Zenith Minerals Hits Gold in All 14 Dulcie Central Holes, Peaking at 7.75g/t
Key Takeaways
- All 14 Dulcie Central holes assayed to date have intersected gold, including all eight new holes (SRRC182 to SRRC189).
- SRRC182 delivered the programme's best result: 6 m @ 4.14 g/t Au from 123 m, including 3 m @ 7.75 g/t Au.
- The drilling tests a roughly 600 m strike gap between the Dulcie North and Dulcie deposits, and Zenith says results support mineralisation through the corridor.
- Assays for the final 10 holes (SRRC190 to SRRC199) are due in late October, followed by a decision on a maiden Mineral Resource for M77/599.
- M77/599 has no resource yet, and the existing 675koz Dulcie resource at 1.0 g/t Au is JORC Inferred, the lowest confidence category.
Gold intersected in all eight new Dulcie Central holes
Zenith Minerals has received assays for 24 of 34 holes from its recently completed RC drilling programme, and all eight further Dulcie Central holes (SRRC182 to SRRC189) intersected gold. The best gold drilling result was 6 m @ 4.14 g/t Au from 123 m in SRRC182, including 3 m @ 7.75 g/t Au from 125 m.
All 14 Dulcie Central holes assayed to date have returned gold intercepts. The programme, which drilled 34 RC holes for a total of 4,601 m, was completed on 16 September 2026.
Andrew Smith, Managing Director
“Every Dulcie Central hole assayed so far has intersected gold, with SRRC182 returning the strongest intersection of the programme to date…”
That matters because consistency is what separates a scattered hit from a pattern. A run of holes all returning gold is the kind of evidence explorers need before they can talk about a larger, connected system.
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Do the Dulcie Central results support the corridor thesis?
The drilling tests the approximately 600 m strike gap between the Dulcie North and Dulcie deposits. Zenith says the results provide further evidence of gold mineralisation extending through that corridor.
Best intercepts across M77/599
The table below shows selected significant intercepts from SRRC182, SRRC184, SRRC186 and SRRC189, taken from Table 1 of the announcement.
| Hole | From (m) | Interval (m) | Au (g/t) | Notable inclusion |
|---|---|---|---|---|
| SRRC182 | 123 | 6 | **4.14** | 3 m @ 7.75 g/t Au from 125 m |
| SRRC184 | 48 | 10 | **0.84** | 1 m @ 1.52 g/t Au from 48 m |
| SRRC186 | 45 | 3 | **1.59** | 1 m @ 4.05 g/t Au from 46 m |
| SRRC189 | 97 | 2 | **1.57** | 1 m @ 2.75 g/t Au from 97 m |
SRRC186 also returned 2 m @ 1.24 g/t Au from 56 m, while SRRC189 returned 3 m @ 1.14 g/t Au from 134 m. Each of the eight holes returned multiple mineralised zones.
Why the strike gap matters
Strike is the direction a mineralised zone runs across the ground. Drilling the gap between two known deposits shows whether they are separate pockets or part of one continuous system. The drilling continued to intersect the mafic, ultramafic and banded iron formation host sequence seen in earlier holes.
If gold and grade prove continuous across the gap, that could help connect the deposits and support a resource. That is not yet established.
The picture is also mixed. Beyond the headline results, other intercepts are generally narrower, with grades of up to 3.34 g/t Au (1 m from 94 m in SRRC183).
Do Scott’s Grey and Dulcie South add higher-grade upside?
At Scott’s Grey (M77/1246), SRRC200 to SRRC202 were drilled to test high-grade extensions to the Inferred Mineral Resource down dip and along strike. SRRC201 and SRRC200 both returned intercepts above 2 g/t Au, while SRRC202 returned two narrow low-grade intercepts.
At Dulcie South (M77/1250), all five holes have now been reported. SRRC206 returned several low-grade intercepts, the best being 2 m @ 0.90 g/t Au from 20 m.
The best intercepts from the two areas were:
- 4 m @ 3.05 g/t Au from 71 m in SRRC201 (including 1 m @ 7.17 g/t Au from 74 m)
- 2 m @ 2.40 g/t Au from 142 m in SRRC200
- 1 m @ 3.86 g/t Au from 128 m in SRRC205 (Dulcie South), alongside 3 m @ 0.93 g/t Au from 122 m in SRRC204
Zenith says both areas will be assessed as part of the review of the Dulcie Mineral Resource.
What is a maiden Mineral Resource estimate?
An exploration result describes what a drill hole found at one spot. A Mineral Resource estimate goes further. Under the JORC Code (the Australian standard for reporting mineral estimates), it is a formal calculation of how much mineralised material exists, and at what grade, based on enough drilling to show the geology and grade are continuous.
“Maiden” simply means the first estimate for an area. Zenith’s existing Consolidated Dulcie Gold Project resource is 21.3Mt @ 1.0 g/t Au for 675koz JORC Inferred, across a consolidated approximately 6 km corridor. Inferred is the lowest confidence category.
M77/599 does not currently have a resource. The announcement says Zenith will determine whether the drilling supports one, so an estimate is not guaranteed.
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What happens next, and what should you watch?
The announcement sets out three next steps:
- Assays are pending for 10 holes (SRRC190 to SRRC199), all at Dulcie Central, and are expected in late October.
- Zenith will then determine whether sufficient geological and grade continuity has been established to support a maiden Mineral Resource estimate for M77/599.
- The existing Dulcie Mineral Resource will be reviewed to assess whether the Scott’s Grey and Dulcie South results warrant an updated estimate.
For investors, this means near-term news flow, with the final results and the resource decision as the next tests of the corridor thesis.
Intercepts are calculated using a 0.3 g/t Au lower cut-off with no top cut applied, and all are down-hole widths. True widths are not yet determined. The announcement does not disclose cash, share price or valuation data.
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