Zenith Minerals : Dulcie Far North Gold Mineralisation Extends Over 1km

18th January 2022

only		Corporate Details
Zenith Minerals Limited (ASX:ZNC)
use		ABN: 96 119 397 938
			323.1M*
Issued Shares
Unlisted options	14.5M
Mkt. Cap. ($0.39)	A$126M
Cash (30th Sep 21)	A$6.2M*
Equities (30th Sep 21) A$8.3M
Debt					Nil
Excludes EVM placement of 20M*
shares raising A$6M as announced
13-Jan-22.
personal			Our Vision
			Directors
Michael Clifford	Director-CEO
Stan Macdonald	Non-Exec Director
Julian Goldsworthy Non-Exec Director
Nicholas Ong	Co Sec
Nick Bishop………..CFO
	Major Shareholders
Directors			3.4%
HSBC Custody. Nom.	9.4%
Citicorp Nom		9.0%
BNP Paribas. Nom.		5.8%
Granich				3.7%
Zenith has a vision to maximise
shareholder	value	through superior
For		generation	and	exploration
p oject
activities.
Focus is on 100% owned Zenith
projects,	whilst partners	progress
multiple additional opportunities, using
third party funds.
Contact Us
Level 2, 33 Ord Street
WEST PERTH WA 6005
PO Box 1426
WEST PERTH WA 6872
Telephone:	[phone]

Email:[e-mail]

Web:www.zenithminerals.com.au

DULCIE FAR NORTH GOLD MINERALISATION EXTENDS OVER 1KM - SPLIT ROCKS PROJECT

In addition to the recent announcement (ASX Release 13-Jan-22) that Zenith is refocusing on lithium, backed by new joint ventures with the EV Metals Group (EVM), the Company reports drill results from one of its existing gold projects, Split Rocks, located in Western Australia.

New results from the first 50 holes, from a recently completed 150-hole aircore/slimline RC drill program testing multiple targets have now been received. New results from Dulcie Far North, one of 6 prospects tested in the late 2021 drill program, show continuity of gold mineralised trends in the near surface, over a strike of approximately 1km north-south.

Initial 4m composite assay results from this aircore/slimline RC drilling at Dulcie Far North, include:

• 12m @ 2.9 g/t Au
• 8m @ 1.8 g/t Au, including 4m @ 3.1 g/t Au
• 8m @ 1.7 g/t Au, including 4m @ 2.8 g/t Au
• 3m @ 2.8 g/t Au
• In addition, a further 7 shallow drill holes ended in gold mineralisation grading >0.4 g/t Au.

New results are in addition to those released in September 2021 for Dulcie Far North (ASX Release 30-Sep-21), that included:

• 4m @ 10.2 g/t Au (eoh), incl 2m @ 19.8 g/t Au (eoh)
• 9m @ 1.8 g/t Au incl 2m @ 6.2 g/t Au
• 8m @ 1.1 g/t Au incl 2m @ 3.2 g/t Au, and

Assay results for a further 100 holes from the adjoining Dulcie North, Scott's Grey, Water Bore, British Hills East & Estrela prospects are still awaited.

RC drilling is planned to resume in late January 2022 to better define and extend gold mineralisation in the bedrock at Dulcie Far North as well as at Dulcie Laterite Pit, Dulcie North, & Water Bore.

This follow-up RC drill program focused on gold may be expanded pending results from Scott's Grey, British Hills East & Estrela.

Commenting on the Split Rocks drill results, CEO Mick Clifford said: "We are very pleased that drilling from one of our existing gold projects, Split Rocks, has continued to deliver highly encouraging results with further near surface gold mineralisation intersected at Dulcie Far North. These new results are from the first batch we have received from the large drill program completed late last year, assays from a further 100 holes are still outstanding. The new results better define the zone of near surface gold mineralisation at Dulcie Far North and set up targets for deeper RC drill testing in the bedrock. We are fortunate to have an RC drill rig booked to commence work at Split Rocks in late January and look forward to continued gold exploration success on this project."

Split Rocks Project - Background on Gold Potential

A major targeting exercise by the Company's geological team initially identified 12 high-quality gold drill targets at Split Rocks, subsequently expanded to 18 targets in the north-eastern sector of the Company's project area (refer to ZNC ASX Release 2-Sept-20).

onlyDrilling to date has tested 14 targets with outstanding first pass results returned to date at 6 prospects (ASX Releases 5-Aug-20, 2-Sep-20, 19-Oct-20, 28-Oct-20, 15-Jan-21, 11-Mar-21, 21-Apr-21, 24-Jun-21, 13-Jul-21,30- Sep-21):

1. Dulcie North: 32m @ 9.4 g/t Au, incl 9m @ 31.4 g/t Au o Dulcie Laterite Pit:
2. • 2m @ 14.5 g/t Au, incl. 1m @ 20.8 g/t Au,
   • 18m @ 2.0 g/t Au (EOH) incl. 1m @ 23.7 g/t Au
   • 14m @ 3.5 g/t Au
   • 3m @ 17.9 g/t Au

use	o Estrela Prospect: 2m @ 9.8 g/t Au
o Dulcie Far North: 5m @ 5.6 g/t Au incl. 4m @ 6.8 g/t Au, 4m @ 10.2 g/t Au
o	Water Bore: 3m @ 6.6 g/t Au
o	Scott's Grey: 8m @ 4.1 g/t Au, 12m @ 1.7 g/t Au

Infill and extensional slimline RC/aircore drilling (150 holes) has recently been completed at Dulcie Far North, Dulcie

North, Scott's Grey, British Hills East and Water Bore with assay results awaited for the latter 5 prospects. New personalresults from Dulcie Far North, one of 6 prospects drill tested in the program, show continuity of gold mineralised trends in the near surface, over a strike of approximately 1km north-south (refer to Figures 2 - 4 and Tables 1 & 2).

RC drilling on the significant near surface gold results at the 4 Dulcie targets, Dulcie Laterite Pit, Dulcie North, Dulcie Far North & Water Bore are planned with a rig booked to commence drilling in late January 2022.

Note Zenith retains gold rights at Dulcie Far North, Dulcie North, Dulcie Laterite Pit Zone and Scott's Grey below 6m, subject to the Dulcie option agreement (refer to ASX Release 21-Mar-19).

For

Figure 1: Figure 1- Split Rocks Project Location Map Showing Zenith tenements, Dulcie Heap Leach Gold Operation

(DHLGO*) Prospect and Regional Gold Endowment. (*Gold rights below 6m subject to option agreement).

For personal use only

Figure 2: Split Rocks Project Gold Targets and Significant RC - Aircore Drill Results (yellow captions) showing gold

drill targets, and areas of Recent Drilling

For personal use only

Figure 3: Dulcie Far North Plan Showing Significant Gold Drilling Results

For personal use only

Figure 4: Dulcie Far North Cross Section Showing Significant Gold Drilling Results

Table 1: Split Rocks Significant Drill Results

	Hole ID									Interval			Au
			From (m)			To (m)					Grade
							(m)
												(g/t)
	ZAC419A					NSR
	ZAC420					NSR
	ZAC421					NSR
	ZAC422					NSR
	ZAC423					NSR
	ZAC424		0			4			4			2.0
	and		62			65 (eoh)			3			0.8
	ZAC425		0			4			4			0.6
	and		52			56			4			1.7
	ZAC426		24			36			12			2.9
	ZAC427		40			48			8			1.0
	ZAC428		64			72 (eoh)			8			0.9
	incl		64			68			4			1.4
	ZAC429		75			78 (eoh)			3			0.4
	ZAC430					NSR
	ZAC431		36			40			4			1.2
	ZAC432		4			8			4			0.6
	and		44			48			4			0.9
	and		63			66 (eoh)			3			0.4
	ZAC433		24			36			12			0.9
	incl		24			28			4			1.5