Zeus Resources (ASX:ZEU) is extending the deadline for the acquisition of the Casablanca Antimony Project in Morocco until 24 June 2025.
This decision provides more time for Zeus and the seller, Ashgill Morocco, to facilitate the completion of the necessary third-party approvals for the acquisition.
In March, the company entered into an acquisition deal with Ashgill Morocco and paid the vendor $25,000 for an exclusive 45-business-day option to acquire the project.
Zeus is completing legal and technical due diligence on the project and the vendor. In conjunction, the company is also working to obtain all necessary approvals, including shareholder and regulatory approvals.
Early last month, the company conducted a site visit which Zeus said reinforced its confidence in the scale and quality of the project.
As Mining.com.au previously reported, Executive Director Hugh Pilgrim said the “combination of high-grade mineralisation at surface, favourable geology, and strong local support positions us well to move rapidly into active exploration”.
“We are particularly encouraged by the continuity of structures and the immediate opportunity to generate drill-ready targets,” Pilgrim says.
The Casablanca Antimony Project comprises six licenses covering an area of approximately 79km2 at the provincial boundary separating the Khouribga and Khenifra Provinces in the Beni Mellal-Khenifra Region of Morocco.
The project is about 42km northeast of Khouribga and 115km southeast of Casablanca. Direct access is via road R311, which joins the city of Oued Zem to the Moulay Bouazza township.
Write to Aaliyah Rogan at Mining.com.au
Images: Zeus Resources
