Zenith Minerals has reported a significant milestone with a maiden 675,000-ounce JORC Inferred Mineral Resource at its Consolidated Dulcie Gold Project, alongside deep drilling success at Red Mountain that extends mineralisation beyond 700 metres.
- 675koz maiden JORC resource at Consolidated Dulcie
- Acquisition of key tenure unlocks central Dulcie corridor
- Red Mountain drilling confirms >700m vertical mineralisation
- $5.5 million cash supports focused gold development
- Board transition underway with new technical leadership
Maiden 675,000 Ounce Resource Establishes Dulcie as Development Asset
Zenith Minerals (ASX:ZNC) has crossed a pivotal threshold, defining a maiden JORC (2012) Inferred Mineral Resource of 675,000 ounces of gold at its Consolidated Dulcie Gold Project in Western Australia. The 21.3 million tonnes at 1.0 g/t Au resource more than doubles the previous Dulcie Far North estimate and confirms a continuous ~6-kilometre mineralised corridor on granted Mining Leases. This scale and continuity underpin Dulcie’s transition from exploration to a development-focused asset.
Zenith’s largest drilling campaign to date, comprising 12,621 metres of reverse circulation drilling, validated a district-scale gold system characterised by stacked, shallow-dipping lodes with strong strike and depth continuity. Notable intercepts included 11 metres at 3.53 g/t Au, with a standout 3 metres at 22.67 g/t Au, highlighting high-grade zones within the broader mineralised envelope.
Importantly, the company strengthened its position with the acquisition of tenure M77/599, consolidating a critical ~600-metre untested strike between Dulcie North and Dulcie deposits. This strategic parcel represents one of the last untested segments of the Dulcie Shear Zone and is poised for a ~35-hole RC drilling program aimed at linking deposits and materially expanding the resource base. Supporting preparatory work such as flora and fauna surveys is complete, with drilling expected to commence shortly. This acquisition unlocks a central growth corridor that could reshape the project’s resource profile.
The Consolidated Dulcie Project benefits from granted Mining Leases, near-surface mineralisation amenable to open-pit methods, and proximity to infrastructure including the Marvel Loch and Edna May processing plants. These factors collectively support low-capex development options and a potentially rapid pathway to production.
This resource milestone and tenure consolidation come on the heels of a focused drilling and evaluation campaign, positioning Dulcie as a scalable gold development opportunity within one of Western Australia’s most productive gold provinces.
Zenith has already commenced the next phase of work at Dulcie, targeting resource growth, infill drilling, and development studies, aiming to build on the 675koz foundation and unlock further value.
Red Mountain Drilling Extends Deep Mineralisation and Targets Higher Grades
In Queensland, Zenith’s Red Mountain Gold Project continues to demonstrate its potential as a large-scale intrusion-related gold system. Deep diamond drilling during the quarter extended mineralisation beyond 700 metres vertical depth, confirming a vertically continuous hydrothermal system that remains open at depth and along strike.
Two diamond tails, ZRMCD067 and ZRMCD073, reached depths of 731.3 m and 758.1 m respectively, intersecting broad zones of mineralisation including higher-grade intervals such as 2 metres at 6.55 g/t Au. Geological modelling and geochemical vectoring have identified a higher-priority intrusion-proximal corridor, largely untested to date, which will be the focus of upcoming drilling programs.
The project’s metal zonation pattern, with distal Zn–Cd–Pb signatures and intrusion-proximal Cu–Bi–Te associations, provides a clear targeting framework for higher-grade zones. This integrated approach builds on previous strong intercepts and supports a robust pipeline for resource growth.
Zenith is preparing for a significant reverse circulation drilling campaign at Red Mountain to test these targets, following the successful deep drilling results reported in April 2026. This drilling complements ongoing geological and geochemical work aimed at unlocking the project’s full potential.
Corporate Discipline and Board Transition Support Growth Strategy
Zenith ended the quarter with a disciplined cash position of A$5.54 million, maintaining financial flexibility to advance its core gold assets. Expenditure was prioritised towards resource definition and development studies at Dulcie and targeted exploration at Red Mountain, while non-core assets were held at low cost.
The company is navigating a board transition, with Non-Executive Director Andrew Grove stepping down and a search underway for an independent Chairman and/or additional directors with expertise in gold project development and capital markets. This governance renewal aligns with Zenith’s progression toward development and value realisation.
Additionally, Zenith streamlined its share register through an unmarketable parcel share buy-back facility and issued shares linked to subsurface rights agreements, reflecting active capital structure optimisation.
Exploration Upside Beyond Core Projects and Strategic Lithium Exposure
Beyond its flagship gold projects, Zenith is advancing exploration across a substantial ~360 km² landholding in the Dulcie district, with multiple parallel shear zones identified that remain underexplored. The company is re-assaying historical lithium drilling samples for gold to generate new targets, offering a cost-effective avenue for discovery.
Zenith’s lithium projects, including the Rio Lithium Project in the Forrestania Greenstone Belt and the Waratah Well Project in the Murchison Region, provide strategic exposure to battery minerals. While exploration activity is currently subdued pending market conditions, these assets offer optionality for future growth aligned with global energy trends.
Meanwhile, Zenith holds a 25% free-carried interest in the Earaheedy Zinc Joint Venture with Rumble Resources, gaining leveraged exposure to a significant zinc-lead-silver resource advancing toward feasibility studies.
At the Auburn Gold Project in Queensland, recent rock chip sampling returned encouraging results, confirming a mineralised system and supporting further target generation within this underexplored area, complementing the company’s broader portfolio.
Technical Leadership and Ongoing Resource Growth Efforts
To support its exploration and development ambitions, Zenith appointed James Major as Exploration Manager, bringing over eight years’ experience in gold and base-metal systems. His expertise is expected to accelerate resource definition at Dulcie and exploration at Red Mountain.
The company’s focus on resource growth is evident in its ongoing drilling programs, including the recently commenced eight-hole RC campaign at Dulcie targeting near-resource zones and strategic gaps along the mineralised corridor. These efforts build directly on the recent 675,000-ounce inferred gold resource milestone and aim to enhance grade and continuity.
Similarly, the deep diamond drilling results at Red Mountain, which extended mineralisation beyond 700 metres, set the stage for a planned RC program to test lateral extensions and geophysical targets, guided by refined 3D geochemical models and vectoring techniques, as detailed in the company’s deep diamond drilling results.
Bottom Line?
Zenith Minerals has laid a solid foundation with a substantial maiden gold resource and deep drilling success, but the next quarters will test its ability to convert exploration momentum into development progress and resource growth.
Questions in the middle?
- Will the planned drilling at M77/599 confirm continuity and significantly expand the Dulcie resource?
- Can Red Mountain’s intrusion-proximal targets deliver higher-grade zones to underpin economic viability?
- How will the board transition and capital management influence Zenith’s development trajectory?