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Zenith Minerals Limited (ASX:ZNC)

ALERT: Price-sensitive ASX Announcement for ZNC
Current share price for ZNC : $0.090 -0.055 (-37.93%)+
Announcement
Release
1 Oct 2025 8:25AM
Price at Release
$0.145
Full Release
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Summary
Zenith Minerals Limited has announced the commencement of its largest ever drilling campaign at the Dulcie Consolidated Gold Project in Western Australia. The Phase 2 Reverse Circulation (RC) drill program aims to convert a significant portion of the recently defined Exploration Target of 0.3 to 0.8 Moz into Inferred Mineral Resources. The campaign involves 9,000-12,000 meters of drilling with two rigs to accelerate results, focusing on both resource conversion and exploration of new targets. The Dulcie project comprises several mining leases and subsurface rights, with strategic agreements in place to consolidate and potentially expand ownership. Zenith's strong financial position, bolstered by strategic placements and rights issues, supports this extensive exploration effort. The company has also scheduled an Extraordinary General Meeting to seek shareholder approval for a strategic placement with Ida Metal Investments.
Key Points
  • Zenith launches largest drilling campaign at Dulcie Gold Project.
  • Phase 2 RC drill program aims to convert Exploration Target to Inferred Resources.
  • Drilling to cover 9,000-12,000 meters with two rigs.
  • Focus on resource conversion and exploration of new targets.
  • Dulcie project includes multiple mining leases and subsurface rights.
  • Strategic agreements in place to consolidate and expand ownership.
  • Strong financial position with recent strategic placements and rights issues.
  • Extraordinary General Meeting scheduled for strategic placement approval.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.