, validation of geophysical methods, and strong geochemical support, Zenith Minerals (ASX:ZNC) is positioning itself for a breakthrough discovery.

The next phase of drilling and further funding will likely reveal even greater insights into the project’s full potential, possibly unlocking one of the most exciting gold exploration opportunities in Queensland.