Zenith Minerals (ASX:ZNC) confirms scale and continuity at Consolidated Dulcie

Zenith Minerals has released a technical update from its Consolidated Dulcie Gold Project in Western Australia’s Forrestania Belt.

Early results from the reverse circulation drilling programme confirm that the system displays the scale, continuity and geological consistency required to support conversion of the Exploration Target into a maiden JORC-compliant Mineral Resource Estimate.

Approximately 50% of assays have now been received from the 77-hole, 12,621 m drilling programme, with results that are broadly consistent with the assumptions underpinning the July 2025 Exploration Target of 0.3 to 0.8 Moz at grades of 0.9 to 1.1 g/t Au.

The drilling has also demonstrated that mineralisation extends beyond the originally constrained target footprint, indicating further upside as geological coverage increases.

Highlights

• Multiple mineralised lodes with grades and thicknesses consistent with the July 2025 Exploration Target assumptions.
• A record high-grade intercept of 3 m at 22.67 g/t Au including 1 m at 56.76 g/t Au at Dulcie Far North.
• Confirmation of stacked, shallow-dipping lode geometry with continuity along strike and at depth.
• Identification of additional lodes outside the Exploration Target envelope, supporting resource expansion potential.
• A defined pathway toward a maiden JORC-compliant Mineral Resource Estimate targeted for late February 2026.

The drilling programme was designed to test continuity and scale along the six kilometre Consolidated Dulcie shear corridor, building on the existing Dulcie Far North Inferred Mineral Resource of 8.2 Mt at 1.2 g/t Au for 302 koz.

Results received to date show that gold mineralisation occurs within broad, coherent lodes that display predictable stacked geometry and continuity both laterally and down dip.

This structural setting mirrors the architecture of the Dulcie Far North deposit and supports confidence in near-term conversion of a material portion of the Exploration Target into JORC-compliant Mineral Resources.

Representative intercepts such as 6 m at 2.66 g/t Au including 3 m at 4.66 g/t Au, 15 m at 1.01 g/t Au including 2 m at 3.64 g/t Au, and 10 m at 1.09 g/t Au including 2 m at 3.14 g/t Au confirm that both grade and thickness are consistent with the assumptions used in the target model.

The high-grade result of 3 m at 22.67 g/t Au including 1 m at 56.76 g/t Au at Dulcie Far North demonstrates that the system is capable of hosting localised high-grade zones within a broader mineralised envelope.

At Dulcie North, drilling has defined a stacked, shallow-dipping lode system that remains open along strike and down plunge, with cross-sectional interpretation indicating increasing grade at depth and continuity beyond the upper portions of the currently modelled system.

Importantly, drilling outside the constrained Exploration Target footprint has intersected additional lodes that confirm the July 2025 target was deliberately conservative and that the mineralised architecture extends beyond the original envelope.

The identification of gold associated with a previously untested banded iron formation in the western target area further validates Zenith’s geological targeting model and defines a new prospective structural and stratigraphic position for follow-up drilling.

Managing Director Andrew Smith said the results continued to reinforce the district-scale nature of the project and the Company’s confidence in both the Exploration Target and the broader corridor.

“Dulcie is rapidly shaping up as a district-scale gold system in one of Western Australia’s hottest gold belts at Forrestania. Results to date continue to confirm scale, continuity and predictable geometry across the corridor, reinforcing our confidence in the Exploration Target and the broader growth potential of the system.”

From a corporate perspective, Zenith is now well funded following a $7.6m capital raising completed at 12.75 cents per share, providing the balance sheet strength required to complete the maiden Mineral Resource Estimate and continue drilling across the corridor.

As remaining assays are received and interpretation is refined, the maiden Mineral Resource Estimate targeted for late February 2026 will establish the first consolidated resource framework for the Consolidated Dulcie gold system.

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