Zenith Minerals Advances Exploration at Promising Dulcie Project

Zenith Minerals Defines Major Gold Exploration Target at Dulcie Project

Zenith Minerals (ASX: ZNC) has announced a significant milestone in its gold exploration strategy, defining a robust Exploration Target of 0.3 to 0.8 million ounces at its Consolidated Dulcie Gold Project in Western Australia. This target, comprising 10–24 million tonnes grading 0.9–1.1 g/t gold, sits alongside the company's existing resource and highlights substantial growth potential within the project area.

Major Growth Potential Beyond Existing Resource

The newly defined Exploration Target is particularly significant as it stands entirely separate from Zenith's existing Dulcie Far North (DFN) Inferred Mineral Resource of 8.2 million tonnes at 1.2 g/t gold for 302,000 ounces. This essentially means the company has identified potential to more than triple its current gold inventory across the consolidated project area.

Managing Director Andrew Smith emphasised the strategic importance of this development:

"The definition of a substantial Exploration Target at the Consolidated Dulcie Project marks an exciting new phase for Zenith, as we aim to unlock the full potential of the Dulcie shear zone. Zenith is now well-funded following our recent rights issue, and we are actively advancing our drilling strategy with Strike Drilling set to commence RC drilling at DFN on 28 July."

Importantly, the company notes that the Exploration Target is based solely on extrapolation from existing drill data and excludes extensive undrilled zones, deeper mineralisation, and potential extensions. This suggests the true scale of the gold system could be significantly larger than the current target range indicates.

Immediate Drilling Program to Test Exploration Target

Following the completion of a recent rights issue that has fully funded the company's exploration plans, Zenith Minerals is wasting no time in advancing the Dulcie Project. A comprehensive 9,000–12,000 meter reverse circulation drilling campaign has been finalised and is scheduled to commence on July 28, 2025.

The drilling program will strategically target:

• Strike and depth extensions of known high-grade mineralisation
• Previously untested Banded Iron Formation (BIF) horizons
• Newly identified footwall lodes
• Structurally complex zones interpreted as potential gold traps

This systematic approach aims to rapidly convert the Exploration Target into JORC-compliant resources, particularly at the Dulcie and Dulcie North prospects, which would complement the existing resource at Dulcie Far North.

Promising Metallurgical Results Support Economic Potential

In addition to the Exploration Target definition, Zenith reported highly encouraging preliminary metallurgical test results from the Dulcie Gold Project. Key findings include:

• High gold recoveries exceeding 92% after 24 hours of cyanide leaching
• Strong gravity gold recovery potential (up to 34.7% in fresh material)
• Low residual gold content (0.03-0.07 g/t) in tailings
• Rapid leach kinetics with majority of extraction completed within 8 hours
• Low cyanide consumption of approximately 0.33 kg/t

These results suggest the mineralisation at the Dulcie Project is amenable to conventional processing methods, which could significantly enhance the economic viability of any future mining operation.

Understanding the Geological Setting

The Consolidated Dulcie Gold Project is strategically located within the highly prospective Southern Cross–Forrestania Greenstone Belt of Western Australia's Yilgarn Craton, approximately 400 km east of Perth and 80 km south of Southern Cross.

What makes this project particularly interesting is Zenith's evolving geological understanding. While initial exploration at Dulcie and Dulcie North (2019-2022) interpreted gold mineralisation as limited to discrete narrow lodes, recent drilling at Dulcie Far North has identified a substantial laterally extensive sheeted vein system up to 400 meters wide.

This new geological model has transformed the company's understanding of the entire Dulcie trend. Zenith now believes this extensive gold system persists southwards into Dulcie North and Dulcie, where drilling remains incomplete. Further confirmation of this continuity could dramatically enhance future resource estimates.

Strategic Land Position and Development Pathways

Zenith has strategically consolidated control over the broader Dulcie gold corridor, with its project now covering over 6 km of highly prospective strike along the Dulcie Shear. The company's recent acquisition of subsurface rights to an additional 3 km of strike directly along trend from DFN was a key strategic move.

Importantly, these newly acquired tenements include active heap-leach mining operations, which substantially de-risks the Dulcie Project by:

1. Validating existing permitting pathways
2. Demonstrating proven mineralisation amenable to mining
3. Potentially accelerating the route to future gold production

The company holds strategic call options enabling it to acquire either the subsurface rights or full ownership of this tenement package upon achieving specific resource milestones, providing clear pathways toward full project control.

What Does Gold Mineralisation in Shear Zones Mean?

Gold mineralisation in shear zones, like those found at the Zenith Minerals Dulcie Project exploration, forms when gold-bearing fluids migrate through zones of structural weakness in the Earth's crust. These shear zones act as plumbing systems for mineral-rich fluids during mountain-building events.

For investors, shear zone-hosted gold deposits are particularly attractive because they often feature:

1. Excellent continuity: The structural controls can create predictable mineralisation patterns that extend for significant distances
2. Multiple parallel structures: The potential for stacked or repeating gold lodes increases the tonnage potential
3. Depth potential: These systems typically extend to considerable depths, creating long-life mining opportunities

The identification of a 400-meter wide sheeted vein system at Dulcie Far North is significant because it suggests the gold system is much more extensive than previously thought, with greater tonnage potential across the entire Zenith Minerals Dulcie Project exploration trend.

Next Steps and Timeline

Zenith's immediate objective is to systematically test and validate the newly defined Exploration Target, with the goal of converting exploration success into maiden JORC-compliant Mineral Resources at Dulcie and Dulcie North.

The company has outlined a clear timeline for advancing the Zenith Minerals Dulcie Project exploration:

• Late July 2025: Commence initial 10-12 hole RC drilling program at Dulcie Far North
• H2 2025: Complete phased 9,000-12,000 meter drilling program across the Dulcie Trend
• Ongoing: Regular updates to shareholders as drilling progresses and assay results are received

In parallel, Zenith is preparing for deep drilling at its Red Mountain Gold Project in Queensland, creating a robust pipeline of exploration news flow across multiple gold assets.

Why Investors Should Watch Zenith Minerals

Zenith Minerals presents a compelling investment case at its current stage of development for several key reasons:

1. Significant resource growth potential: The new Exploration Target could potentially triple the company's current gold inventory at the Dulcie Project.

2. Fully funded exploration: Following its recent capital raising, Zenith is well-funded to execute its ambitious drilling programs without near-term dilution risk.

3. Strategic land position: The company has consolidated control over 6+ km of the highly prospective Dulcie gold trend, creating a potential district-scale opportunity.

4. De-risked development pathway: The presence of active heap-leach operations on newly acquired tenements demonstrates viable mining and permitting pathways.

5. Favourable metallurgy: Early test work indicates excellent gold recoveries with conventional processing methods, enhancing economic potential.

6. Diversified asset base: Beyond Dulcie, Zenith holds promising gold assets in Queensland and a 25% free-carried interest in the Earaheedy Zinc Deposit, providing multiple paths to value creation.

7. Imminent news flow: With drilling commencing in late July 2025, investors can expect regular updates and potential resource upgrades in the coming months.

With gold prices remaining strong and a renewed investor interest in quality gold exploration plays, Zenith's systematic approach to unlocking the full potential of the Dulcie Gold Project positions it as a compelling junior gold stock to watch closely through 2025 and beyond.

Want to Capture the Next Major Gold Discovery?

Discover significant ASX gold announcements the moment they break with Discovery Alert's proprietary Discovery IQ model, which instantly transforms complex mineral data into actionable insights. Explore why historic discoveries can generate substantial returns by visiting Discovery Alert's dedicated discoveries page and position yourself ahead of the market.