Todi Project

Overview

Zodiac Gold is the 100% owner of the Todi project in Liberia, which consists of three district scale Mineral Exploration Licenses covering an area of 2,316 sq km.

The Property is located only 13km north of Zodiac Gold´s operational office in Monrovia, the capital city of Liberia, benefiting from existing infrastructure such as roads, seaport, airport, etc.

Mines in close proximity to the Todi project are listed below and are shown on Figure 1.

 

  • New Liberty gold mine owned by Avesoro is 20km to the northwest, with a 1.8 Moz gold resource.
  • Ndablama gold mine owned by Avesoro is 30km to the north, with a 0.9 Moz gold resource.
  • Bong iron ore mine owned by China Union is adjacent to the east. Approximately 158Mt of medium to high grade iron ore was reportedly extracted between 1965 and 1990.
  • Bomi Hills iron ore mine owned by Vedanta is adjacent to the north, with historical production estimated at 50Mt high grade magnetite.

Figure 1: Location of the Todi project and nearby mines and projects

Zodiac Gold considers the Todi project, and Liberia as a whole, to be underexplored in comparison to other countries in West Africa, with strong potential for the discovery of +1 Moz gold deposits and significant iron ore deposits.

The Todi project is located on the regional scale, northwest trending Todi Shear Zone which marks the boundary between Liberian age rocks and rocks deformed during the Pan African Orogeny.

Zodiac has a strong pipeline of high priority targets, with locations shown on Figure 2.

Figure 2: Todi project targets

Previous Drilling

Phase I program

In 2022, a phase I drill program of 3,465 m was completed at the Arthington Target. Gold mineralization was discovery in 20 of 22 holes and highlights included 7.5 g/t Au over 9.6m, andand 10.60 g/t over 6m.

Drill Highlights

  • Hole ADD-007: 7.5 g/t Au over 9.65m (from 87.35m)
  • Hole ADD-004: 10.6 g/t Au over 6.0m (from 55.0m) and 0.93 g/t Au over 8.5m (from 122.5m)
  • Hole ADD-001: 4.67 g/t Au over 5.65m (from 10.25m) and 1.15 g/t Au over 6.0m (from 20.0m) Hole ADD-002: 1.10 g/t Au over 17.0m (from 60.0m)
  • Hole ADD-015 returned 1.06 g/t Au over 15.38m (from 19.62m) and 1.29 g/t Au over 4m (from 43m)
  • Hole ADD-016:0.90 g/t Au over 13.35m (from 40.65), 1.12 g/t Au over 11.64m (from 68m), and 1.02 g/t Au over 3m (from 111m)

Phase II program

In 2024, a follow up phase II program consisting of 2,092 m was completed at Arthington. The goal of the campaign was to confirm and extend mineralization along 2,400 m strike and served as a basis for a more comprehensive phase III campaign.

Drill Highlights

  • Hole ADD-024: 2.10 g/t Au over 25.90m (from 93.3m) including 4.20 g/t Au over 9.10m and 1.23 g/t Au over 10.20m (from 76.00m)
  • Hole ADD-027: 1.33 g/t Au over 14.67m (from 136.33m) including 4,38 g/t Au over 3.00m
  • Hole ADD-028: 1.28 g/t Au over 11.00m (from 195.0m)

Iron Ore

Through a recent data compilation and review, Zodiac Gold has discovered significant iron ore potential within its Mineral Exploration Licenses, adding significant value and depth to the company´s pipeline of high priority targets. Highlights are as follows:

 

  • West Peak Iron identified 7 target areas (Figure 3) and USGS mapping shows the extension of units including iron-rich intervals for a distance of over 65km from the Bong iron ore mine to the east of the Todi project.
  • Historical inferred mineral resource of 1Mt at 36.36% in Areas 4 and 6, the only targets drilled to date (West Peak Iron, 2014).
  • West Peak Iron trench results include 85m at 36.71% Fe in Area 7, and 56m at 35.41% Fe and 22m at 34.19% Fe in Area 1.
  • Selected West Peak Iron rock chip results include 87% Fe (DSO magnetite), 59.04% Fe (DSO hematite cap), 42.18% Fe (soft itabirite) and 51.08% Fe detrital iron (Area 3 and Area 7).

Figure 3: West Peak Iron target areas on the vertical integral of the analytic signal aeromagnetic image (West Peak Iron, 2012)