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WADI ZEIDUN (±253 km2)
The Wadi Zeidun project area originally comprised three contiguous sectors within the CED terrane of the Egyptian Nubian Shield. The licenses have recently been renewed and portions relinquished and the project now covers approximately 253 km2. The closest town to the Wadi Zeidun project is the city of El Quseir, a historic port city dating back to Roman and Pharaonic times. Lotus currently accesses the Wadi Zeidun project from its field camp situated about 30 to 50 km south of the project and located within the Company’s Umm Samra licenses. Marsa Alam town is located about 120 km by road from the field camp via the Marsa Alam – Idfu tarmac road, 30 km of which is on dirt tracks. The company has a regional field office in Marsa Alam. In general, there is good infrastructure along the Red Sea coast. El Quseir and Marsa Alam are within easy reach of both Hurghada and Marsa Alam International airports.
The Wadi Zeidun property is dominantly composed of a calc-alkaline volcanogenic sequence of ophiolites, volcanics and volcaniclastic rocks, intruded by post-tectonic granitoids, and locally overlain by Hammamat sediments.
Ancient mine stopes and a settlement are present at the Zeidun Mine location, while recent alluvial artisanal activity is evident in the south of the license area. Lotus completed a desktop review of the license block areas, including location of these historical occurrences, published geological maps and satellite imagery.
A number of prospects have been identified and explored to date on the license area. Lotus is currently focusing on two locations; Jindi North and Ash Shihimiyyah, as well as conducting regional follow-up on positive anomalies identified during the 2023 stream sediment sampling program.
The Jindi North prospect occurs on the western boundary of the southern block of the license. It is hosted within mafic to intermediate volcanic and volcaniclastic rocks, adjacent to a prominent west-northwest striking Najd fault. Mineralization is interpreted to be of orogenic style, associated with structural shears and silica alteration toward the south. In the north, mineralization appears to be lithologically controlled within a distinct silica-rich andesite unit. Originally identified from historical workings (linked to copper oxide mineralization at the southern end of the prospect), grab sampling and trenching has proved mineralization for approximately 900m along the NNW trending shear zone.
Ash Shihimiyyah is interpreted as a VMS target, hosted within a sedimentary dolomite interbedded within mafic to intermediate volcanic to volcaniclastic units. Grab, trench and drillhole samples have indicated the presence of elevated zinc, lead and copper in addition to gold.
Other targets (e.g. Jindi Central) have benefited from extensive rock chip sampling and further definition through trenching. These targets are lower priority at this stage, but will continue to be assessed, especially as new results are received from ongoing work at other targets and prospects.
A number of targets (e.g. Arak) were downgraded to a lower priority as a result of sampling and trenching and were included in the areas for relinquishment at the time of the first license renewal in late 2023.
