Zenith Minerals Unveils High-Grade Gold Zones at Red Mountain, Eyes Deeper Riches

Strong Start to 2025 Drilling at Red Mountain

Zenith Minerals Limited has kicked off its 2025 drilling campaign at the Red Mountain Gold Project in Queensland with impressive assay results from the first hole, ZRMDD064. The hole intersected a broad gold zone measuring 139.7 metres at 1.05 grams per tonne gold, including standout high-grade intervals such as 14.2 metres at 4.62 g/t and 9.45 metres at 5.29 g/t. These results not only surpass previous intercepts but also reinforce the project's growing reputation as a significant gold system.

Intrusion-Related Gold System with Mt Wright Parallels

Geological observations from the drill core, including a semi-massive sulphide zone, align with the characteristics of an intrusion-related gold (IRG) system. Zenith’s technical team draws parallels to the Mt Wright deposit, a historically productive Queensland gold mine that yielded over one million ounces of gold. The presence of zinc-lead mineralisation within the gold zone further supports this analogy, suggesting that the current drilling has only tested the upper portions of the system and that higher gold grades may be encountered at greater depths.

Ongoing Drilling and Strategic Expansion

Following these encouraging results, the drilling rig has returned to the western IRG target to commence a third deep diamond hole aimed at testing the system below ZRMDD064. Meanwhile, assays from other recently completed holes, including a copper porphyry target, are awaited. Complementing the Queensland activities, Zenith is preparing to launch a major 9,000 to 12,000-metre reverse circulation drilling program at its Consolidated Dulcie Gold Project in Western Australia, fully funded by a recent $3.5 million rights issue. This program aims to validate and expand a recently defined Exploration Target, positioning the project for rapid resource growth.

Metallurgical and Economic Implications

Metallurgical testing at Red Mountain has demonstrated that much of the gold is free-milling with strong recovery rates averaging 83.3%, and up to 95.8% in samples with lower arsenic content. These findings suggest a straightforward and cost-effective processing pathway, enhancing the project’s economic viability. The combination of robust assay results, favourable metallurgy, and government co-funding for drilling underscores Zenith’s strategic positioning to advance Red Mountain towards a significant discovery.

Outlook and Market Position

Managing Director Andrew Smith highlighted the excitement surrounding the current drilling momentum and the strengthening gold price environment. With a strong pipeline of exploration news anticipated in the coming months, Zenith is well placed to deliver value to shareholders. The company’s diversified portfolio, including lithium projects and a zinc deposit interest, further supports its growth ambitions in the evolving minerals market.