Zodiac Gold Granted License Renew al for its Flagship Todi Property and Complet es Phase II Drill Program
Zodiac Gold Granted License Renew al for its Flagship Todi Property and Complet es Phase II Drill
Program
Toronto, ON , April 16 , 2024 - Zodiac Gold Inc. (“ Zodiac Gold ” or the “ Company ”) (TSX.V: ZAU ) i s pleased
to announce it has successfully renewed it s m ineral e xploration license MEL 9000118 for its Todi project
through the Ministry of Mines and Energy , Republic of Liberia . The renewal extends the license until
April 2025 . MEL 9000118 covers a total area of 418.5 sq km and is located 20km from the capital city of
Monrovia. With this renewal, Zodiac Gold is positioned to launch a 10,000 - meter drill program to further
define its Arthington target and test its other drill ready targets.
Figure 1 : Location M ap for Todi Project L and P ackage
Drilling Update
Zodiac Gold ’s P hase II drill program consisted of 2 , 092 m of diamond drilling over 10 drill holes, focusing
on drilling in the Garangbase, Deep Mine, Ambulai and Red Hill zones of its Todi Project . Zodiac Gold
specifically target ed previously untested zones from near surface to deeper mineralized zones (greater
than 180m depth) . Zodiac Gold has now drill test ed a substantial strike length spanning approximately
2,400 meters along the 300 - meter wide Arthington shear zone.
The d rill holes from the Phase II program were laid out to intersect, map and model the extensions of
shear structures, down dip of mineralization observed along the trenches and artisanal mining pits from
surface, with the intention of intersecting gold mineralization , a goal which Zodiac Gold has successfully
accomplished from the results received to date .
All of the drill cores from Zodiac Gold’s Phase II Program have been logged and i ntervals of core have been
sampled. The core w as sawed lengthwise, with one half bagged and sent to an independent lab for
analyses, and one half retained for further inspection. On February 29, 2024, Zodiac Gold reported
positive initial Phase II drill results from holes ADD023, ADD024 and ADD025 highlighting 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. Subsequently, on April 9, 2024, Zodiac
Gold reported a second round of positive Phase II drill results from holes ADD026, ADD027 and ADD028
highlighting 14.67m at 1. 33 g/t Au including 3.00 m at 4.38 g/t Au and 11.00 m at 1.28 g/t Au. Assay results
for a final tranche of four drillholes (ADD029, ADD030, ADD031, ADD032) are pending.
Figure 2: Todi Project – Arthington Target, Drill Collar Plan View with S ignificant Gold Intercepts
Management Commentary
David Kol, President & CEO of Zodiac Gold commented , “We are thrilled to announce the successful
renewal of our Todi Mineral Exploration license and the completion of our Phase II drill program. The
successful renewal of our license underscores the confidence and support of the Ministry of Mines and
Energy, Republic of Liberia, in our vision and capabilities. With this renewed mandate, we are poised to
continue our exploration activities , aiming to further delineate our targets and uncover the full potential
of the Todi Project. Our Phase II drill program has yielded promising results, demonstrating the
significant miner alization potential of the Arthington target and other zones within the Todi Project.
These results validate our geological model by proving out the depth and extension of the Todi Shear
Zone while a lso highlight ing the prospectivity of our project area. ”
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 assumptions. 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 economi c, 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
envir onmental 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 fact ors 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, events, or results to differ materially from those anticipated. There can
be no assura nce that forward - looking statements will prove to be accurate, and accordingly readers are
cautioned not to place undue reliance on forward - looking statements.