Zeus Resources has completed the acquisition of the Casablanca Antimony Project in Morocco, confirming exceptional antimony grades, while divesting its Mortimer Hills lithium project with a structured royalty deal.
- Acquisition of Casablanca Antimony Project with assays up to 46.52% Sb
- Sale of Mortimer Hills lithium project to Delta Lithium subsidiary for $150,000 upfront plus royalties
- Shareholders approved acquisition and securities issuance in May 2025
- Strong cash position of A$2.324 million with no debt at quarter-end
- Wiluna Project exited to focus on critical mineral assets
Strategic Acquisition in Morocco
Zeus Resources Ltd (ASX, ZEU) has marked a significant milestone by completing the acquisition of the Casablanca Antimony Project in central Morocco. This portfolio of six exploration licences covers a stibnite-bearing quartz vein system extending over 4 kilometres, with rock chip samples revealing antimony grades ranging from 7.8% to an impressive 46.52% Sb. The acquisition follows thorough due diligence and regulatory approvals, underscoring Zeus’s commitment to expanding its footprint in critical minerals.
Advancing Exploration and Permitting
With the acquisition finalized in July 2025, Zeus has engaged local partner Ashgill Morocco to support on-the-ground operations and is progressing the permitting process. Plans are underway for a geophysical survey to identify structural targets, followed by trenching once approvals are secured. The project benefits from Morocco’s mining-friendly regulatory environment and strategic location, positioning Zeus well to capitalize on the growing demand for antimony, a critical mineral essential for flame retardants, batteries, and semiconductors.
Divestment of Mortimer Hills Lithium Project
In a complementary move, Zeus has sold its 100% interest in the Mortimer Hills lithium project in Western Australia’s Gascoyne region to a subsidiary of Delta Lithium Limited. The deal includes an upfront payment of $150,000 and a structured royalty agreement tied to future lithium resource delineation. This arrangement allows Zeus to preserve capital and maintain exposure to potential upside without bearing exploration costs, reflecting a strategic focus on critical minerals with high growth potential.
Portfolio Rationalization and Financial Position
Zeus also withdrew from the Wiluna Project following regulatory setbacks, choosing to concentrate resources on priority assets like Casablanca. The company ended the quarter with a robust cash balance of A$2.324 million and no debt, providing a solid foundation for upcoming exploration activities. Shareholders have shown strong support for the company’s strategic direction, approving the acquisition and related securities issuance earlier in May 2025.
Outlook
As Zeus advances exploration and permitting at Casablanca, the market will be watching closely for drilling results and resource updates that could validate the project’s high-grade potential. Meanwhile, the royalty structure on Mortimer Hills offers a potential future revenue stream without capital expenditure, balancing risk and reward. Zeus’s focused approach on critical minerals in geopolitically stable jurisdictions aligns with global supply chain security trends, positioning the company for growth in a competitive sector.
Bottom Line?
Zeus Resources is poised at a pivotal juncture, with high-grade antimony exploration underway and a royalty-backed lithium asset sale enhancing financial flexibility.
Questions in the middle?
- How quickly will Zeus advance drilling and resource definition at Casablanca?
- What are the timelines and likelihood for royalty payments from Mortimer Hills?
- Will Zeus pursue further acquisitions or partnerships to expand its critical minerals portfolio?