Strata Minerals Details BML-Funded De-Risking Programs Ahead of Zelica Mine Decision
Strata Minerals accelerates Zelica Gold Project toward development with BML-funded work programs
Strata Minerals (ASX: SMX) is advancing multiple pre-development workstreams in parallel at its 100%-owned Zelica Gold Project in Western Australia. These programs are funded by BML Ventures under the recently executed Mining Services and Profit Share Agreement, representing a systematic de-risking step supporting a potential decision to proceed to development under a capital-light pathway to near-term gold production. The company announced on 5 August 2026 that four parallel program streams—metallurgical, environmental, geological and engineering—are progressing as planned at the project in the Yundamindra District, located between Leonora and Laverton.
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What’s underway at Zelica right now
Strata has commenced an integrated suite of technical programs designed to strengthen data for mine design, processing evaluation, permitting and operational planning. The workstreams span metallurgical sampling and test work, geological mapping and structural interpretation, petrological and geochemical investigations, waste rock and soil characterisation, environmental baseline data collection, and engineering support studies.
| Workstream | Purpose | Status |
|---|---|---|
| Metallurgical test work | Processing design and mine planning | Field sampling completed, test work planned |
| Waste rock characterisation | Waste management, landform design and rehabilitation | Completed |
| Soil characterisation fieldwork | Rehabilitation planning and regulatory approvals | Completed |
| High-resolution aeromagnetic survey | Refine drill targets across prospective corridor | Completed, data processing over coming weeks |
| Geological/petrological/geochemical studies | Resource and processing evaluation | Underway |
Managing Director Peter Woods
“The breadth of technical work now underway at Zelica demonstrates our commitment to rapidly and systematically advancing the Zelica Project toward development. Since partnering with BML Ventures, we’ve commenced multiple workstreams spanning metallurgy, environmental studies, geological interpretation and engineering support. These programs will provide key technical inputs for development planning while reducing technical uncertainty.”
“Further exploration across the broader Zelica Project area is progressing in parallel with the pre-development activities with the high-resolution magnetic survey across the broader Zelica tenure now complete, which will assist with refining high-priority drill targets across the prospective 10km gold corridor.”
Understanding pre-development de-risking — why this matters for investors
Pre-development workstreams are technical studies an exploration company runs before committing to build a mine. These programs convert geological potential into a permittable, buildable project by answering critical questions about how the deposit will perform in practice. Metallurgical test work determines whether gold can be economically recovered from the ore and informs processing design. Waste rock and soil characterisation supports environmental and rehabilitation planning required for permitting approvals. Geological and structural modelling refines understanding of where the gold sits, improving mine planning accuracy.
For investors, these studies reduce technical uncertainty ahead of a development decision. Rather than proceeding on geological data alone, the company builds a comprehensive technical foundation covering metallurgy, environmental compliance, engineering feasibility and operational planning. This systematic approach strengthens the project’s development pathway whilst managing risk.
The de-risking building blocks:
- Metallurgy — proves recovery rates and informs processing design
- Waste rock and soil — supports permitting, landform design and rehabilitation strategies
- Geological and structural modelling — sharpens mine planning and resource evaluation
- Aeromagnetic data — refines drill targets across the ~9.5km mineralised corridor
Sampling depth and technical detail
Strata’s metallurgical sampling program captured material across oxide, transitional and fresh weathering profiles expected during mining. Oxide material was sourced from the historic low-grade stockpile, transitional samples from both the historic pit and recent reverse circulation (RC) drilling, and fresh material from RC drilling. The majority of samples were sourced from the main mineralised lode, with final composites to be selected once all assay results are received.
Metallurgical sampling coverage:
- Samples captured across oxide, transitional and fresh weathering profiles
- Oxide from historic low-grade stockpile; transitional from historic pit and recent RC drilling; fresh from RC drilling
- Majority sourced from the main mineralised lode
- Final composites selected once all assay results received
Waste rock and soil programs:
- Waste rock samples from hanging wall, footwall, ore-associated material, historic dump and low-grade stockpile
- Emerson dispersion testing to assess material handling, landform design and rehabilitation
- Soil profiles sampled and photographed across each horizon to support topsoil management and mine closure planning
The waste rock characterisation program sourced material from both recent RC drilling and exposures within the historic pit, providing comprehensive coverage over the length, width and depth of the proposed mining area. Soil characterisation fieldwork was completed across multiple locations, with representative samples collected from each soil horizon and photographic records taken to support environmental and rehabilitation planning.
The investment case and Zelica’s development pathway
The BML Ventures partnership provides a capital-light pathway by funding these pre-development programs, preserving Strata’s balance sheet whilst advancing toward potential near-term production. Zelica benefits from project quality fundamentals: a granted mining licence (not exploration tenure), approximately ~1km strike of shallow oxide gold mineralisation open at depth and along strike, and location within approximately ~50km of multiple +1Moz gold deposits and several processing mills.
The broader project area presents significant upside across a ~9.5km mineralised corridor that has seen minimal meaningful exploration prior to Strata’s acquisition. The project is located in the highly prospective Yundamindra District between the major gold mining centres of Leonora and Laverton, benefiting from excellent infrastructure access.
Key project metrics:
- Granted mining licence
- ~1km confirmed shallow oxide strike (open at depth and along strike)
- ~50km to multiple +1Moz deposits and processing mills
- ~9.5km prospective mineralised corridor
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What’s next for Strata shareholders
Over the coming months, Strata expects to progress a comprehensive roadmap of technical, regulatory and exploration activities:
- Metallurgical test work and laboratory analysis
- Environmental baseline and approval studies
- Engineering and mine planning activities
- Permitting and regulatory support work
- Processing aeromagnetic data and refining high-priority drill targets
- Advancing a maiden JORC-compliant Mineral Resource Estimate
- Continued exploration across the ~9.5km gold corridor
These workstreams collectively build Zelica’s technical foundation toward an informed development decision alongside BML Ventures. The outcomes from these programs will be progressively incorporated into ongoing geological, engineering and environmental assessments, strengthening the project’s development pathway whilst reducing technical uncertainty.
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