Strata Minerals Broadens Zelica Gold Project with New Tenement Acquisition and Extensive Aeromagnetic Survey

Strategic Tenement Acquisition Enhances Zelica Project Landholding

Strata Minerals has signed a binding Heads of Agreement to acquire Exploration Licence E39/2491 from Shane Baxter, an unrelated party, for A$25,000 cash upon completion. This acquisition is subject to standard conditions precedent typical for such agreements. Additionally, the company has staked Exploration Licence application E39/2606, further expanding its land position. Together, these tenements represent a strategic, cost-effective expansion of Strata's contiguous control over the Zelica Gold System, boosting district-scale exploration potential across the region.

Managing Director Peter Woods highlighted that this expansion reflects confidence in the geology and gold prospectivity of the enlarged project area. The increased landholding combined with the upcoming geophysical survey enables systematic testing of a larger portion of the mineralised corridor. This strategy aligns with Strata’s broader development plan, including collaboration with BML Ventures to advance pre-development activities while continuing exploration.

Comprehensive High-Resolution Aeromagnetic Survey to Drive Exploration

Strata Minerals has contracted MAGSPEC Surveys Pty Ltd to conduct a detailed high-resolution airborne aeromagnetic survey over the expanded Zelica Gold Project. Scheduled for completion by end of July 2026, the survey will cover approximately 27.8 square kilometres at 50-metre line spacing. This will be the first consistent, high-resolution magnetic dataset across the expanded area, with much of the project previously lacking modern airborne geophysical coverage. The survey aims to establish a geophysical framework to enhance understanding of subsurface geology beneath transported cover and identify structures likely to host additional gold mineralisation.

The aeromagnetic data will be integrated with recent drilling, geological mapping, and surface geochemical datasets to refine geological and structural interpretations. This approach will allow mapping of lithological contacts, faults, shear zones, and intrusive bodies beneath cover, improving insight into gold mineralisation controls. Results will prioritise existing targets, reveal new exploration opportunities, and guide future drilling across the 9.5-kilometre Zelica gold corridor and broader project area, enhancing exploration efficiency and accelerating discovery.

Confirmed Shallow Gold Mineralisation Along 1-Kilometre Strike

Recent drilling at Zelica has validated a shallow oxide gold mineralisation system extending about 1 kilometre along strike on mining licence M39/1101, which is under a tribute mining agreement with BML Ventures. This mineralisation remains open at depth and along strike, indicating significant growth potential. The shallow nature supports lower capital expenditure development scenarios and faster production pathways, attracting BML Ventures’ partnership for pre-development support. Strata is actively drilling to expand the high-grade system and increase resources.

Managing Director Peter Woods noted that less than 15% of the 9.5-kilometre gold corridor has been systematically tested, highlighting substantial untested prospectivity. The combination of confirmed shallow mineralisation and a largely unexplored corridor offers an attractive risk-reward profile. The upcoming aeromagnetic survey aims to identify additional drill targets along this corridor, potentially unlocking further high-grade mineralisation at depth and along strike.

Prime Location Within Western Australia’s Yundamindra District

The Zelica Gold Project is situated in the highly prospective Yundamindra District of Western Australia, positioned between the major gold hubs of Leonora and Laverton. This advantageous location provides access to infrastructure and mining services. The project lies near multiple gold deposits exceeding one million ounces and several processing mills within roughly 50 kilometres. Proximity to established mining infrastructure and skilled labor supports a potentially low-capital development path and enhances economic viability.

The Yundamindra District is a well-established gold-producing region with a history of successful exploration and mining. Strata’s Zelica project benefits from this mining culture and infrastructure, facilitating rapid commercialisation of discoveries. Strata’s portfolio, including Penny South and Biranup projects, demonstrates its strategic focus on high-potential gold assets in world-class Western Australian jurisdictions, reflecting disciplined risk management and capital allocation.

Partnership with BML Ventures Enables Capital-Efficient Development

Strata Minerals has partnered with BML Ventures to accelerate development at Zelica via a capital-light approach to near-term gold production. This partnership leverages BML Ventures’ funding, development, and mining expertise, allowing Strata to concentrate on exploration. The mining licence M39/1101 is subject to a tribute mining agreement with BML Ventures, defining commercial terms. This arrangement enables concurrent exploration expansion and pre-development progress, optimizing capital use and reducing execution risk transitioning from exploration to production.

By engaging a dedicated development partner, Strata maintains exploration focus while BML Ventures advances the project towards production, alleviating balance sheet pressure and enabling capital deployment across its portfolio. Pre-development activities are actively progressing, indicating methodical advancement toward commercialisation alongside ongoing exploration.

Exploration Strategy Across the Expanded 9.5-Kilometre Gold Corridor

The Zelica Gold Project covers a highly prospective 9.5-kilometre mineralised corridor with limited prior exploration before Strata’s involvement. Recent drilling has tested less than 15% of this corridor, which hosts a gold system extending beyond the currently defined 1-kilometre shallow oxide mineralisation strike, with untested potential at depth and along strike. The upcoming aeromagnetic survey is designed to identify and prioritise new drill targets across this corridor, enabling systematic testing of the full mineralised system.

Managing Director Peter Woods emphasized that the high-resolution magnetic survey will enhance understanding of geological and structural controls on gold mineralisation. Integrated with drilling, mapping, and geochemical data, the survey will refine targets and identify new priority opportunities, supporting an efficient, data-driven exploration approach. This measured methodology aims to reduce risk and improve confidence in drill target selection before subsequent drilling phases.

Cost-Effective Land Expansion with Favorable Financial Terms

The acquisition of Exploration Licence E39/2491 was completed at a low cost, with Strata agreeing to pay A$25,000 cash upon completion to unrelated party Shane Baxter. This capital-efficient transaction expands Strata’s landholding and exploration footprint within the Zelica Gold System. Combined with the staking of Exploration Licence application E39/2606, which involves only standard fees, the total cost of expansion remains minimal relative to the potential exploration upside.

This cost-conscious approach aligns with Strata’s broader strategy of acquiring and developing mineral projects efficiently. Securing additional tenure at low cost while advancing pre-development with BML Ventures allows pursuit of dual growth strategies without materially impacting the company’s financial position. Although the company has not disclosed cash reserves or burn rate, its ability to fund the acquisition and survey while maintaining exploration and pre-development activities suggests a sustainable financial status. Investors should monitor quarterly and annual ASX filings for updates on funding.

Projected Timeline for Aeromagnetic Survey Completion

The aeromagnetic survey is expected to be completed by the end of July 2026, with MAGSPEC Surveys mobilizing promptly. Covering approximately 27.8 square kilometres at 50-metre line spacing, the survey reflects a thorough and modern exploration standard. The rapid timeline underscores the priority placed on acquiring high-quality geophysical data as a key milestone in the Zelica project’s development.

After data acquisition and processing, Strata will integrate the aeromagnetic results with existing drilling, geological, and geochemical data. Although the exact timing of data release and interpretation is not disclosed, investors can anticipate preliminary results within weeks to months post-survey. These findings may drive significant news flow and refine the company’s drill targeting strategy, potentially acting as catalysts for share price movement.

District-Scale Exploration Focus and Long-Term Development Vision

Strata Minerals’ strategy for Zelica emphasizes district-scale exploration, systematically testing a large mineralised corridor rather than narrow, high-risk deep drilling. This reduces exploration risk by targeting near-surface, accessible zones conducive to cost-effective development. Full ownership of Zelica grants operational control and strategic flexibility in exploration and development sequencing. The partnership with BML Ventures introduces commercial development expertise while preserving Strata’s exploration upside.

Strata’s broader portfolio, including Penny South and Biranup projects, reflects a diversified approach to gold exploration in proven Western Australian districts. This diversification spreads risk and capital across assets at varying development stages. Zelica stands as the most advanced asset, featuring confirmed mineralisation, a mining licence, and active development partnership. The company’s systematic exploration approach positions Zelica as a near-term development candidate while maintaining optionality for long-term growth. Near-term value creation will depend on successful resource expansion and progress by BML Ventures in advancing pre-development activities toward production.