Zuleika Gold (ASX: ZAG) shows promising results from Credo Well

Zuleika Gold will explore identified shallow gold and “highly encouraging” anomalies justifying further interrogation following exploration across its portfolio of prospects in the world-famous Kalgoorlie-Menzies goldfields.

RC drilling – across its Credo Well, Paradigm East, Browns Dam and Breakaway Dam prospects – revealed the promising new shallow drilling target at Credo Well South with encouraging anomalism displayed at other projects.

Meanwhile, geochemical soil sampling at Zuleika North and Grants Patch West returned elevated gold levels justifying further work.

“The results from the recent exploration activities are highly encouraging, and the team continues to systematically test existing prospects while generating the targets for future drill testing,” Managing Director Jonathan Lea said.

“Zuleika Gold will continue actively exploring its current tenure as well as identifying new targets and projects that offer the potential for a significant discovery.”

Following heritage clearance over a number of areas within the Zuleika Project, the next phase of air core drilling is planned to commence in October.

The Company’s ASX shares have opened at 1.9c.

About Zuleika Gold

The company’s focus is its exploration projects located in the world-famous Kalgoorlie-Menzies goldfields, with its flagship project being Zuleika Gold Project. The Zuleika Project comprises 230sqkm of tenements situated in the prolific Zuleika Shear, producing more than 20 million ounces of gold over the last 30 years. Several mines operated by industry majors remain in production.

 The Zuleika Project, together with Credo, Goongarrie and Menzies, form the company’s “Kalgoorlie portfolio”. 

 Zuleika Gold completed a successful 2020 exploration season and, following a $ 6 million capital raising in December 2020, is well placed to follow up in 2021 on the first-tier targets generated at its “Kalgoorlie portfolio” in 2020, to expand and identify gold resources. 

An aggressive and transformational exploration will also be undertaken on second-tier targets to identify new areas within the tenement portfolio for potential commercial concentrations of gold.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.