Diversified Australian-based company Cazaly Resources (ASX:CAZ) reports it has completed an infill soil sampling program across the ‘large’ scale surface lithium target at its Kaoko Critical Minerals Project in Namibia.
The recent infill soil sampling campaign was designed to refine the 12km by 10km, +100ppm lithium anomaly, which was defined with broad surface samples collected across a 1km grid from within the north-eastern part of the project area.
Over 287 soil samples were collected from this area by local Namibian consulting company Gecko Exploration and have been sent for multi-element analysis, however, it is believed that there is potential for a large sediment hosted lithium deposit to exist below surface.
Assays are expected to be received in the next 8 to 12 weeks.
Speaking on the completion of sampling, Cazaly Resources Managing Director Tara French says: “We are extremely pleased to have completed this infill sampling with an in-country team.
“We are extremely pleased to have completed this infill sampling with an in-country team”
Now we await the assay results in order to determine the nature and distribution of the lithium and determine the next steps to further advance the project.”
Cazaly also announces that it has received all multi-element assay results from a singular diamond drillhole that was conducted at its Vanrock Polymetallic Project in north Queensland.
It is reported that the anomalous results returned correspond with initial geological observations, with key intercepts including 4m at 2.1% zinc (Zn) and 63.7g/t silver (Ag) from 211.95m; and 2.7m at 1.5% Zn and 14.1g/t Ag from 266.27m.
The company also notes that these results, while encouraging, are not the targeted style of mineralisation that it wished to find and potential still remains for Andean style mineralisation to be discovered within the district.
However, these results, in conjunction with the exploration required in the area of deep cover, does not warrant the company progressing any further.
Commenting on the drilling results, Tara French added: “Following the receipt and interpretation of the results it was concluded that Andean style mineralisation was not associated with the modelled target. The elevated zinc and silver values associated with the alteration in the hanging wall to the Vanrock target are interesting.
“The elevated zinc and silver values associated with the alteration in the hanging wall to the Vanrock target are interesting.”
However, the investment required in this district for effective follow up exploration under deep cover does not currently fit with Cazaly’s strategic direction. As a result, Cazaly has decided not to pursue the joint-venture.”
The company’s Kaoko project is located in northern Namibia about 800km by road from the capital city of Windhoek. The project boasts excellent infrastructure being only 50km from the regional capital city of Opuwo, including an airport, good bitumen roads and access to the 320 MW Ruacana hydroelectric power station.
The project comprises exploration licence EPL6667, which was initially granted in February 2018 (subsequently renewed until February 2023) and covers a total land area of 1,410km-square. In addition, the tenement abuts Celsius Resources’ (ASX:CLA) Opuwo Cobalt project, which boasts a Mineral Resource Estimate (MRE) of 112Mt @ 0.11% Co & 0.41% Cu and ‘significant’ cobalt-copper mineralisation from within the Dolomite Ore Formation (DOF).
Meanwhile, the Cazaly’s Vanrock project is located about 350km west of the city of Cairns in north Queensland and lies within the northern portion of the Townsville-Mornington Island Igneous Belt (TMIB), which extends over 700km from Townsville to the Gulf of Carpentaria.
The company’s other tenements across the 2 nations include the Halls Creek Copper project, Mt Venn and Yabby Gold projects and the McKenzie Springs Nickel-Graphite project.
Images: Cazaly Resources Limited
