Zenith Minerals Confirms District-Scale Gold Potential at Consolidated Dulcie

Drilling Confirms Scale and Continuity

Zenith Minerals Limited (ASX, ZNC) has announced the completion of a comprehensive 12,621-metre reverse circulation (RC) drilling program across its Consolidated Dulcie Gold Project in Western Australia’s Southern Cross region. The results reinforce the project’s status as a district-scale gold system, with broad zones of mineralisation and notable high-grade intervals, underpinning the company’s July 2025 Exploration Target of 10–24 million tonnes at 0.9–1.1 grams per tonne gold, equating to 0.3–0.8 million ounces.

Key assay highlights include intercepts such as 11 metres at 3.53 g/t gold including 6 metres at 6.21 g/t, and 3 metres at 7.40 g/t gold, confirming both the scale and grade continuity across the project corridor. These results build on previously reported high-grade intersections, including a standout 3 metres at 22.67 g/t gold, demonstrating the presence of localised high-grade zones within the broader mineralised system.

Towards a Maiden JORC Resource and Feasibility

With all assays received, Zenith is progressing final quality assurance and geological modelling ahead of a maiden JORC-compliant Mineral Resource Estimate (MRE), targeted for release in late February 2026. This MRE will integrate the complete Zenith dataset with verified historical drilling, providing a robust foundation for resource delineation.

Simultaneously, the company has initiated a feasibility study aimed at fast-tracking development options. This includes evaluating staged open-pit mining and low-capital expenditure processing pathways, leveraging the project’s granted mining leases and excellent regional infrastructure such as roads, power, water, and proximity to multiple processing facilities. The study also considers potential ore sale or toll-treatment arrangements to optimise capital efficiency.

Strategic Positioning and Next Steps

Zenith’s Consolidated Dulcie Gold Project benefits from contiguous granted mining leases covering approximately six kilometres of strike, consolidating ownership of the Dulcie shear zone. The company holds strategic call options to further consolidate subsurface rights, enhancing control and flexibility over the project’s development.

Further drilling is planned to commence in mid-March 2026, including additional RC drilling followed by diamond drilling. These programs will generate critical structural, geotechnical, density, and metallurgical data to support detailed mine design, scheduling, and feasibility evaluation.

Financially, Zenith is well positioned following a recent $7.6 million capital raising, ensuring sufficient funding to complete the maiden resource estimate, upcoming drilling, and feasibility studies. The project’s location within an active gold belt and existing mining activity further de-risks the pathway to production.

Geological Context and Growth Potential

The Consolidated Dulcie corridor lies within the Southern Cross–Forrestania Greenstone Belt, a prolific gold province. The mineralisation is structurally controlled within a broad shear zone, with multiple stacked lodes exhibiting consistent geometry and grade continuity. Recent drilling has extended mineralisation beyond previously defined zones, highlighting upside potential beyond the current Exploration Target.

Zenith’s Managing Director Andrew Smith emphasised the project’s rapid advancement and growth potential, noting the strong continuity and scale confirmed by the drilling results. He highlighted the company’s focus on delivering a maiden resource and accelerating development through low-capex options supported by the project’s infrastructure and granted tenure.