Cazaly arranges exploration plans for WA projects

Cazaly Resources (ASX:CAZ) is planning to tackle further exploration at its new Lyons Rare Earth Elements (REE) Project in Western Australia following the reconnaissance work completed last quarter. 

The $14.22 million market capitalisation company snapped up the project in August and is now aiming to target potential splay structures originating from the Lyons River Fault. 

While activities were mostly focused on Cazaly’s Canadian projects last quarter, the company notes exploration activities were scarce at its Ashburton Basin REE, Gold, and Base Metals Project in the Pilbara region of WA. 

During the June quarter, the company had planned to follow up on surface sampling across the REE trend at Ashburton, but it has not done so as of yet. 

This second phase of sampling will include close-spaced surface rock chip sampling and geological mapping aimed to provide information on the style, width, and distribution of the REE mineralisation at the project. 

At the Halls Creek Copper Project in WA’s east Kimberley, Cazaly is continuing to explore corporate opportunities to advance the asset. 

Meanwhile, at the Abenab REE and Base Metals Project in Namibia, Cazaly says the application for a new exploration licence remains pending approval. 

This news all comes after Cazaly began helicopter-supported exploration at its Sundown Lithium Project in Canada. 

The results of this fieldwork will be ‘critical’ for fact-checking existing datasets and optimising future targeting techniques. 

As of 30 September 2023, Cazaly had $5.4 million cash and investments at hand, according to its latest quarterly report. 

Cazaly Resources is a Perth-based diversified mineral explorer. The company has assets across Canada, Australia, and Namibia that are prospective for lithium, rare earths, base metals, critical minerals, and gold.

Write to Aaliyah Rogan at Mining.com.au 

Images: Cazaly Resources
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.