Zuleika Gold (ASX:ZAG) strike long oddity at highly prospective Zuleika North
January 30, 2023Zuleika Gold drilling has confirmed a massive 3 kilometre gold anomaly at its Zuleika North prospect, part of exploration including soil sampling across its portfolio of projects in Western Australia’s Kalgoorlie region.
Zuleika is seeking approval for to test drill the compelling anomaly laying in ideal hosting rocks in along the high-grade, gold-bearing Zuleika Shear Zone.
Meanwhile the Company’s Grant’s Patch prospect has returned “significant” geochemical soil sampling results at the Goongarrie and Menzies East tenements.
Results from aircore drill testing programs at East Credo, Carnage Northand Paradigm North targets have also been received.
Zuleika Gold’s tenements and Prospects in Kalgoorlie Region
Zulieka says the “very encouraging” geochemistry results (from the Zuleika North Prospect) provide near-term drill targets and validate the Company’s exploration methodology.
“Given our large and highly prospective tenement package in the Kalgoorlie region, the Company continually assesses and reprioritises its activities, ensuring a systematic evaluation of project areas in the most cost-effective manner,” Managing Director Jonathan Lea said.
Next Steps
Soil geochemical sampling, aimed at defining new drill targets, continues over the Goongarrie and Menzies East tenements.
With heritage clearance in place for over half of the 3km gold anomaly at Zuleika North, drilling is planned once final approvals are obtained. Initial drilling is anticipated to commence in March.
Price Action
The Company’s ASX-listed shares have risen 11.11 per cent to 2c in early trade
About Zuleika North
Approximately 1,100 soil samples were collected at the Company’s Zuleika North Project. Samples were recovered on both 160m-by-160m and 80m-by-80m staggered grids (nominally weighing 250 grams) and collected manually from a depth of about 10-20cm below the surface. Previously in June 2022 (in the first stage of the geochemical soil sampling program), 434 samples were collected in the north of the project (ZAG ASX Ann. 28.09.22).
Fundamental Data
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