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Strata Minerals (ASX: SMX) has established a maiden JORC 2012-compliant mineral resource of 42,000 ounces at its Zelica gold project in Western Australia, providing a foundation for potential mine development and further exploration.
The resource comprises 814,000 tonnes grading 1.61 grams per tonne (g/t) gold, with 68 per cent of the contained ounces classified as indicated.
The indicated component totals 28,500 ounces grading 1.69g/t gold, while the remaining 13,500 ounces are classified as inferred at 1.46g/t.
For investors, the high proportion of indicated resources is significant, providing greater geological confidence as Strata progresses mine planning and development studies.
The maiden estimate follows reverse circulation drilling campaigns completed in November 2025 and March 2026, which targeted extensions to known mineralisation and improved understanding of higher-grade zones.
It supersedes an earlier resource estimate prepared under the JORC 2004 Code by Exterra Resources.
Strata managing director Peter Woods said the milestone strengthened the company’s development ambitions.
“The establishment of our compliant maiden resource is an important milestone for Strata and a significant step forward in advancing Zelica towards potential development,” Woods said.
“What is particularly encouraging is that we have defined a resource with more than two-thirds of the ounces now classified as indicated, strengthening our confidence as we progress mine planning and development studies.”
The resource is constrained within an optimised pit shell using a gold price assumption of $5500 per ounce.
Higher-grade mineralisation remains present at the base of the pit shell, with the deposit open down dip and along strike.
Zelica sits within a broader 9.5km gold corridor in the Yundamindra district, between Leonora and Laverton, where much of the prospective ground remains largely unexplored.
The project is located on a granted mining lease and within approximately 50km of several processing mills and multiple gold deposits containing more than one million ounces.
Strata is also progressing potential mining options through its mining services and profit share agreement with BML Ventures, which is responsible for funding pre-development, development and mining activities.
The arrangement provides a potential pathway towards production while allowing Strata to pursue further resource growth.
“Importantly, this is just the beginning as mineralisation at Zelica remains open at depth and along strike, with much of our broader 9.5km gold corridor yet to be systematically explored,” Woods said.
For investors, the next catalysts will be further exploration results, potential resource extensions and progress on mine planning under the BML Ventures agreement.
While the initial 42,000-ounce resource remains relatively modest, its indicated classification, granted mining lease and proximity to established gold infrastructure provide a starting point for assessing Zelica’s development potential.
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