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Nickelx Ltd ( (AU:SMX) ) has issued an update.
Strata Minerals reported strong maiden drilling results at its Zelica Gold Project for the March 2026 quarter, with 22 of 23 RC holes intersecting significant shallow oxide gold over a roughly 1km strike that remains open at depth and along strike. The program confirmed continuity of a main lode and a hanging-wall lode, highlighted potential for parallel shear zones and stacked lodes, and underpinned the launch of a Phase 2 RC campaign targeting depth extensions and infill drilling to support a maiden JORC mineral resource.
The company also completed the 100% acquisition of the Zelica South Project, consolidating an approximately 8km gold-mineralised corridor and adding the Murphy Well 2 and 3 prospects to its landholding, where historical high-grade results remain largely untested by modern drilling. With fieldwork underway at Zelica South, a quarter-end cash balance of A$1.14 million, and A$1.57 million in firm placement commitments to fund exploration, Strata is strengthening its project pipeline and positioning itself for potential resource growth and future development options in the Eastern Goldfields region.
More about Nickelx Ltd
Strata Minerals Limited is an Australian gold exploration company focused on the Zelica and Zelica South projects in Western Australia’s Eastern Goldfields. The company is targeting shear-hosted gold mineralisation along a now 10km mineralised corridor within trucking distance of existing processing mills, aiming to progress a low-capex development pathway on a granted mining licence.
Average Trading Volume: 571,844
Technical Sentiment Signal: Sell
Current Market Cap: A$7.71M
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