Highlights

  • Blaze Minerals has completed trenching at the Krokodil Prospect within the Dinokwe Base Metals Project in Botswana.
  • even trenches were excavated for a combined 443 metres.
  • The company collected 89 channel samples, which will be sent to Scientific Services Laboratory in South Africa.
  • Spot XRF readings included up to 8.59% copper, 0.38% lead and 0.23% zinc.
  • Other reported spot XRF readings included 5.86% copper, 3.23% copper and 2.96% lead.

Blaze Minerals Limited (ASX:BLZ) has announced the completion of its trenching campaign at the Krokodil Prospect, part of the Dinokwe Base Metals Project in Botswana. The company said the program confirmed the presence of in-situ copper, lead and zinc mineralisation from multiple sub-structures within a broader shear zone.

Blaze shares were trading flat at AUD 0.001 during the afternoon session on 17 June 2026.

About Blaze Minerals

Blaze Minerals is a mineral exploration company focused on identifying and developing high-value ore deposits in prospective regions.

The company has entered into an agreement to acquire up to a 90% interest in three project areas in Botswana. These include the Dinokwe Base Metals Project, the Kalahari Project and the Molopo Project.

The Dinokwe Project covers approximately 1,771 square kilometres and is considered prospective for nickel-copper-platinum group element mineralisation. The Kalahari Project covers around 2,968 square kilometres within and near the Kalahari Copper Belt and is considered prospective for copper-silver mineralisation. The Molopo Project covers around 212 square kilometres over the Molopo Farms Complex and is considered prospective for nickel-copper-platinum group element mineralisation.

Blaze also has two projects in Uganda: the Ntungamo Project, located near the Mwirasandu Mine, and the Mityana Project, which includes the site of a historic open-cut tantalite mine.

Trenching Confirms In-Situ Mineralisation

The latest update focused on fieldwork at the Krokodil Prospect, where Blaze is targeting copper-lead-zinc mineralisation.

The company completed seven trenches across the prospect for a total excavation length of 443 metres. The trenches were designed to test the primary mineralised zone linked to a copper-in-soil anomaly extending over approximately 1,000 metres by 100 metres.

Blaze also aimed to assess parallel structures that may host mineralisation.

The trenches were excavated using a 30-tonne excavator and were oriented north-south to northeast-southwest, broadly perpendicular to the interpreted strike of the mineralised zone.

Following excavation, company geologists mapped each trench, recording lithologies, structural features and visible mineralisation.

89 Channel Samples Collected for Laboratory Testing

A total of 89 channel samples were collected during the trenching campaign.

The samples will be sent to Scientific Services Laboratory in South Africa for multi-element and gold analysis.

Blaze said its geologists inserted quality assurance and quality control samples, including blanks, duplicates and certified reference materials, every 10 samples.

Laboratory results are expected in six to eight weeks.

The company made clear that assay results from the channel samples are not yet available. Current results are based only on spot XRF readings, which are considered indicative and not fully representative.

Spot XRF Readings Highlight Copper, Lead and Zinc

The trenching campaign returned several notable spot XRF readings from exposed mineralised zones.

The highest reported reading was 8.59% copper, 0.38% lead and 0.23% zinc from trench KT002 at 71 metres from the trench start.

Another spot reading from trench KT002, at 70 metres, returned 5.86% copper, 0.17% lead and 0.35% zinc.

Additional readings included 3.23% copper from trench KT001, 2.96% lead from trench KT002 and 1.25% lead from trench KT005.

Other reported XRF readings included 0.92% lead and 0.77% zinc from trench KT001, and 1.01% lead with 0.30% zinc from trench KT003.

Blaze noted that spot XRF scans are single-point readings and should not be treated as representative grades. The readings are intended to highlight potentially mineralised zones for follow-up testing.

Krokodil Prospect Sits Within a Broader Base Metals Setting

The Krokodil Prospect lies within the Mahalapye and Baines Drift Complexes, which form part of the regional Limpopo Mobile Belt.

The region is considered prospective for base metals, with mineralisation typically associated with amphibolites or late-stage ultramafic rocks.

Blaze noted that the Mahalapye and Baines Drift Complexes share geological similarities with the Phikwe Complex, which hosts the Selebi-Phikwe copper-nickel deposit around 150 kilometres to the north.

The company also highlighted previous exploration in the Baines Drift Complex by Albidon Limited, which intersected sulphide mineralisation at the Sunnyside target, including 18.64 metres at 0.75% nickel and 0.55% copper.

Acquisition Progress Supports Botswana Strategy

Alongside the exploration update, Blaze confirmed it has completed the acquisition of an initial 70% shareholding interest in B&J Geoconsultants Pty Limited.

B&J owns the Dinokwe Project licences.

Blaze also has the ability to acquire an additional 20% shareholding interest in B&J, subject to deferred consideration, as previously announced on 11 March 2026.

This transaction is important for Blaze because it gives the company control over a major base metals exploration package in Botswana.

Soil Sampling to Continue Along Potential Extensions

While the company waits for laboratory assay results, field activity is expected to continue.

Blaze intends to extend its soil sampling program to the east and north of the Krokodil Prospect. This work is aimed at identifying possible extensions of the mineralised structure that have not yet been defined.

Managing Director Mathew Walker said the spot XRF readings from the channel sampling program build on earlier readings from the rock-chip sampling program. He also stated that field activities will continue along strike of the mineralised structure while the company awaits laboratory assay results.

Why Investors Are Watching the Update

The announcement provides evidence of continued exploration progress at Blaze’s Botswana base metals portfolio.

The completion of 443 metres of trenching, collection of 89 channel samples and identification of visible mineralisation all represent field-based steps toward better understanding the Krokodil Prospect.

The spot XRF readings indicate the presence of copper, lead and zinc in trench exposures, although these readings remain preliminary and require laboratory confirmation.

Investors are likely to focus on the pending assay results, as these will provide more reliable data on grade, width and continuity of mineralisation.

What This Means for Investors

Blaze Minerals’ latest update marks a fieldwork milestone at the Krokodil Prospect. The company has completed trenching, confirmed visible mineralisation, collected 89 channel samples and reported indicative spot XRF readings from several trenches.

The next key stage will be laboratory assay results from Scientific Services Laboratory in South Africa, expected in six to eight weeks. These results will help determine the significance of the copper, lead and zinc mineralisation identified during trenching.

Until then, the company plans to continue soil sampling along potential extensions of the mineralised structure, keeping exploration activity active across the prospect.