Zeus Resources Limited announced that the company has received assay results from exploration drilling at its Mortimer Hills Project (E09/2147) conducted in December 2021. Field work conducted during fourth quarter of 2021 comprised detailed geological mapping and rock chip sampling and completion of 22 reverse circulation (RC) drillholes at the Reid Well Base Metal Prospect. The Reid Well Prospect comprises a series of copper-galena bearing lenses hosted within predominantly chlorite-schists of the Morrissey Metamorphic Suite. These metasediments are strongly deformed by the Ti-Tree shear zone, an outlier of the Bangemall Basin to the north. The degree of shearing becomes progressively more intense northwards towards the core of the Ti- Tree shear zone which is marked by a line of slates/black shales. Intense shearing has largely destroyed original rock textures making identification of the protolith difficult. More competent rock units within the vicinity of the Reid Well Prospect have been extensively sheared
and boudinaged. These units comprise predominantly conglomerates and sandstones along with subordinate granitoids and minor pegmatites. Large sigmoidal lenses of dolomite also occur along strike. Mineralised exhalative barite lenses are hosted within a zone of chlorite schist with subordinate zones of biotite-garnet schist. These schists are juxtaposed against outcrops of high-strain quartz pebble conglomerates (with pebbles strongly elongated and deformed into rods and pancakes) and minor psammites/sandstones. Relict cross-bedding suggests the stratigraphy is overturned to the north. The regional shear fabric was originally thought to be sub-vertical however drilling indicated that mineralised barite zones dip ~ 45 degrees to the south. Metasediments of the MMS have subsequently been intruded by granitoids of the prospective Thirty- Three Supersuite (TTSS) immediately to the south of the Prospect. Evidence of contact metamorphism occurs along the margins of the granite along with extensive quartz vein and subordinate intrusion of pegmatites into the surrounding country rocks. Localised lenses of dolomites were mapped within close proximity to the TTSS suggesting the potential for skarn mineralisation. Malachite development was also observed at one location along the margins of a pegmatite-quartz vein. Reid Well Base Metal Prospect: Barite-copper-galena mineralisation at Reid Well was first recognised by AGIP Nucleare Australia Pty Ltd. ("AGIP") during the 1974 to 1977 period. AGIP conducted rock chip sampling, limited trenching, and shallow percussion drilling. Zeus relocated the historical occurrence in 2015 and has subsequently conducted follow up mapping and sampling with assay results up to 13% Cu, 2.95% Pb & 128ppm Ag. Initial geological mapping defined a main mineralised zone forming an elongate exhalative lens some 2-3m thick within a quartz-biotite-chlorite-sericite schist +/- garnet, tourmaline, and magnetite zone within the Morrissey Metamorphic Suite. Disseminated copper mineralisation, in the form of malachite, azurite and chalcocite outcropped for over ~100m along strike length before disappearing under cover to the northwest and southeast. Prior to drilling, detailed mapping conducted on site defined a further four exhalative barite lenses showing indications of copper mineralisation, extending the known strike length to over 300m. Mapping indicates the deposit is highly sheared with more competent barite lenses boudinaged and forming elongate lobes, stringers, and pods. A total of 18 rock chip samples were taken along the mapped lenses. Assay results are still outstanding at the time of writing. 22 RC drillholes were completed for a total of 1,598m drill advance on the Reid Well Base-Metals Prospect. Approximately half of these holes targeted the main mineralised zone defined by previous mapping and rock chip sampling with additional drilling targeting mineralised extensions beneath cover along strike to the southeast and northwest. One drillhole (ZRC010) was designed as a scissor hole to confirm the orientation of the mineralised target and due to the dip of this horizon was drilled sub-parallel to mineralisation. This hole encountered the higher grades within drilling and was terminated beyond planned depth still in mineralisation.