Junior exploration company, Zuleika Gold has potentially unveiled a broad gold system at its Breakaway Dam prospect near Kalgoorlie in Western Australia with 21 air-core drill holes intersecting gold including a peak 4 metres at 4.3 grams per tonne gold. A second potential new gold zone may also have been intersected at its Credo Well gold project some 25 kilometres to the west.
Zuleika launched a 30,000m air-core and reverse-circulation drilling campaign earlier this year where it is targeting six prospects along the Zuleika, Kunanalling and Carnage shears located at its tenure.
Several multi-million-ounce gold deposits have been delineated in the vicinity of the company’s acreage, with the Zuleika shear alone boasting more than 20 million ounces of historical gold production.
The world-renowned 80-million-ounce Kalgoorlie super pit lies just 30km northwest from Zuleika’s tenement package.
At the Breakaway Dam prospect, recent drilling was targeting an area identified by Poseidon Nickel in 1989 when 10m at 26.9 g/t gold from 25m was intercepted, including 5m at a bumper 51.3 g/t gold.
The company reports that 21 of 81 recent air-core holes at the prospect returned elevated levels of gold, with the 4m intercept going 4.3 g/t gold forming part of a broader 10m interval grading 2.1 g/t gold from 40m.
Zuleika believes the latest results show potential for multiple gold zones to be present at the prospect. The company plans to test the areas showing anomalous gold with future reverse circulation drilling.
Results from another 20 air-core holes at Breakaway Dam remain pending.
At Credo Well, the company has identified a 2.5-kilometre-long mineralised structure where previous drilling only tested about 1km of the strike.
Encouragingly, Zuleika has already tabled a resource for the project with the company’s first pass drilling in 2020 proving up more than 86,000 tonnes grading a very respectable 4.41 g/t gold.
Zuleika reports the new drilling has now delivered a gold intercept some 300m south-east from the current resource where a 2m interval at 2.9 g/t gold from 32m was returned.
The potential new mineralised zone adds to another recent intercept to the north-west where a solid 7m at 5.22 g/t gold was returned, including a 2m interval at a rich 14.92 g/t gold.
A follow-up reverse circulation campaign to grow the Credo Well resource may now be on the cards.
Zuleika’s tenure lies in one of the premier gold districts of Australia, if not the world. The junior explorer could eke out a golden future for itself if it continues to deliver significant gold hits in the richly endowed region of Western Australia.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
