Zeus Resources (ASX:ZEU) has executed a licence agreement with Newmont’s (ASX:NEM) subsidiary to acquire its exploration database and Morocco regional framework study to expedite exploration.
The licence provides Zeus with immediate access to Newmont’s Morocco exploration database and Morocco regional framework study, representing years of systematic regional work across the Anti-Atlas and Central Meseta regions – globally recognised for their gold, base metal, and critical mineral potential.
Zeus’ flagship Casablanca Antimony Project, located in central Morocco, covers six granted licences over a combined 79km2 area. The project features multiple historical and recent artisanal workings and has returned rock chip samples up to 46.52% antimony.
Geochemical and sampling coverage, digital geology and structural interpretations, as well as mineral occurrence records and associated databases and technical reports are all included in the database.
Zeus, which has a market capitalisation of $10.76 million, says this comprehensive compilation represents a detailed study of the Anti-Atlas metallogenic belt and provides a robust platform for advanced regional targeting and project generation.
As part of the five-year non-exclusive deal, if Zeus acquires any direct and indirect interest in the property located wholly or within the regions, Newmont will be granted a 1% net smelter return royalty on any of the acquired properties.
Executive Director Hugh Pilgrim says this positions the company to rapidly assess towards areas with the greatest discovery potential.
Australia’s mining sector directly contributes to Morocco’s trade balance and plays a role in socioeconomic development, including in isolated regions. The sector accounts for up to 10% of Morocco’s gross domestic production and around 30% of total exports, as reported by Austrade.
Phosphate mining is the largest contributor to the sector, with Morocco having 70% of the world’s phosphate reserve. The country also has significant reserves of cobalt, tin, and smaller deposits of other minerals and metals.
Zeus Resources is a mineral explorer focused on discovering and developing critical mineral assets in under-explored jurisdictions that have the potential to rapidly create value.
Write to Aaliyah Rogan at Mining.com.au
Images: Zeus Resources
