Zodiac Gold Announces Positive Initial Phase II D rill Results , Including 9.14 m at 4.20 g/t Au and 10.20 m at 1.23 g/t Au, I ncluding 2.81 m at 2.95 g/t Au
Zodiac Gold Announces Positive Initial Phase II D rill Results , Including 9.14 m at 4.20 g/t Au and 10.20 m at
1.23 g/t Au, I ncluding 2.81 m at 2.95 g/t Au
Toronto, ON , February 28, 202 4 - Zodiac Gold Inc. (“ Zodiac Gold ” or the “ Company ”) (TSX.V: ZAU ) i s pleased
to report positive initial results from its Phase II Drill Program consisting of assay results from three recently
completed diamond drill holes at the Company’s Arthington Target .
The Arthington Target is posiƟoned within an 18.5 km long district - scale mineralizaƟon trend and is one of the
five high - priority, mulƟ - kilometer drill - ready targets situated within the 2,316 km 2 Todi gold project (the “ Todi
Project ”) l ocated in the Republic of Liberia, West Africa. In 2022, the Company completed a 3,465m Phase I
Drill Program targeƟng an 800m strike at Arthington which intersected mulƟple intervals of gold mineralizaƟon
in 20 of 22 holes including the highest - grade interval drilled to date: AD007 , which intersected 7.5 g/t over
9.65m from 87.35m.
Phase II Drill Program Initial Results
T he Company is currently conducƟng a 2, 000m Phase II Drill Program at Arthington targeƟng Garang Base, Red
Hill, & Deep Mine. Today, the Company is pleased to report assay results from an iniƟal three drill holes (ADD23,
ADD24, & ADD25) which successfully intercepted multiple intervals of shear zone - hosted gold mineralization
enlarging the known mineralization footprint from Red Hill to 400 meters southeast towards the Garang Base
target (See Figure - 1).
Figure - 1: M ap showing significant i ntercepts at Red Hill and Garang Base zones of the Arthington Target
These t hree initial drill holes ( see below ) revealed shear - hosted gold mineralization with intercepts cutting
through multiple shallowly dipping mineralized zones associated with shears across a 300m wide corridor of
the Arthington Shear Zone. This extensive gold bearing zone spans at least 1, 000 m along strike and reaches
vertical depths of 140m , illustrating a substantial orogenic gold footprint along the prominent Todi Shear
Zone system. Notable mineralized shear structures include intervals in h ole ADD24, with 25. 9 m averaging
2.10 g/t Au, including 9. 14 m at 4.20 g/t Au, and 10. 20 m at 1.23 g/t Au, including 2. 81 m at 2.95 g/t Au. The
continuity of mineralization is highlighted by three distinct intervals in hole ADD23, ADD24 and ADD25 which
underscore the significant potential of the Arthington Target and the Todi Project overall .
Management Commentary
David Kol, President & CEO of Zodiac Gold, stated “These initial Phase II results are very positive and d rilling
to date has only scratched the surface of our vast land package . Arthington has delivered some significant
gold intercepts thus far and with each drill hole, its potential continues to grow . We look forward to additional
drill results from our ongoing Phase II program to further enhance the strike length and width at Arthington.”
Highlights from the initial Phase II drill program include:
Table 1 : Significant I ntercepts at the Arthington Target
Hole ID From (m) To (m) Interval (m) Average Au (g/t)
ADD023 34.00 46.00 12.00 0.59
ADD023 48.72 57.00 8.28 0.75
ADD023 115.38 118.05 2.67 3.24
ADD024 93.30 119.20 25.90 2.10
including 95.00 104.14 9.14 4.20
ADD024 76.00 86.20 10.20 1.23
including 81.00 83.81 2.81 2.95
ADD024 68.25 70.95 2.70 1.00
ADD024 133.00 135.00 2.00 1.41
ADD025 71.23 73.42 2.19 1.35
ADD025 96.00 99.00 3.00 2.85
ADD025 103.00 114.60 11.60 0.85
ADD025 170.00 180.00 10.00 0.53
Significant intersections have been determined as intervals above 0.2 g/t Au with a minimum length of 1m
and a maximum of 2m of consecutive samples below 0.2 g/t Au. Intervals are drilled rather than true
thicknesses.
Table 2 : Collar I nformaƟon for the R eported H oles
Hole ID Easting (UTM
WGS 84 29N)
Northing (UTM
WGS 84 29N) Elevation(m) Azimuth Dip(degrees) Depth(m)
ADD023 323879 722401 35 0 - 53 194.80
ADD024 323777 722423 45 25 - 52 161.35
ADD025 323674 722438 56 20 - 52 186.95
QA/ QC Protocols and Sampling Procedures
The drilling progra m at Arthington was conducted by a Fordia Eider 2000 diamond drill rig with HQ and NQ
diameter core. Core recoveries were excellent throughout the progra m approaching 100%.
Drill core was transported from the drill site to the Company’s exploration camp facility. After geological
logging, the core was cut along the long axis by a diamond saw, with half being sampled and half retained.
Core sampling was undertaken by Zodiac Gold’s Liberian exploration team, supervised by senior staff
members of the Company. All co re samples met the standards for adequate chain of custody without the
opportunity for third party access from the field to the preparation laboratory in Monrovia, L iberia, and then
onward to the SGS analytical laboratory in Ghana. Sample preparation was performed by Liberia
Geochemical Services Inc. in Monrovia. The entire core sample was dried and then crushed to 70% passing -
2 millimeters and a representative split was taken by riffle splitting. The 1, 000 g split was then pulverized up
to 85% passing - 75 micron and the required pulp mass of ~ 200 g was bagged and labelled for analysis; with
the remainder being stored. Analysis was performed by SGS at their laboratory in Ghana by fire assay with
atomic absorption finish with a 50g charge.
In addition to the laboratory's quality control program, a rigorous quality assurance and quality control
program was implemented by the Company involving the insertion of blanks, standards and duplicates to
ensure reliable assay results. Laboratory standards and QA - QC are monitored by the Company.
About Zodiac Gold
Zodiac Gold, Inc. (TSX.V:ZAU) is a West - African gold exploration company focused on its flagship Todi Project
situated in Liberia — a n underexplored , politically stable, mining - friendly jurisdiction hosting several large -
scale gold deposits . S trategically positioned along the fertile Todi Shear Zone, Zodiac Gold is developing a
district - scale gold opportunity covering a vast 2,316 km 2 land package. The project has undergone de - risking,
showcasing proven gold occurrences at both surface and depth, with five drill - ready targets and high - grade
gold intercepts .
Qualified Person
Efdal Olcer, Vice President of Exploration at Zodiac Gold, is a member of the Society of Economic Geologists,
Geological Society of London, Australian Institute of Geoscientists, the Society of Geology Applied to Mineral
Deposits, and the Turkish Association of Economics Geologists and a Qualified Person as defined by NI 43 -
101. He has reviewed and approved the technical and scientific information provided in this release.
For further information, please visit the Zodiac - Gold website at www.zodiac - gold.com or contact:
David Kol
President & CEO
info@zodiac - gold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward L ooking I nformation
This news release includes certain “forward - looking statements ” within the meaning of Canadian securities
legislation.
Forward - looking statements include predictions, projections, and forecasts and are often, but not always,
identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “forecast”,
“expect”, “potential”, “project”, “target”, “s chedule”, “budget” and “intend” and statements that an event
or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and
includes the negatives thereof. All statements other than statements of historical fac t included in this
release, including, without limitation, statements regarding the Company’s planned exploration programs
and drill programs and potential significance of results are forward - looking statements that involve various
risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those anticipated in such statements. Forward - looking
statements are based on a number of material factors and assum ptions. Important factors that could cause
actual results to differ materially from Company’s expectations include actual exploration results, changes
in project parameters as plans continue to be refined, results of future resource estimates, future metal
prices, availability of capital, and financing on acceptable terms, general economic, market or business
conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials, and
equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals,
unanticipated environmental impacts on operations and costs to remedy same, and other exploration or
other risks detailed herein and from time to time in the filings made by the Company with securities
regulators. Although the Company has attempted to identify important factors that could cause actual
actions, events, or results to differ from those described in forward - looking statements, there may be other
factors that cause such actions, ev ents, or results to differ materially from those anticipated. There can be
no assurance that forward - looking statements will prove to be accurate, and accordingly readers are
cautioned not to place undue reliance on forward - looking statements.