Zenith Minerals Launches Strategic Review of Gold and Lithium Assets

Zenith Minerals has launched a strategic review to assess corporate and asset-level options across its gold and lithium portfolio. The company appointed Argonaut as financial adviser for the process. Operations will continue as usual during the review.

The project includes granted mining leases and development optionality. A recent acquisition of a mining lease has consolidated the tenure. The Dulcie project contains a JORC-compliant inferred resource of 21.3 million tonnes at 1.0 gram per tonne gold for 675,000 ounces.

The resource lies across a consolidated six-kilometre-long mineralised corridor. The newly acquired lease covers a 600-metre section that previously separated the northern and southern parts of the tenure. Gold mineralisation on both sides of the intervening ground is continuous.

The company believes the 600-metre stretch may contain additional resource potential. This continuity supported the decision to bring the full six-kilometre trend under its control.

The company has received inbound approaches and expressions of interest in recent months. It will engage with interested parties under confidentiality and standstill arrangements. The company stressed there is no certainty the review will result in any transaction.

The review follows the start of a fresh drilling program at Dulcie in early April. The program targets near-resource zones for additional gold ounces and potential grade uplift. It also includes drilling on the newly acquired mining lease and regional targets across the Split Rocks lithium project tenure.

The Dulcie project has established infrastructure access and development studies are underway. The strategic review is expected to provide the market with further information on the project's value and potential pathways forward.