Potential For Pb-Zn And Cu-Pb-Ag Deposits Identified
Zeus Resources Limited (ASX: ZEU) has entered into an exclusivity agreement with Westoz Gold Pty Ltd to conduct due diligence on the Wandagee Base Metals Project in Western Australia.
The agreement will explore the potential acquisition of the Tenement from Westoz if it is granted.
The Wandagee Project is located 150 km north-east of Carnarvon, Western Australia and 45 km east of Northwest Coastal Highway on the well-maintained gravel Lyndon Road.
Zeus has identified potential for Pb-Zn and Cu-Pb-Ag deposits and for sediment-hosted base metal mineralisation in Permian sediments near the known Wandagee Fault in the Southern Carnarvon Basin.
In July 2021, FMG Resources Pty Ltd applied for tenements in respect of an approximate 31,000 km2 area surrounding the Wandagee Project.
The material terms of the Exclusivity Agreement between Zeus and Westoz are summarised as follows:
• Zeus will pay Westoz a non-refundable fee of $10,000 in consideration for a four-month exclusivity period during which Zeus will complete its due diligence investigations. The parties may extend the Exclusivity Period.
The West Australian Minister for Mines and Petroleum grants the Tenement to Westoz free from all encumbrances;
For further information please visit: https://www.zeusresources.com/