Zeus Resources has reported robust antimony mineralisation at its Casablanca Project in Morocco, with trench assays revealing up to 22.69% Sb over 2 metres. Licence renewals are underway as the company prepares for expanded trenching and drilling.
- High-grade antimony assays up to 22.69% Sb over 2m
- Trenching confirms mineralisation continuity along Smaala-Oulmès Fault Zone
- Moroccan licence renewal applications submitted and progressing
- A$1.5 million cash on hand with no debt
- Interest-free director loan secured to bridge funding gap
High-Grade Antimony Mineralisation Confirmed at Casablanca
Zeus Resources Ltd (ASX:ZEU) has delivered compelling early trenching results at its Casablanca Antimony Project in Morocco, underpinning the project's potential scale and grade. Channel sampling from Trench 1 exposed a quartz-stibnite vein system with assays peaking at 37.14% antimony (Sb), averaging 22.69% Sb over 2 metres. A step-out trench 185 metres along strike (Trench 1A) returned 3 metres at 4.04% Sb, confirming lateral continuity of mineralisation along the key Smaala-Oulmès Fault Zone.
The results reinforce the significance of the structural corridor controlling mineralisation across the 78.6 square kilometre licence area, supporting Zeus’s strategy to systematically advance trenching and prepare for targeted drilling. These findings build on earlier visible antimony oxide observations and high-grade rock chip samples reported last year, highlighting the project's robust quartz-stibnite system.
Trenching at Casablanca is part of a broader exploration push that has seen the company receive Forestry Department approval for trenches 2 to 8, with these remaining trenches awaiting final permits before mobilisation. The company plans to complete up to nine trenches across the licences to refine geological models and define drill targets, following a phased approach to delineate mineralised zones.
Licence Renewals and Project Advancement
Zeus has submitted applications for a four-year renewal of its Moroccan research permits, which expired in March 2026. The renewal process is advancing in line with the Moroccan Mining Code, supported by the positive exploration outcomes to date. Securing these licences is critical to maintain exploration momentum and enable the planned trenching and drilling programs.
Morocco’s mining-friendly regulatory environment and strategic location continue to underpin the project's appeal. The company’s focus on antimony taps into a critical mineral classified as strategic by major economies due to its role in flame retardants, batteries, and semiconductors.
Financial Position and Corporate Updates
On the financial front, Zeus closed the quarter with a cash balance of A$1.505 million and no debt. Operational outflows included A$124,583 in exploration expenditure and payments of A$71,944 to related parties covering directors and support services. To bridge a short-term funding gap between term deposit maturity and operational costs, the company secured an interest-free loan of up to $400,000 from director Hugh Pilgrim, with $100,000 drawn as at quarter end.
While no fieldwork occurred at the Kalabity Project in South Australia during the quarter, the company is progressing heritage arrangements to support future exploration on its uranium, base metals, and rare earth targets.
These developments follow the company’s earlier milestones, including the lifting of its trading suspension after initial trenching updates and the Forestry Department’s approval for expanded trenching, which collectively set the stage for the current phase of exploration at Casablanca. The ongoing trenching program and licence renewals are key catalysts to watch as Zeus seeks to convert high-grade surface mineralisation into a defined resource.
Bottom Line?
Zeus Resources’ high-grade trench results at Casablanca provide a solid foundation, but licence renewals and successful expansion of trenching will be crucial for advancing towards drilling and resource definition.
Questions in the middle?
- Will licence renewals be granted in a timely manner to avoid project delays?
- How will trenching results from the remaining trenches influence drill targeting?
- What are Zeus’s plans for funding exploration beyond the current cash position?