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Cazaly wraps up exploration at WA, Qld prospects

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Matt BirneySponsored
Drill chips at Cazaly’s Bommie prospect show disseminated sulphides and quartz-carbonate veins.
Camera IconDrill chips at Cazaly’s Bommie prospect show disseminated sulphides and quartz-carbonate veins. Credit: File

Cazaly Resources is eagerly awaiting results after completing an RC drilling program at its Halls Creek project in WA in addition to an electromagnetic survey at the company’s Vanrock project in Queensland.

The 19-hole, 4049m RC drilling program was designed to test Cazaly’s Moses Rock and Bommie prospects whilst the airborne electromagnetic survey is aiming at expanding on an original anomaly previously recorded at Vanrock by Geoscience Australia.

The Bommie prospect is about 2.5km south-west of Mount Angelo North where the company has a 1.72 million tonne resource going 1.4 per cent copper, 12 grams per tonne silver and 1.4 per cent zinc.

Cazaly says Bommie is a large, low-grade porphyry copper system with a significant geochemical impression that stretches across a 1km strike zone and extends about 800m wide.

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The 16-hole campaign at Bommie will assist in the company’s maiden inferred mineral resource at the site.

Drilling at Cazaly’s Moses Rock prospect, also within 5km of Mount Angelo North, will test a 300m-long electromagnetic conductor with three drill holes sunk into the site.

The company says whilst one drill hole failed to reach target depth, two drill holes were completed to planned depth and were cased with PVC pipe to allow for future down-hole surveys.

Assay results from the program are expected before the end of the year.

Cazaly acquired a 20 per cent interest in Halls Creek in 2013 for $100,000 in cash along with 1.25 million of its shares. Last year, it shelled out an additional $250,000 in cash for the remaining 80 per cent of Halls Creek, with a further $250,000 to follow on first production.

Just last month Cazaly, via subsidiary Vanrock Resources, entered an agreement to earn into the multi-metal Vanrock project in central north Queensland after signing a deal with privately owned Lynd Resources.

The company says it was fortunate to find airborne surveyor NRG Australia doing work in the area and seized the opportunity to acquire more data to supplement its existing dataset and modelled target at Vanrock.

We are extremely pleased to see RC drilling at Halls Creek completed and look forward to the receipt of assays within 2-3 months. The drilling will contribute to the estimation of a maiden copper resource at the Bommie prospect by the end of December 2022.

Cazaly Resources Managing Director, Tara French

Located 350km west of Cairns, the district around the Vanrock project has a long history of tin exploration and mining dating back to the early 1900s.

Cazaly can earn 60 per cent in the project by spending $1.5 million over three years, 75 per cent by commencing a prefeasibility study and 90 per cent by completing a bankable feasibility study.

However, the agreement is subject to due diligence that includes Cazaly committing to fund drilling of a single planned hole at the Vanrock target by the end of November.

The company says heritage work and diamond drilling at the Queensland site is on schedule to be completed by the end of the September quarter.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au

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