Zenith Secures Key Tenure to Unlock Central Dulcie Gold Corridor

Strategic Acquisition Completes Dulcie Corridor Control

Zenith Minerals (ASX:ZNC) has taken a decisive step by completing the acquisition and registration of Mining Lease M77/599, a key tenure parcel within its Consolidated Dulcie Gold Project in Western Australia. This acquisition consolidates Zenith's control over the entire ~6-kilometre Dulcie mineralised corridor for the first time, a move the company describes as a strategic milestone in its project development.

The newly acquired lease secures an approximately 600-metre untested strike segment positioned centrally between the Dulcie North deposit, which hosts around 75,000 ounces of gold over a 500-metre strike, and the larger Dulcie deposit with about 300,000 ounces over 3,000 metres. This corridor has long been seen as a critical link with potential to connect and expand the existing mineralisation.

Zenith’s Managing Director Andrew Smith emphasised the importance of this tenure, noting that it "has the potential to materially enhance the scale and continuity of the Consolidated Dulcie Gold Project and provides a highly compelling near-term drilling opportunity." This acquisition aligns with Zenith's broader strategy of growing high-quality resource assets within established Australian mining jurisdictions.

Upcoming Drilling Program Targets Resource Growth

With tenure in hand, Zenith is progressing preparations for a ~35-hole reverse circulation (RC) drilling program, targeting approximately 5,000 metres. The program aims to test the continuity of the stacked shallow-dipping lode system across the newly acquired corridor, potentially linking the Dulcie North and Dulcie deposits and expanding the current resource base.

This drilling initiative follows recent efforts at the Consolidated Dulcie Gold Project, where an eight-hole RC program was launched targeting near-resource zones and strategic gaps along the mineralised corridor, as reported in April. The new drilling campaign builds on that momentum and is expected to provide critical data to support resource growth and enhance project valuation.

Consolidated Dulcie Holds Significant Gold Resource

The Consolidated Dulcie Gold Project currently boasts a JORC (2012) Inferred Mineral Resource of 21.3 million tonnes at 1.0 g/t gold, equating to approximately 675,000 ounces. This resource is spread across the Dulcie, Dulcie North, and Dulcie Far North deposits, all situated within granted mining leases that benefit from favourable infrastructure, including sealed road access and proximity to regional processing hubs such as Marvel Loch and Edna May.

Zenith’s recent resource update in late April confirmed the maiden 675,000-ounce resource, marking a significant milestone for the company and setting a solid foundation for further exploration and development. The acquisition of M77/599 is expected to play a pivotal role in unlocking additional ounces along the primary Dulcie trend.

Project Positioned in a Proven Gold Belt

Located within the Southern Cross–Forrestania Gold Belt, the Consolidated Dulcie project benefits from a well-established geological setting known for hosting significant gold mineralisation. The region's infrastructure and granted mining leases reduce permitting risks and support the feasibility of near-surface, open-pit style mining operations.

Zenith’s portfolio also includes other promising projects such as the Red Mountain Gold Project in Queensland and the Split Rocks Lithium Project in Western Australia, demonstrating the company’s diversified approach to resource development. The recent tenure consolidation at Dulcie complements these assets by strengthening Zenith’s flagship project.

This acquisition and the planned drilling program come amid Zenith’s ongoing strategic review process aimed at maximising shareholder value, which includes exploring corporate and asset-level alternatives. The company has yet to receive binding proposals but continues to position the Consolidated Dulcie Gold Project as a cornerstone asset with significant upside potential.