Zeus Resources: Unlocking Morocco’s High-grade Antimony in a Tightening Supply Market

Zeus Resources (ASX:ZEU,FSE:ZEU) is a mineral exploration company dedicated to advancing high-grade critical mineral projects in underexplored regions. Its primary focus is the 100-percent-owned Casablanca antimony project in Morocco, while also maintaining exploration interests in uranium, lithium and rare earth elements across Australia.

Targeting Europe’s industrial and defence supply chains, Zeus is leveraging Morocco’s efficient permitting environment to fast-track development. In July 2025, Zeus completed its acquisition of Casablanca and immediately initiated a high-resolution geophysics program. The company aims to progress from reconnaissance to drilling within months, capitalising on record-high antimony prices and tightening Western supply chains. The Casablanca project represents one of the few high-grade antimony exposures outside China.

Zeus also strengthened its Moroccan strategy through a five-year, non-exclusive license agreement with Newmont, covering its Morocco exploration database and regional framework study across the Anti-Atlas and Central Meseta regions. The database integrates geochemical, geophysical and structural datasets, providing Zeus with a competitive advantage in prospectivity analysis and target generation. Key terms include a 1 percent NSR royalty on any properties Zeus acquires in these regions and a 15-year right of first refusal for Newmont on transfers. The agreement streamlines project identification, reduces early-stage risk and positions Zeus to efficiently expand its Moroccan footprint.

Company Highlights

Casablanca Antimony Project: Six exploration licenses over 79 sq km in central Morocco. Surface sampling during due diligence returned astonishing results: up to 61.9 percent antimony, with additional samples ranging 7.8 to 46.52 percent antimony along a mapped strike exceeding 4 km
Strategic Location for Supply Security: Morocco is a long-standing antimony producer with historic supply to Europe, ranking 19th globally on the Fraser Institute’s mining jurisdiction index- – on par with Western Australia.
Rapid Advancement Exploration Model: Geophysics survey underway within weeks of licence acquisition, trenching program planned, and drill commencement targeted for early Q4 2025.
Favourable Market Dynamics: Antimony prices have quadrupled since early 2024 to ~US$55,000/t amid tightening global supply and rising demand from defence, electronics and renewable energy sectors.
Strategic Advisory Firepower: Former US Ambassador Christopher Dell has joined as US business and strategic development advisor aiming to leverage his extensive diplomatic experience and proven negotiation skills to facilitate Zeus navigate capital-raising, geopolitical positioning and partnerships aligned with Western critical minerals policy
Strategic Data Access: Access to Newmont’s Morocco exploration database and framework study strengthens Zeus’s ability to fast-track target generation and expand its Moroccan footprint
Lean Valuation, Clear Milestones: Market capitalization sits around AU$9 to AU$13 million, offering early-stage leverage if exploration success continues.