Kaoko Kobalt Project (51%)

The Kaoko Project is located in northern Namibia approximately 800km by road from the capital of Windhoek and approximately 750km from port of Walvis Bay, Namibia. It is primarily prospective for base metal mineralisation.

On 26 March 2018, the Company announced it had acquired an option to earn the rights to a 95% interest in the Kaoko Kobalt Project (Kaoko) in Namibia. The Kaoko project initially comprised key exploration licence EPL6667 which was granted to a local Namibian company (KDN Geo Consulting CC)(KDN) for a 3-year period from February 2018. 

The option acquired was for the right to purchase 100% of the capital in Kunene North Pty Ltd (Kunene), an Australian unlisted proprietary company. Kunene’s main asset is the Joint Venture (KDN JV) that Kunene holds with KDN. The KDN JV is administered through a jointly owned Namibian company, Philco One Hundred and Seventy Three (Proprietary) Limited (Philco).

Parker Range Iron Ore Project (100%)

The project hosts a near mine-ready iron ore deposit located in the Yilgarn of Western Australia key features of which include ultra-low Phosphorous haematite ore, completed full DFS, located nearby to major infrastructure and has its key approvals to mine in place. The Company is in continued discussions with infrastructure advisors and is reviewing export solutions. The nature of the ultra-low phosphorous ore makes this orebody in demand as a blending ore.

Mt Venn Project (100%)

The Company has entered into a Share Sale Agreement with Sulphide X Limited (Sulphide), a private company that plans to list on the ASX. An option fee has been paid and Sulphide has an initial three month exclusivity period to conduct its due diligence on the Mt Venn project.  

Mt Tabor and Bungonia Cobalt Projects (100%)

In order to focus on their main projects, the Company elected to explore the divesture of the Mount Tabor and Bungonia projects. An option agreement was signed with a private company, who paid a nominal fee for a six month exclusivity option, but they recently decided not to proceed with the purchase of these tenements.

Kurabuka Creek Project (100%)

The Kurabuka Creek project comprises exploration licence application 09/2267 over 69 sub blocks in the Bangemall Basin of Western Australia. The area is prospective for shale hosted base metal mineralisation as demonstrated by historic work.

Cazaly has collated all open file data sets and is preparing for field reconnaissance work investigating the potential of this area to host significant mineralisation. Grant of the tenement is expected during the current quarter.

McKenzie Springs Project (100% – FIN earning 51%)

During the quarter, FIN Resources Limited (ASX: FIN) listed on the ASX. Previously the Company entered into an agreement with FIN whereby FIN may earn an upfront 51% working interest in McKenzie Springs.

The project is located immediately south & along strike of the Savannah Nickel Mine (Panoramic Resources Ltd), Kimberley, WA. Prospective ultramafic basal contact extends for ~15km. Work by Cazaly has identified high grade gossan samples returned 12.8% Cu, 1.92% Ni, 0.17% Co. The project is also within 10km of the Hexagon Resources McIntosh Graphite Resource. Reprocessing and imaging of historic VTEM data was completed by Cazaly with several conductor targets potentially representing graphitic units ready for follow up.

Czech Republic (CAZ 80%)

Two uranium project applications, Brzkov & Horni Venice, located in the Czech Republic. State enterprise Diamo are closing the country’s only operating uranium mine & has indicated interest in mining at Brzkov.

Goldfields Lithium Alliance

The Company withdrew from the Goldfields Lithium Alliance to focus on its core projects.