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Microcap gold explorer Zuleika Gold (ASX:ZAG) has today formalised its first mineral resource estimate at its flagship project’s Paradigm East deposit in a “significant step” in the company’s regional exploration strategy.
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Zuleika’s maiden inferred MRE at Paradigm East came in at 288,000 tonnes at 1.36 grams per tonne gold, and containing 12,600 ounces gold.
That CY26 estimate – prepared by Ashmore Advisory Pty Ltd – utilised a 0.5 grams per tonne gold cut-off grade and was delivered under JORC Code 2012 standards. The report was split into 115,000 tonnes at 1.61 grams per tonne oxide, 91K tonnes at 1.37g/t transitional, and 83K at 1.01g/t fresh.
Between this Paradigm East haul from January and Credo Well’s count, the total combined resources at Zuleika’s project now stands at 577K tonnes at 1.9g/t gold, representing as much as 35,200 ounces of gold.
Mineralisation at Paradigm East is orogenic, hosted in a 2.5-kilometre east-west structural corridor that also includes the Carbine and Paradigm deposits.
It’s here – and across the Zuleika project – that the Aussie company will now look to build on over the next months. First up, the explorer wants to improve its resource classification and test for extensions, chair Annie Guo said.
“With further drilling in CY26, [both] Credo and Paradigm East’s resources are expected to increase further from the current 35.2K ounces, and we expect significant progress towards securing mining leases and potentially securing treatment arrangements with one of the local processing facilities,” she explained.
A “thorough” review of all the Paradigm East drilling data already hauled in on-site, as well as other advanced prospects, is already underway now.
“[We have] a view to progress resource development work and regional exploration to further demonstrate the regional prospectivity and the resources potential in our 100% owned tenure,” Ms Guo said today.
ZAG shares will head into Wednesday at 5.2c/ea.
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