By: Zawya

ASX-listed Zeus Resources has acquired full ownership of the Casablanca Antimony Project in central Morocco, the company said in a stock exchange statement.

The project, secured via an option agreement with Ashgill Morocco, comprises six exploration licenses.

The acquisition terms include:

• 62.5 million Zeus shares (50 per cent under a 6-month escrow)
• 12 million performance rights
• An introducer fee of 72.52 million options (0.02 Australian dollars exercise price, expiring December 12, 2027) issued to Janus Capital

As part of its due diligence process, the Company ran a rock chip programme the samples of which returned exceptional surface high-grade antimony results ranging from 7.8 percent to 46.52 percent Sb across 20 primary samples.

The surface mineralisation has been mapped along a strike length exceeding 4km, indicating strong district potential, the statement said. It said a trenching programme is being planned to assess high-grade surface mineralisation, while permitting processes are underway in collaboration with Ashgill’s local team.

According to the Zeus statement, the acquisition aligns with its strategy to secure high-grade, under-explored critical mineral assets in politically stable jurisdictions. Morocco’s modern mining code and favourable investment climate position it as an attractive destination for exploration activity.

(Writing by Majda Muhsen; Editing by Anoop Menon)
(anoop.menon@lseg.com)

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