Zodiac Gold Finds New Targets Beyond Monterra Trend

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1. Disclosure for the quote from the Stewart Thomson article published on May 20, 2026

1. For the quoted article (May 20, 2026), Zodiac Gold Inc. has paid Street Smart, an affiliate of Streetwise Reports, US$3,500.
2. Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts.  The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Key Takeaways

• Zodiac Gold reported new trenching results at its Todi gold project in Liberia, including 23 m (meters) at 0.68 g/t Au (gold) in trench FFT002 at the Feh Feh target. This 23 m interval included a higher-grade zone of 12 m at 1.16 g/t Au, with 1 m at 8.28 g/t Au.
• New hard rock artisanal workings were found at Gbolomine, ~800 m south of the Lewis target, channel sampling returned 5 m at 1.54 g/t Au (1m at 5.71 g/t Au) and 3 m at 0.96 g/t Au (1m at 2.05 g/t Au).
• Additional artisanal workings were identified up to 1,450 m outside the current Monterra Trend footprint, opening new areas for follow-up exploration.
• As of now, 20 trenches are complete across the Ben Ben to Feh Feh targets, with trenching ongoing at Lewis North alongside active drilling.

New Artisanal Workings Found Nearby

On August 25, 2026, Zodiac Gold Inc. (ZAU:TSX.V; ZAU:XFRA; ZAUIF:OTCQB)  announced what the company called "highly encouraging" new trenching and channel sampling results from the Feh Feh and Lewis areas at its Todi gold project in Liberia. Further, the company has identified new gold-bearing artisanal workings outside its existing soil geochemical survey of the Monterra Trend. Zodiac believes this information provides new target areas that could expand the company's district-scale exploration thesis.

David Kol, President and CEO of Zodiac Gold, said in the release: "These results are important because they continue to show that the gold potential at Todi is not confined to a single discovery or a single target. At Feh Feh, we have now intersected a broad 23 m mineralized interval containing 12 m at 1.16 g/t Au, including a 1 m interval grading 8.28 g/t Au. At the same time, our field teams are identifying gold-bearing hard rock artisanal workings well outside the footprint of the soil geochemistry that currently defines the 16-kilometer (km) Monterra Trend."

Trenching highlights from Feh Feh were listed as follows:

• Trench FFT001 was dug 470 m southeast of the main artisanal pit at Feh Feh and returned an interval of 27 m at 0.19 g/t Au, including 1 m at 1.13 g/t Au.
• FFT002 was dug approximately 1 km south-southeast of FFT001 on a +50 ppb gold-in-soil anomaly with a 600 m strike length. FFT002 returned 23 m at 0.68 g/t Au, including a higher-grade interval of 12 m at 1.16 g/t Au, with 1 m at 8.28 g/t Au.
• The combination of broad mineralization with higher-grade intervals in FFT002 and untested soil anomalism nearby is considered highly encouraging by management, and new trenching locations are being assessed to follow up on these results.

New gold-bearing targets have been identified within the Monterra Trend and beyond the previously defined corridor. Occurrences of hard rock artisanal mining sites at Gbolomine returned "5m at 1.54 g/t Au, including 1m at 5.71 g/t Au, and 3m at 0.96 g/t Au, including 1m at 2.05 g/t Au," and the press release stated that "preliminary geological observations identified the pit lithologies as weathered, southerly dipping amphibolite, gneiss and possible banded iron formation." Other newly defined artisanal workings include shafts in the Lewis North trend, pitting and shafts at Marine target, shafts at Saycalay, and pitting at the Edge Pit.

Kol continued in the press release: "What excites us most is what these new targets could mean for the scale of the system. Gbolomine sits approximately 800 m south of the Lewis gold-in-soil anomalism, while Marine target lies approximately 1.5 km northeast of anomalism at Ben Ben. These discoveries give us entirely new areas to test and demonstrate why we believe systematic exploration can continue to expand the prospective footprint of Todi."

With the new targets in mind, Kol said: "We are no longer looking at Arthington in isolation. We are systematically advancing Arthington, Ben Ben, Feh Feh, and Lewis while simultaneously generating new targets beyond the previously defined corridor. Every new mineralized occurrence gives our technical team another vector for follow-up and another opportunity to test the broader district-scale potential of the Todi gold project. With drilling, trenching, mapping, and soil sampling all advancing in parallel, we believe we are only beginning to understand the scale of this gold system."

Zodiac Gold Inc. is a West-African gold exploration company focused on the Todi Gold Project in Liberia. The company asserts that Liberia is a politically stable, mining-friendly country with an expedited permitting process and strong political and social support for exploration companies.

Gold Surpasses US$4,500 Benchmark Target

In an exclusive conversation with Streetwise Reports, management of Zodiac remarked on the importance of location in the company's success strategy. They said: "West Africa hosts over 450 Moz (million ounces) of discovered gold across 70+ deposits over 1 Moz, making it the largest Paleoproterozoic gold-producing region in the world. Liberia is one of the least explored regions within this prolific belt, with strong potential for the discovery of +1 Moz deposits. The country is politically stable with a mining-friendly code, 25% corporate tax, 3% royalty, and 100% repatriation of profits. Gold prices at record highs provide a strong macro tailwind for exploration-stage companies advancing district-scale discoveries."

Junior miners and exploration companies hit the ground running this year after gold rallied to above US$5,500 per ounce in January. Many companies chose to begin exploration or production amid these highs. While prices have since fallen, and even dipped below US$4,000 in June, prices are still up 36% compared to August 2025, and Gold.org wrote that: "[T]he stage is set for a possible breakout. On the upside, clear catalysts — a worsening economy or renewed geopolitical shock, a shift towards lower interest-rate expectations, or a wave of dip buying — could reignite gold's momentum and lift it back towards US$4,500/oz or above." As of today, the market has surpassed that benchmark. More bullish still, JPMorgan set a year-end 2026 target of US$6,300 per ounce in February, citing sustained central bank and investor demand.

On August 25, 2026, gold was trading at US$4,621 per ounce — maintaining its bullish rally over the past week — with Trading Economics writing that ". . . The U.S. Treasury Department announced an expansion of its buyback program for long-dated government debt last week in an effort to contain rising borrowing costs, with Secretary Scott Bessent saying he is prepared to increase the buybacks further while also flagging an upcoming longer-term fiscal plan."

The article argues that this program fueled gold's 65% rally in 2025, but it also cautioned that not all investors are convinced of long-term efficacy. It continues: "Markets speculated that the measures may offer only a temporary solution, while renewing concerns over the risks of a U.S. debt crisis, persistent inflation, and dollar weakness."

The metals sector as a whole is also showing signs of improvement. On May 7, 2026, Brian Taylor of Recycling Today said that the World Bank Group has projected that its metals and minerals price index will rise 17% in 2026.

Thomson Sets CA$1.00 Long-Term Target

¹On May 20, 2026, technical analyst Stewart Thomson gave Zodiac a "Speculative Buy" rating, with a short-term price target of CA$0.45, a medium-term price target of CA$0.75, and a long-term technical price target of CA$1.00.

Thomson noted that ". . . early results appear to highlight significant potential for the project."

District-Scale Exploration Advances in Parallel

The press release stated that follow-up geological mapping and sampling, in conjunction with analysis of over 1,300 soil samples, is underway to determine the extent, orientation, and significance of these newly identified occurrences and to prioritize further trenching and/or drilling.

Company management believes that potential investors should consider who has already invested in Zodiac, as the ownership structure often belies confidence in future performance. Strong insider ownership of 30% aligns management with shareholders, and the company board includes prominent mining fund manager Larry Lepard, accomplished mining executive Brett Richards, and veteran geologists.

Ownership & Share Information²

Zodiac Gold Inc. has a market cap of CA$52.20 million, with 184.51 million shares outstanding. The company's 52-week range is CA$0.12-CA$0.43. Management & Insiders own 30% of shares, while Institutions own 10%. 

Frequently Asked Questions

What is the Todi gold project?
Todi is a gold exploration project in Liberia where Zodiac Gold is conducting drilling, trenching, mapping, and soil sampling to identify and define gold mineralization.

Where is the Feh Feh target?
Feh Feh is one of several exploration targets within Zodiac Gold’s Todi project in Liberia and is part of the broader Monterra Trend exploration area.

What are artisanal gold workings?
Artisanal gold workings are small-scale mining sites developed by local miners. They can provide geological information and help identify areas that may warrant further exploration.

Why are soil samples important for gold exploration?
Soil sampling can identify elevated concentrations of gold and other elements at surface, helping exploration companies define anomalies and prioritize targets for trenching and drilling.

What is gold-in-soil anomalism?
Gold-in-soil anomalism refers to an area where soil contains elevated gold concentrations compared with surrounding background levels. These anomalies can indicate underlying mineralization.

How is Zodiac Gold expanding exploration at Todi?
Zodiac is analyzing more than 1,300 soil samples while continuing trenching, mapping, and drilling. New artisanal workings outside the existing Monterra Trend footprint are also being evaluated as potential exploration targets.