en.Wedoany.com Reported - Strata Minerals (ASX:SMX) has expanded its continuous control over the Zelica gold system in Western Australia through the low-cost acquisition of tenement E39/2491 and the application for tenement E39/2606. The company plans to conduct a high-resolution airborne magnetic survey over the expanded project area to refine existing drill targets and identify new exploration opportunities.
Recent drilling has confirmed shallow oxide gold mineralization over approximately 1 kilometer of strike, which remains open at depth and along strike. Managing Director Peter Woods stated that while the latest drilling has confirmed the project hosts a substantial shallow gold system, significant areas remain to be evaluated. He noted that expanding the landholding and completing the first modern project-scale magnetic survey represent another step toward defining what could be a significant gold project. The high-resolution magnetic survey will significantly enhance understanding of the geological and structural controls on gold mineralization. When combined with recent drilling, mapping, and geochemical datasets, it can refine existing targets and identify new priority opportunities for follow-up exploration. With less than 15% of the 9.5-kilometer gold corridor systematically tested, the exploration upside is considerable. This survey will provide the technical foundation for the next phase of growth, while the company advances pre-development activities at Zelica in partnership with BML Ventures, aligning exploration growth with development.
The project is located in the Yundamindra region of Western Australia, between Leonora and Laverton. SMX has engaged MAGSPEC Surveys to complete an airborne magnetic survey covering 27.8 square kilometers with 50-meter line spacing. Most of the expanded project area has not previously been covered by modern high-resolution airborne geophysical surveys. The new magnetic dataset will help the company understand the geology beneath transported cover, identifying lithological contacts, faults, shear zones, and intrusions that may control gold mineralization. The data will be integrated with recent drilling, geological mapping, and surface geochemical data to refine existing drill targets and identify new exploration opportunities along the 9.5-kilometer gold corridor.
Exploration is advancing in parallel with pre-development activities through a funding, development, and mining partnership with BML Ventures. Under the agreement, BMLV manages approvals, mining activities, haulage, and toll processing arrangements, and funds all capital and operating costs required to advance the project to production. In return, BMLV will receive 50% of net profits after repayment of all costs and expenses.
