Zenith Minerals Limited announced that it has defined a new Ni-Cu-PGE drill target within the Waratah Well project in Western Australia. The project is part of the Zenith Lithium Joint Venture with EV Metals Group. A new Ni-Cu-PGE drill target has been identified by Zenith's technical team as part of a holistic approach to exploration on the Waratah Well project area.

The target is defined by a strong Ni-Cu-PGE surface soil anomaly with coincident EM bedrock conductors, hosted within a mafic-ultramafic intrusion. The intrusion is also the host to lithium rich pegmatites that are the focus of exploration at Waratah Well. The Waratah Well Project is located approximately 20km northwest of the regional town of Yalgoo in the Murchison Region of Western Australia and is being explored as part of the Zenith Lithium Joint Venture with EV Metals Group.

Ni and Cu form part of the battery minerals suite that are included in the joint venture, with PGE's being retained 100% by Zenith. The Waratah Well project area lies immediately adjacent to the West Yilgarn Ni-Cu-PGE province that is host to Chalice Mining Ltd. Gonneville PGE-Ni-Cu-Co-PGE deposit. At Waratah Well a layered mafic - ultramafic intrusive (comprising leucogabbro-norite grading into gabbronorite, anorthosite and leuconorite as well gabbro and minor pyroxenite, basalt and ultramafic schists) crops out over an area approximately 10km x 4.5km, extending under alluvial cover to the northeast and southwest.

Primary igneous layering in the prospect area dips shallowly to the south. Soil geochemical samples, originally collected for lithium exploration, were re-analysed for Ni-Cu and PGE's. This work defined a strong soil geochemical anomaly at the western end of the mafic-ultramafic intrusive outcrop, before being obscured to the west by alluvium cover. The anomaly has broad Ni anomalism (>100ppm Ni) extending over an area 1km x 0.5km with a peak value of 186ppm Ni.

The Cu anomaly extends over an area 1km x 0.25km (>100ppm Cu) peak value 290 ppm Cu, whilst PGE anomaly is 1km x 0.1 to 0.2km in width defined by the >50ppb Pt+Pd with a 112ppb Pt+Pd peak. Moving loop EM geophysical surveying was chosen as an appropriate tool to assess the area of the geochemical anomaly for bedrock EM conductors that may indicate subsurface accumulations of Ni-Cu sulphides. Surveying has recently been completed, identifying a strong shallow south dipping conductive response in the preliminary data that is coincident with the Ni-Cu-PGE geochemical anomaly.

Final geophysical data processing and interpretation will be completed prior to drilling.