Zodiac Gold Drills Into New 1.8-Km Gold Trend in Liberia

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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 intersected 52 meters at 0.71 g/t gold, including 19 meters at 1.51 g/t, at Lewis North.
• Trenching confirmed a second 1.8-km gold-in-soil trend parallel to the Lewis South mineralized trend at the Todi Gold Project.
• The Lewis North results expand the near-surface gold exploration potential along the 16-km Monterra Trend in Liberia.
• Zodiac Gold is advancing drill testing at Lewis South and Arthington, with an additional drill rig planned to expand exploration.

Lewis North Trenching Intersects Broad Gold Mineralization

On September 2, 2026, Zodiac Gold Inc. (ZAU:TSX.V; ZAU:XFRA; ZAUIF:OTCQB) reported first-pass trenching results from the Lewis North trend at its Todi Gold Project in Liberia. The company believes that the results confirmed broad, near-surface gold mineralization along a second 1.8-km (kilometer) east-west gold-in-soil anomaly.

The strongest result came from trench LWT001, which returned 52 m (meters) grading 0.71 g/t Au (gold), including 19 m at 1.51 g/t Au. This interval included higher-grade sections of 3 m at 3.33 g/t Au and 5 m at 2.71 g/t Au, while individual 1 m samples within those intervals returned up to 6.59 g/t Au.

A second trench, LWT002, located along the same trend as LWT001, returned 28 m at 0.48 g/t Au, including 2 m at 2.64 g/t Au. The company said the results confirm broad mineralized zones at two locations along the Lewis North trend. The results add a second mineralized trend to the Lewis target, parallel to the Lewis South trend. Previous trenching at Lewis South returned 84 m at 0.51 g/t Au, including 30 m at 1.04 g/t Au. Lewis South is currently being tested as part of the company's Phase 1 diamond drilling program, which began July 21, 2026.

Together, the results suggest that the two parallel 1.8-km gold-in-soil trends at Lewis could host broad gold mineralization with higher-grade zones. The company said the findings expand the prospective footprint of the Lewis target and support further drill testing.

David Kol, President & CEO of Zodiac Gold, said in the release: "Lewis is rapidly emerging as a significant new exploration opportunity within our 16-kilometer Monterra Trend. We now have two parallel 1.8-kilometer gold-in-soil anomalies at Lewis, both returning broad, near-surface gold mineralization with higher-grade zones, strengthening our conviction in the scale and potential of this 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 Prices Support Continued Exploration

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 26% 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."

The market has since 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 September 3, 2026, Trading Economics reported that gold prices rose to US$4,470 after Treasury yields lowered following "dovish" comments from higher-ups at the Federal Reserve. The article stated: "Markets scaled back expectations for a Federal Reserve rate hike after Fed Governor Christopher Waller said he sees continued progress on inflation and would support keeping interest rates unchanged at the September meeting if that improvement is confirmed in the August data."

Looking to the near future, the article then said: "A weaker-than-expected ADP employment report, meanwhile, pointed to a slowdown in the US labor market. Traders now see roughly a 50% probability of a September rate hike, down from about 62% before Waller's comments. Investors now await Friday's payrolls report and next week's inflation data for further clues on Fed policy."

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.

Analyst Highlights Todi Gold Exploration Potential

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."

Additional Drill Testing Planned Across Todi

Kol spoke of Zodiac's future in the release, commenting: "With drilling already underway at Lewis South and Arthington, we are mobilizing an additional drill rig to the Todi Gold Project, which is set to commence drilling within the next two weeks, allowing us to aggressively test multiple targets and accelerate our understanding of the continuity, geometry, and overall scale of mineralization. Lewis is another example of the growing pipeline of high-priority targets across Monterra, and with the capital, team, and infrastructure in place, we intend to systematically drill-test these opportunities."

Company management believes that potential investors should consider who has already invested in Zodiac, as the ownership structure often demonstrates 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 184.76 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

Q: What did Zodiac Gold discover at the Lewis North trend?
A: Zodiac Gold reported broad, near-surface gold mineralization from first-pass trenching at the Lewis North trend of its Todi Gold Project in Liberia. The results support a second 1.8-km gold-in-soil trend at Lewis.

Q: What were the best trenching results at Lewis North?
A: Trench LWT001 returned 52 meters, averaging 0.71 g/t gold, including 19 meters at 1.51 g/t gold. The interval included higher-grade sections of 3 meters at 3.33 g/t gold and 5 meters at 2.71 g/t gold.

Q: What did the second Lewis North trench return?
A: Trench LWT002 returned 28 meters, averaging 0.48 g/t gold, including 2 meters at 2.64 g/t gold. The results provide additional evidence of mineralization along the Lewis North trend.

Q: How large are the gold-in-soil anomalies at Lewis?
A: Zodiac Gold has identified two parallel gold-in-soil anomalies at Lewis, each approximately 1.8 km long. The company is using trenching and drilling to determine the continuity and scale of the underlying mineralization.

Q: What is the Lewis target?
A: Lewis is an exploration target within Zodiac Gold's 16-km Monterra Trend at the Todi Gold Project in Liberia. The company is testing multiple targets across the project through trenching and drilling.

Q: What is trenching in gold exploration?
A: Trenching involves excavating long, relatively shallow cuts across the surface to expose underlying rock and mineralization. Samples collected from these trenches can help explorers understand the width, grade, and continuity of a mineralized zone before or alongside drilling.

Q: How does Lewis North compare with Lewis South?
A: Lewis North is a newly identified mineralized trend that runs parallel to Lewis South. Previous trenching at Lewis South returned 84 meters, averaging 0.51 g/t gold, including 30 meters at 1.04 g/t gold.

Q: Why are near-surface gold results important?
A: Near-surface mineralization can be important because it may be easier to access during potential future mining. However, trenching results alone do not establish the economic viability of a deposit.

Q: Where is the Todi Gold Project located?
A: The Todi Gold Project is located in Liberia, West Africa. Zodiac Gold is focused on exploring the project for gold mineralization across its Monterra Trend.

Q: Why is Liberia important for gold exploration?
A: Liberia is located within the broader West African gold region, which contains numerous significant gold deposits. Zodiac Gold describes Liberia as an underexplored part of the region with potential for additional discoveries.