Zeus Resources Ltd (ASX: ZEU) has been granted Exploration Licence EL7058 by the South Australian Government, significantly expanding its Kalabity Project. The newly acquired tenement, covering 218 square kilometers, is strategically located 420 km northeast of Port Augusta, adjacent to Sinosteel Uranium Pty Ltd’s Crocker Well Uranium Project. EL7058 is considered prospective for uranium, rare earth elements (REE), gold, base metals, and lithium mineralization, enhancing Zeus Resources’ exploration portfolio in the Olary district. The addition of EL7058 brings Zeus Resources’ total exploration tenure in the Kalabity Project area to 366 square kilometers, complementing the existing EL7008 tenement. Zeus plans to explore primarily for sediment-hosted uranium and base metals within EL7058. Other potential targets include pegmatite/granite-hosted uranium, REE, and lithium mineralization, iron oxide copper-gold (Fe-Ox Cu-Au) deposits, large disseminated/stratabound copper and/or gold deposits, Broken Hill-type Ag-Pb-Zn deposits, and stratabound/sediment-hosted base metal mineralization. Historical exploration within EL7058 has been limited, focusing primarily on gold, base metals, and uranium. North Mining Ltd conducted auger drilling in 1995 targeting Broken Hill-style and Roxby Downs-style deposits. Zeus Resources aims to leverage its experience in exploring for gold, base metals, uranium, pegmatite-hosted lithium, and REE minerals in Western Australia to effectively explore EL7058. The company will develop an exploration program, prepare a Mining Management Plan for Exploration (MMP), and engage with key stakeholders before commencing preliminary exploration works. Zeus Chair, Alvin Tan, emphasized the strategic importance of the tenement, highlighting its potential for REE, gold, base metals, and uranium deposits, crucial for modern technology and sustainable energy solutions. The company plans to integrate exploration activities on EL7058 with its existing EL7008 tenement at Bimbowrie.
