122m at 1.28 g/t Au Highlights Growing Gold System at Red Mountain

Expanding Gold Footprint at Red Mountain

Zenith Minerals Limited (ASX – ZNC) has announced compelling assay results from its recent reverse circulation (RC) drilling campaign at the Red Mountain Gold Project in Queensland. The initial batch of assays from three holes reveals a significant expansion of the known intrusion-related gold (IRG) system, with gold grades notably increasing along a northwest strike to the north.

The standout intercept from hole ZRMRC068 returned 122 metres at 1.28 grams per tonne (g/t) gold from 209 metres depth, including a high-grade core of 55 metres at 2.18 g/t gold. This includes exceptional individual samples, such as a 1-metre interval grading 30.9 g/t Au, underscoring the presence of rich mineralisation within the breccia-hosted system.

Supporting Evidence from Deep Diamond Drilling

These RC results complement recent deep diamond drilling that has delineated both the scale and grade continuity of the system. Notable diamond drill intercepts include 139.7 metres at 1.05 g/t Au and an extensive 349.95 metres at 0.47 g/t Au with visible gold observed in altered granite breccia. These findings confirm a vertically extensive mineralised column, characteristic of large-scale IRG systems.

Refined Geological Model and Geophysical Insights

The new data has enabled Zenith to refine its geological model, identifying mineralisation hosted within a breccia pipe controlled by a northwest-trending structural corridor. Higher-grade gold zones are concentrated within internal rhyolite sills, which appear to thicken and become more coherent to the north, suggesting proximity to a vertical feeder intrusion, a key target for high-grade mineralisation.

Importantly, previously collected Induced Polarisation (IP) geophysical data aligns closely with the interpreted mineralised corridor, providing a valuable targeting tool. This geophysical signature has also revealed a new drill-ready target approximately 500 metres south of the current footprint, exhibiting similar characteristics and structural orientation.

Challenges and Next Steps

The recent RC drilling program was curtailed early due to adverse weather conditions, with seven holes completed totaling around 2,399 metres. Four additional RC holes await assay results, and plans are underway to extend key holes with diamond tails to test deeper mineralisation. A priority is to re-enter hole ZRMRC073, which was terminated early due to difficult ground conditions, to better understand the system’s geometry.

Looking ahead, Zenith intends to integrate RC and diamond drilling with further geophysical surveys and surface geochemistry in early 2026. This multi-disciplinary approach aims to expand the known mineralised envelope and evaluate additional targets within this emerging gold district.

Strategic Significance of Red Mountain

Located within Queensland’s Auburn Arch, the Red Mountain Project shares geological similarities with major Australian gold deposits such as Mt Wright and Mt Rawdon. Metallurgical testwork indicates that much of the gold is free-milling with high recovery rates, supporting a potentially straightforward and cost-effective processing route. With 100% ownership and existing infrastructure, Red Mountain is positioned as a cornerstone asset in Zenith’s portfolio, underpinning the company’s growth strategy in gold exploration.