Zenith’s Dulcie Gold Resource Hits 302,000 Ounces with New Drilling Success

Strategic Growth at Dulcie Far North

Zenith Minerals Limited has delivered a strategically significant quarter, marked by a substantial 41% increase in the gold mineral resource at its Dulcie Far North (DFN) project in Western Australia. The updated resource now stands at 8.2 million tonnes grading 1.15 grams per tonne gold, equating to 302,000 ounces. This uplift follows a rigorous 37-hole reverse circulation drilling campaign that not only extended known lodes but also validated new geological models, underscoring the project's robust growth potential.

Key drill intercepts included notable grades such as 6 meters at 2.76 g/t gold and 9 meters at 1.46 g/t gold, with higher-grade zones within these intervals. These results have significantly enhanced geological confidence and economic prospects, positioning Dulcie Far North as a cornerstone asset in Zenith’s portfolio.

Expanding the Footprint and Financial Position

Complementing the resource growth, Zenith secured exclusive subsurface rights for an additional 3 kilometers of strike immediately south of the existing Dulcie Far North project. This acquisition consolidates an extensive contiguous exploration corridor on granted mining licenses, streamlining future permitting and development activities. The deal includes milestone payments and a 2% net smelter return royalty, aligning vendor interests with project success.

Financially, Zenith strengthened its position through a fully underwritten A$3.5 million entitlement offer completed after the quarter. This capital injection is earmarked to accelerate exploration and drilling at Dulcie and the Red Mountain Gold Project in Queensland, where a government grant of A$275,000 supports upcoming deep diamond drilling targeting gold and copper-molybdenum mineralisation.

Portfolio Optimization and Strategic Divestments

In a move to sharpen its focus on Australian gold assets, Zenith executed a binding agreement to divest its 20% interest in the Kavaklitepe Gold Project in Türkiye for US$543,000. Regulatory approvals have been secured post-quarter, with settlement anticipated in the September quarter. This divestment aligns with Zenith’s strategy to concentrate resources on high-potential domestic projects.

Meanwhile, exploration continues at other key projects including the Cowarra Gold Project in New South Wales, held indirectly through a 26% stake in Oxley Resources, and the lithium-focused Split Rocks and Waratah Well projects in Western Australia. These lithium assets complement Zenith’s dual-commodity approach, balancing near-term gold growth with long-term exposure to battery minerals.

Looking Ahead

Zenith is preparing for an extensive follow-up drilling campaign at Dulcie, targeting between 9,000 and 12,000 meters of reverse circulation drilling to further expand resources and validate exploration targets. At Red Mountain, the upcoming diamond drilling program aims to test for intrusion-related gold and copper porphyry systems, potentially unlocking a new tier of mineralisation.

With a cash position of A$0.58 million and investments valued at approximately A$0.95 million, Zenith maintains a robust financial footing to support its aggressive exploration agenda. The company’s strategic initiatives and disciplined capital management underscore its commitment to delivering shareholder value through resource growth and project advancement.