Zenith Minerals has further consolidated its land position at its Dulcie gold project in Western Australia through its acquisition of mining lease M77/599 from Temporary Resources.
The company’s inferred mineral resource now totals 21.3 million tonnes grading 1 gram per tonne (g/t) gold for 675,000 ounces at the consolidated Dulcie gold project.
Under the terms of the deal, Zenith will pay Temporary a AU$50,000 non-refundable deposit and AU$1.45 million in cash at settlement. Zenith also agreed to a 2 per cent net smelter return royalty on all minerals produced from the project at the start of commercial production.
Zenith Managing Director Andrew Smith said securing M77/599 consolidates the company’s position within the broader gold system.
“As we advance scoping study work and assess development pathways, controlling strategic tenure within the corridor simplifies planning and strengthens our ability to unlock value from the expanded resource base,” Smith said.
“M77/599 carries legacy royalty arrangements that are well understood and have been incorporated into our development assessment—in the context of the enlarged resource base and our evaluation of staged open pit and potential toll-treatment pathways, we consider the acquisition commercially appropriate and strategically aligned.”
The project consists of contiguous mining licences covering over six kilometres of strike length and consolidates Zenith’s existing Dulcie Far North mining lease and recently secured Dulcie Subsurface rights area.
The tenements hold active heap-leach mining operations that substantially de-risk the project by validating existing permitting pathways, demonstrating proven mineralisation amenable to mining and potentially accelerating the route towards gold production.
The consolidation of these tenements strengthens Zenith’s exploration and development potential by leveraging existing regional infrastructure and supports potential accelerated development pathways.
