Strata Minerals Posts 94% Hit Rate in Phase 2 Drilling at Zelica Gold Project

Outstanding Drill Success at Zelica

Strata Minerals (ASX:SMX) has reported an exceptional 94% hit rate in its recently completed Phase 2 reverse circulation drilling campaign at the Zelica Gold Project in Western Australia. Of the 17 extensional holes drilled over 2,209 metres, 16 intersected significant gold mineralisation, reinforcing Zelica’s status as a burgeoning high-grade gold system.

The standout intercept came from hole SZRC030, which returned 2 metres at 7.58 grams per tonne gold within a broader 12-metre zone grading 2.08g/t from 99 metres depth. This zone remains open and lies within a significantly underexplored area, earmarked as a priority target for immediate follow-up drilling.

Expanding Mineralised Footprint and System Continuity

Beyond SZRC030, the Phase 2 results confirm robust continuity with several strong intercepts including 11 metres at 1.25g/t (SZRC029) and 5 metres at 1.84g/t (SZRC028). Importantly, three additional hanging-wall lode intercepts, such as 1 metre at 3.74g/t (SZRC026), demonstrate stacked parallel lodes across multiple drill sections. This materially broadens the overall mineralised system beyond initial interpretations.

The drilling has delineated oxide and transitional gold mineralisation over approximately 1,000 metres of strike and to vertical depths of about 115 metres, with mineralisation remaining open at depth and along strike. The broader Zelica project area encompasses an interpreted 9.5-kilometre prospective gold corridor, of which less than 15% has been systematically tested, highlighting substantial exploration upside.

Strategic Development Partnership Secured

Strata has recently signed a binding Mining Services and Profit Share Agreement with BML Ventures, a seasoned open-pit gold developer and miner. This deal positions Strata to rapidly transition Zelica towards near-term production via a low-capex pathway. BML Ventures will fund and manage mining operations, approvals, and toll treatment, sharing profits 50:50 after cost recovery, significantly reducing Strata’s funding risk.

As part of the arrangement, BML Ventures has agreed to invest up to $1 million in Strata shares at a premium price, subject to shareholder approval. This partnership aligns with Strata’s strategy to fast-track development while continuing systematic exploration across the extensive gold corridor.

Next Steps in Exploration and Resource Definition

With Phase 2 drilling now complete and assay results fully received, Strata is poised to advance a maiden JORC Mineral Resource Estimate. Planned activities include high-resolution magnetic geophysical surveys to refine structural targets and further RC drilling to test high-grade plunging shoots and untested strike extensions.

Priority follow-up drilling will focus on the high-grade intercept zone around SZRC030, alongside step-out drilling across a 200-metre strike length to explore potential grade increases beneath possible depletion zones. Aircore drilling is also planned to investigate stacked lodes east and west of the main trend, targeting underexplored subsurface areas.

Located within the world-class Laverton Greenstone Belt and held under a granted mining licence, Zelica benefits from proximity to established infrastructure and multiple processing mills within 50 kilometres, supporting a viable low-capex development route.