Highlights

  • A high-resolution airborne magnetic survey has identified new gold targets at the Zelica Gold Project in WA.
  • Less than 15% of the 9.5 km Zelica gold corridor has been systematically tested.
  • The West Nest magnetic target extends about 1.5 km beyond a 550m surface gold anomaly.
  • Zelica hosts a maiden JORC Mineral Resource of 814,000t at 1.61 g/t Au for 42,000 oz.

Strata Minerals Limited (ASX:SMX) has identified new gold targets at its 100%-owned Zelica Gold Project in Western Australia following a high-resolution airborne magnetic survey. The project sits in the Yundamindra District between Leonora and Laverton, within about 50 km of several large gold deposits and processing mills.

Survey Results and New Targets

The survey was flown by MAGSPEC Airborne Surveys between 25 and 28 July 2026, covering about 27.8 km² at 50m line spacing for 781 line-km in total. Southern Geoscience Consultants processed the data into enhanced products to support interpretation.

Mineralisation at Zelica sits within a magnetic-low corridor, and several comparable sub-parallel trends remain untested by drilling or surface geochemistry. At Murphy Well, three prospects coincide with a large dilational jog on the Eucalyptus Fault. At West Nest, a surface gold anomaly of about 550m is matched by a magnetic target extending a further 1.5 km into untested ground.

Zelica Resource and Development Pathway

Zelica's maiden JORC 2012 Mineral Resource, reported on 14 October 2026, is 814,000t at 1.61 g/t Au for 42,000 oz of gold, and remains open at depth and along strike. Less than 15% of the 9.5 km gold corridor has been systematically tested.

The project is held under a granted mining lease, and Strata has a Mining Services and Profit Share Agreement with BML Ventures to fast-track development.

Planned Exploration Work

Next steps include targeted surface geochemistry across the new target areas, follow-up geological mapping and target prioritisation using magnetic, geological, drilling and geochemical information.

Potential aircore and RC drilling along and across mineralised trends is being considered, alongside initial grade control drilling at the Zelica Mine and ongoing pre-development work with BML Ventures. No new drilling or assay results were reported in this announcement.

Key Takeaways

  • New magnetic interpretation has added several untested gold targets at Zelica.
  • Most of the 9.5 km gold corridor remains to be systematically tested.
  • The maiden 42,000 oz resource remains open at depth and along strike.
  • Grade control drilling and development work with BML Ventures are progressing.