Zenith Minerals progresses preparations for Red Mountain drilling campaign

Zenith Minerals Limited (ASX:ZNC) has announced significant progress in its preparations for a new drilling campaign at the Red Mountain Gold Project in Queensland. The upcoming campaign will focus on testing highly prospective targets identified through a comprehensive re-interpretation of existing drill data, geophysical analysis, and updated 3D geological modelling.

Managing Director, Andrew Smith, comments on Red Mountain drilling campaign

We are thrilled to advance preparations for drilling at Red Mountain, a Project that, we believe, holds substantial potential. Our team has worked diligently to refine the geological model and generate high-priority targets that will guide our exploration efforts. The combination of 3D geological modelling, expanded core sampling, and re-interpreted geophysics gives us confidence in the potential for a significant discovery at Red Mountain. This Project is an essential part of our strategy to unlock considerable value from our gold portfolio while continuing to advance our lithium projects in Western Australia.

Summary of Red Mountain drilling campaign and future outlook

Zenith Minerals (ASX:ZNC) is making significant progress in preparations for a new drilling campaign at the Red Mountain Gold Project in Queensland. The company's focus on testing highly prospective targets identified through a comprehensive re-interpretation of existing drill data, geophysical analysis, and updated 3D geological modelling demonstrates its commitment to unlocking considerable value from its gold portfolio. With preparations well underway, Zenith anticipates that drilling at Red Mountain will commence within the next few years, depending on weather conditions and final permitting. The Project's favourable location in central Queensland benefits from existing infrastructure and proximity to other notable gold projects in the region, providing logistical advantages and cost efficiencies for future operations. Metallurgical test results indicate that a significant portion of the gold at Red Mountain is free-milling and non-refractory, recoverable through standard cyanide leaching without requiring complex or intensive processing. Zenith's broader strategy to transition from an exploration-focused company to a multi-asset gold producer is evident in its preparations for upcoming drilling campaigns while advancing its other core gold projects, including Dulcie Far North in Western Australia. The Company remains committed to advancing its projects and aims to become a significant player in the gold and lithium markets.