Zeus Resources Limited (ASX: ZEU) has announced the successful completion of its acquisition of the Casablanca Antimony Project in central Morocco. Zeus Resources is a dynamic mineral exploration company focused on identifying and developing early-stage, high-grade critical mineral assets. The acquisition follows satisfactory completion of due diligence and fulfilment of all conditions precedent, marking a significant milestone for the company.
During the due diligence process, Zeus collected rock chip samples that returned exceptionally high-grade antimony results, ranging from 7.8% to 46.52% antimony (Sb) across twenty primary samples. These samples, taken from stibnite-bearing quartz veins across the southern license area, highlight the significant potential of the Casablanca Antimony Project. The surface mineralisation has been mapped along a strike length exceeding 4km, further indicating strong district potential.
To support the project’s advancement, Zeus has established a Moroccan support team through Ashgill Morocco. The company is also progressing with permitting for a trenching program designed to test the high-grade surface mineralisation at Casablanca. Further details on the trenching program, including locations, scope, and timing, will be provided once approvals are secured and the program is finalised.
As consideration for the acquisition, Zeus has issued 62,500,000 fully paid ordinary shares and 12,000,000 performance rights to the vendor, Ashgill Morocco Limited. Chairman Alvin Tan expressed his enthusiasm, stating that the due diligence process confirmed the positive view of the project portfolio, and that Zeus looks forward to expediting targeted fieldwork in partnership with Ashgill.
