ZNC zenith minerals limited

As I read it there are still 6 more RC holes that have already...

  1. 5,433 Posts.
    lightbulb Created with Sketch. 4461
    As I read it there are still 6 more RC holes that have already been completed but haven't got assay numbers back yet, but yes they have stopped drilling RC for the moment.

    The next meaningful announcement will be the final RC results from holes 26 to 31 (plus any base metals and silver results from recent drilling - takes longer at lab). Note that the next bunch of RC holes also includes a couple of RC holes immediately south of all that drilling around holes 11, 13 and 18 and if these two or one of these RC holes comes up with decent gold grades and thickness (even though the soil geochem looks pretty dead down there) then that might be the time to throw out the soil geochem data and resort to geology and diamond drilling to figure out whats going on.

    InkedScreenHunter 83_LI.jpg


    I was initially pretty interested in this until I had a closer look at the Red Mountain map and drill sections, you can see on the map that the decent mineralization seems to be able to be detected by the +50ppb Au soils samples (red is 50-100ppb Au and purple is >100ppb Au), well that theory held up until now, with the results of holes 23, 24 and 25 all pretty disappointing despite them testing very strong soil anomalies that assumption is looking dubious now, so something strange is going on in the northern end where I have scribbled some black dashed lines on the map, where the company is seeing gold in soil anomalies but drill holes underneath them with long rubbish low grade intervals of <0.5g/t Au. Something strange is going on there with the gold in soil anomaly possibly being transposed or moved (maybe by natural slopes/topography or some other sort of paleo weathering horizon?) or maybe the orientation of the mineralisation has somehow changed so that those holes 23 to 25 drilled towards the west aren't intersecting the gold for some reason (gold either not there or in an orientation that these drill holes can't test). Either way its a bit of a problem that will need explaining.

    I think this is partly the reason why they are looking at getting a diamond core rig in to drill a few sections and get some drill core so they can figure out what is going on with the geology. Not sure how much faith I would place in the IP geophysics helping out but again, once they figure out the geology then they may be able to say if the IP will be useful or not.

    Anyway - its not all Red Mountain here and I have yet to look at Split Rocks in detail.
 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)
Last
3.0¢
Change
0.000(0.00%)
Mkt cap ! $12.35M
Open High Low Value Volume
3.0¢ 3.0¢ 3.0¢ $420 14K

Buyers (Bids)

No. Vol. Price($)
1 86000 3.0¢
 

Sellers (Offers)

Price($) Vol. No.
4.0¢ 30250 1
View Market Depth
Last trade - 10.08am 18/06/2025 (20 minute delay) ?
ZNC (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.