Halls Creek (CAZ 100%)

The Project is situated 25km southwest of Halls Creek and covers part of the Halls Creek Mobile Zone which is highly prospective for a range of commodities including copper, gold and nickel. The project includes the Mount Angelo North Copper-Zinc deposit, an extensive zone of near surface oxidised Cu-Zn mineralisation overlying massive Cu-Zn sulphide mineralisation.

The Project area also hosts a large lower grade copper deposit associated with a high level porphyritic felsic intrusive at the Bommie prospect located 2.5km to the southwest of the Mount Angelo Copper-Zinc deposit. The Bommie prospect has a large geochemical footprint with coincident Cu-Mo-Bi that extends for 1.2km along strike and over 800m across strike.

A drill program was co-funded via the Department of Mines, Industry Regulation and Safety (DMIRS) Exploration Incentive Scheme (EIS), a State Government initiative that aims to encourage exploration in Western Australia. The Company was successful in two applications for co-funding its drilling campaigns at Mount Angelo North (M80/0247) and at the Mount Angelo Porphyry Bommie Prospect (E80/5307) for up to a total of $300,000 subject to programme approvals and clearances.

Ashburton Basin Project (CAZ 100%)

Cazaly holds the rights to a major land position covering more than 2,450km² in the Ashburton Basin, in the Pilbara region of Western Australia. The project covers major regional structures considered to be highly prospective for major gold mineralisation and occurs in the region hosting Northern Star’s (ASX: NST) Paulsen’s gold deposit and Kalamazoo’s (ASX: KZR) recently acquired Mount Olympus gold deposit. 

The Ashburton Basin forms the northern part of the Capricorn Orogen, a ~1000km long, 500km wide region of variably deformed metamorphosed igneous and sedimentary rocks located between the Yilgarn and Pilbara cratons.

The Company applied for tenure within the region following the recognition of the presence of a major deeply seated, crustal scale structure with the potential to host significant mineralisation, the Baring Downs Fault (BDF). The BDF lies centrally within the Ashburton Basin which to date has had very little modern exploration.

In May and June 2021, the Company and its consultants collated and reprocessed all seismic, magnetic, gravity, geological and geochemical datasets across the Ashburton Project and conducted a major litho-structural interpretation of the region. This reprocessing resulted in a far greater detailed interpretation of the region compared to previous processing and importantly, identified at least three previously unknown, large-scale, deep-seated faults.

One of these newly identified faults shows a seismically reflective halo near-surface that may evidence alteration/fluid flow along this structure. The interconnected relationship between this deeply seated structure and associated smaller scale faults and deformation within the Wyloo Group has led to targeted areas considered prospective for gold mineralisation.

The technical work conducted to date has successfully highlighted specific areas potentially hosting gold mineralisation. The Company is now finalising heritage access agreements and is designing first pass field work over the targeted areas.

Kaoko Kobalt Project (CAZ 95%)

Cazaly holds a 95% interest in the Kaoko base metal project located in northern Namibia approximately 800km by road from the capital of Windhoek and approximately 750km from the port of Walvis Bay. The project is situated immediately north of, and abuts, Celsius Resources Limited’s (ASX: CLA) Opuwo Cobalt project resource of 112Mt @ 0.11% Co & 0.41% Cu (CLA ASX: 16 April & 5 November 2018).

McKenzie Springs (FIN 51% CAZ 49%)

Sammy Resources Pty Ltd (a wholly owned subsidiary of Cazaly) is in joint venture with Fin Resources Ltd (ASX: FIN) over exploration licence E80/4808, the McKenzie Springs Project, located in the Kimberley region of Western Australia. The project lies south along strike from the Savannah nickel mine owned by Panoramic Resources Ltd and is prospective for intrusive – hosted nickel copper mineralisation.

Mt Venn Gold Project (WML 80% CAZ 20%)

The Mt Venn Gold Project is located 125km northeast of Laverton in the Eastern Goldfields Region of Western Australia and covers approximately 400km² of prospective greenstone sequence. The project area lies within the Mount Venn-Yamarna-Dorothy Hills greenstone belt which is the most easterly major N-S striking greenstone belt of the Yilgarn Craton.

The belt is considered highly prospective for gold and nickel and is positioned along the western limb of the Yamarna Greenstone Belt that hosts Gold Road’s and Gold Fields’ plus 6Moz Gruyere Gold Mine. Together the Yilgarn greenstone belts account for 30% of the world’s gold reserves, most of Australia’s nickel production and other base metal and rare earth deposits. 

The project is subject to an unincorporated Joint Venture between the operators Woomera Mining Limited (ASX: WML) and Cazaly.

More recent work by Woomera has focused on the Three Bears Gold Trend, that extends over 7km strike and is highly prospective for gold mineralisation. Drilling results to date confirm the Mama Bear prospect has bedrock gold mineralisation continuity over 600m strike, however further exploration work is required in order to locate the higher grade zones within the mineralised system.

Hamersley Project (PF1 70% CAZ 30%)

The Hamersley Iron Ore Project is an unincorporated Joint Venture between the Company and Pathfinder Resources Ltd. (ASX: PF1). The project is located in the heart of the world-renowned Pilbara iron ore district.

On 9 July 2021, the Company, together with Pathfinder, announced the sale of the project to Equinox Resources Limited who intend to undertake an initial public offer (IPO) and seek a listing on the official list of the Australian Securities Exchange. 

The proposed transaction will create a new listed entity, assisted by a dedicated board and management team, with a sole focus on exploration and development of the Project. 

The proposed spinout will also allow Cazaly to focus its efforts on advancing its other 100% owned projects as well as exploring new opportunities. 

The IPO was lodged with ASIC and ASX on 31 August 2021.

Yabbie Project (CAZ 100%)

Field reconnaissance work will shortly be conducted at the recently granted Yabbie (formerly known as Brown Well) project (CAZ 100%) located in the Laverton district of Western Australia.

Parker Range Iron Ore Project (Royalty interest)

Mineral Resources Limited (ASX: MIN) has stated that they expect to commence production from the Parker Range mine, where the Company has a royalty interest, in September 2021 quarter pending final approvals.

Czech Republic (CAZ 80%)

Cazaly is reviewing its position in relation to its interest in two exploration applications in the Czech Republic as it continues to encounter in-country difficulties in advancing these to grant.

Tara French – New Managing Director 

On 19 April 2021, Cazaly Resources Limited announced the appointment of Ms Tara French as the new Chief Executive Officer/Managing Director of the Company. Tara was previously the General Manager of Exploration at Regis Resources Limited where she was employed for 14 years and played a key role in the company’s transition and growth over that time. In readiness for the commencement of Ms French on 12 July 2021, Clive Jones reverted to the role of Executive Director whilst Nathan McMahon became a Non-Executive Director.