Zenith lasers in on Aussie gold ounces

Zenith Minerals has sold its interest in a Turkish gold project and added $830k to the coffers to increase focus on Australian ounces.

Zenith is now well positioned to explore and get to drilling throughout 2025. Pic: Getty Images

Special Report: Zenith Minerals has sold its interest in a Turkish gold project and added $830k to the coffers to increase its focus on accumulating Australian ounces.

• Zenith Minerals has divested a non-core Turkish gold asset
• Proceeds to gear up exploration on emerging gold projects in WA and Queensland
• M&A murmurs continue to heat up over the Australian sector

The additional capital expected from a heads of agreement deal for a remaining 20% stake in the Kavaklitepe gold project will allow Zenith Minerals (ASX:ZNC)to expand on drilling success at the Dulcie Far North project and go to next level exploration at Red Mountain.

Once definitive agreements are finalised Zenith will have no more financial obligations or liabilities associated with the Turkish JV.

Zenith managing director Andrew Smith said the divestment aligned with the company’s disciplined approach to portfolio optimisation and value creation.

“Our focus remains on recent gold discoveries in Australia and ensuring that every dollar is directed toward high growth opportunities,” Smith said.

“With drilling advancing at Dulcie Far North and Red Mountain, Zenith is well positioned to deliver strong exploration momentum throughout 2025.”

DFN tracks to development

After its last campaign returned a 40% increase to 210koz contained gold at 1.3g/t, Zenith sees room for expansion through targeted drilling of the footwall domains at its Dulcie Far North project in the Southern Cross-Forrestania Greenstone Belt of WA.

The company kicked off its next round last month, directed at testing the footwall and exploring high-potential northern and down-dip extensions to expand the inferred resource.

Results from the 35-hole program are expected soon and the company will weigh up standalone and toll treatment options in an upcoming scoping study.

Scaling Red Mountain

And at its Red Mountain project in Queensland’s lesser-explored central region, Zenith has discovered a gold system which could prove to be no molehill.

While early drilling outlined a breccia-hosted gold system, a geological review concluded the project could represent a large and vertically extensive intrusive related system with similarities to 1.1Moz Mt Wright.

The company is yet to get the rigs spinning there but is plotting a deep diamond campaign in line with Mt Wright where the good stuff is expected at depths beyond 200m.

M&A continues to heat up over the Australian gold space, and Zenith doesn’t seem to expect much opposition to placing its focus on safe Aussie aurum now trading beyond US$3000 an ounce.

This article was developed in collaboration with Zenith Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Zenith lasers in on Aussie gold ounces