ASX-listed explorer Zuleika Gold has hit the go button on a 73-hole, 4490m air-core drilling program across a trio of target areas within its larger Zuleika and Credo projects near Kalgoorlie in Western Australia.
The company is chasing gold across a raft of structural targets and says the probe could be completed by November with results due by the end of the year.
As part of its plan, Zuleika will plunge nine holes for 650m at its East Credo prospect, part of the larger Credo gold project about 35km north west of Kalgoorlie and 5km to the east of the Paddington Gold Mine.
The work at East Credo follows the delivery of a suite of anomalous gold intercepts struck in a previously completed air-core program, south east of Credo’s known resource. Some of the better results from the August program include a 4m hit at .05 grams per tonne gold from surface.
Despite the modest return the company believes the grades are fettered by a blanket of cover material that extends across the East Credo target area.
The new air-core exploration are aimed at infilling ground between the previous program and chasing up deeper-lying gold that could exist beneath the blanket of transported cover.
The explorer previously defined a mineral resource of 12,250 ounces of gold at a grade of 4.41 grams per tonne at the Credo project.
Zuleika will also use the probe to test a highly prospective structural target known as “Carnage North” at its namesake project about 25km from Kalgoorlie.
Activity at Carnage North will include nine air-core holes for 1260m and will be used to examine a land package close to ASX-listed Carnavale Resources’ tenure.
The company argues recent exploration by Carnavale has turned up ore-grade intersections and a geological package consistent with the 2.5 million ounce Invincible Mine about 60km away in Kambalada.
The Perth-based explorer has earmarked a program of 43-holes for 2580m at its Paradigm North target about 10km west of Carnage North. Drilling at Paradigm North follows magnetic interpretation and previous work at the nearby Paradigm East discovery.
About a year ago, Zuleika tabled a suite of high-grade intercepts at Paradigm East, including 10 metres at 2.53 grams per tonne gold from 51m and 4m at 4.93 g/t from 72m down-hole and believes its Northern equivalent could offer similar returns.
Zuleika Gold Managing Director, Jonathan Lea said:“The transported cover over much of our Kalgoorlie tenure means previous exploration has been largely ineffective and targeted drill testing, such as this, is the optimal method to define new mineralisation. We keenly anticipate the results in the coming months.”
The company’s flagship Zuleika gold project takes in roughly 230 square kilometres in the renowned Zuleika Shear – a geological structure that has delivered over 20 million ounces of gold over the last thirty years.
Two of Zuleika’s other assets, Credo and Menzies, offer similar ground positions.
The explorer sent tongues wagging in January this year when uber-successful mining magnate Mark Creasy rolled $3m into the company at a 50 per cent premium of the company’s share price.
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By Matt Birney
