Zenith Minerals (ASX:ZNC) said that the assays from its 12,621-meter, 77-hole reverse circulation drilling program at the Consolidated Dulcie gold project in Western Australia reinforce the project as a district-scale gold system, according to a Wednesday Australian bourse filing.
The drilling encountered intercepts of 11 meters at 3.5 grams per tonne (g/t) grade of gold from 66 meters, as well as 3 meters at 7.4 g/t grade of gold from 71 meters.
The company started a feasibility study to evaluate expedited development pathways and it plans to conduct further reverse circulation drilling at the project in March, the filing said. A maiden mineral resource estimate for the broader project corridor is targeted for delivery in late February.
Zenith Minerals' shares rose past 2% in recent trading on Wednesday.