Strata Minerals Expands Zelica Gold Project with $1.1M Raise and Drilling Kickoff

Strategic Acquisition Strengthens Gold Portfolio

Strata Minerals Limited (ASX, SMX) has taken a decisive step forward in its gold exploration ambitions by exercising its option to acquire 100% of the Zelica Gold Project, located in Western Australia's prolific Eastern Goldfields region. This acquisition consolidates Strata’s position in an area known for significant gold deposits, situated between Leonora and Laverton and within close proximity to multiple million-ounce gold mines.

The Zelica Project boasts a granted mining licence and historical infrastructure, including a pre-stripped open pit and partially constructed processing facilities, which could facilitate near-term development. Notably, the project features high-grade shallow oxide gold mineralisation along an approximately 1-kilometre strike length, with historical intercepts such as 9 metres at 8.8 grams per tonne gold, yet it has seen no drilling activity for over a decade.

Maiden Drilling Program Commences

In late November 2025, Strata commenced its maiden reverse circulation (RC) drilling program at Zelica, targeting validation and expansion of these historical high-grade zones. The program comprises around 20 holes totaling approximately 2,000 metres. The first assay results are eagerly anticipated in early Q1 2026 and will be critical in confirming the project's potential and guiding subsequent exploration phases.

Significant Expansion with Zelica South Acquisition

Further bolstering its exploration footprint, Strata acquired the adjoining Zelica South Project, expanding the total strike potential from about 1 kilometre to roughly 8 kilometres. This acquisition adds over 6 kilometres of prospective gold mineralised corridor, with historical surface rock chip samples returning impressive grades up to 39.6 grams per tonne gold. The area remains underexplored, and initial activities including data review, mapping, and sampling are underway, with drilling planned pending regulatory approvals.

Capital Raise Supports Exploration Momentum

To fund these ambitious exploration activities, Strata successfully raised $1.1 million (net of costs) through an equity placement priced at $0.02 per share. The capital injection is earmarked for ongoing drilling programs at Zelica and Zelica South, as well as broader portfolio advancement. The company ended the quarter with a healthy cash position of $1.4 million and no debt, providing a solid financial foundation for its exploration strategy.

Penny South Project Shows Geological Promise

Meanwhile, assay results from a September 2025 diamond drilling program at the Penny South Gold Project confirmed geological continuity with the adjacent high-grade Penny Mine system operated by Ramelius Resources. Although significant gold mineralisation was not detected in this round, the structural and stratigraphic data reinforce the prospectivity of the area, encouraging further exploration efforts along this highly prospective corridor.

Strata Minerals is clearly positioning itself to capitalise on Western Australia’s rich gold endowment, leveraging strategic acquisitions, targeted drilling, and prudent capital management to unlock value across its portfolio.