The market has piled into Zenith Minerals this morning after the company reported a jaw-dropping discovery hole at its Red Mountain gold project in Queensland.

It intercepted a massive 140 metres chock-full of high-grade gold, sending its share price skyward by as much as 150 per cent in early morning trading.

Zenith Minerals managing director Andrew Smith has led the company to a major gold discovery at its Red Mountain project in Queensland.

The project is now pushing its case as a potential major intrusion-related gold system (IRGS). The 139.7m intercept is running at a very mineable 1.05 grams per tonne (g/t) gold from 215m, including high grade zones of 14.2m grading 4.62g/t and 9.45m at 5.29g/t gold.

Assays remain pending for the back half of the hole, with deeper drilling underw

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