The Red Mountain project in southern central Queensland is firming up for Zenith Minerals, with recent sampling helping define a ‘robust, high-order gold drill target’.
It comes after the company last week announced it had raised more than $1.5 million from the sale of new shares to be used for its exploration activities at Red Mountain and elsewhere.
The Red Mountain gold-silver project is located within about 100km of operating gold mines at Cracow and Mount Rawdon.
Zenith says new infill surface sampling extends and refines the gold target at Red Mountain.
The new high-grade soil results of up to 1300ppb gold (1.3 g/t Au) supported previous results, it said.
Drill planning is in progress to test the gold target.