The Red Mountain project in central Queensland was applied for following a review of previous exploration activity in the area which reported highly anomalous cobalt and manganese in surface samples.
Based on the initial site visit and preliminary evidence, the geological setting and geochemical association at Red Mountain is indicative of a gold-silver “carbonate-base metal gold epithermal” system. The Red Mountain project is close to the low sulphidation epithermal gold deposit at Cracow – owned by Evolution Mining and porphyry deposits such as the Whitewash Deposit porphyry copper-molybdenum deposit owned by Aeon Metals Limited.
As announced to ASX on 25 July 2017, mapping in an area dominated by soil with minor sporadic rock outcrop identified discrete 2 to 3 metre wide manganese and iron rich fracture vein stockwork zones hosted in rhyolite and granodiorite with minor quartz. Rock chip sampling from these zones returned highly encouraging silver and gold rock chip sample results up to 114g/t silver and 0.69 g/t gold in association with anomalous copper, lead, zinc, barium, cobalt (up to 0.1%), antimony and bismuth.
Soil samples taken by Zenith confirmed an area of anomalous silver soil geochemistry which now outlines an open-ended, high-grade (>100 ppb) silver anomaly with individual soil results up to 1 g/t silver that provides target scale and an immediate follow-up opportunity. The Zenith team is highly encouraged by the initial discovery of gold and silver at Red Mountain. Follow-up mapping and sampling to define the extents of the gold-silver mineralisation is planned along with trenching to test the true thickness of the poorly exposed gold-silver zones and to track mineralisation where it extends beneath shallow soil cover to the southwest.