Cazaly Resources (ASX:CAZ) has secured a 51% majority interest in the Goongarrie Gold Project after meeting its stage two farm-in obligations 12 months ahead of schedule.
The company exercised its option with Brightstar Resources (ASX:BTR) in March 2025 to earn up to an 80% interest in the project, located 90km north of Kalgoorlie in Western Australia’s northeastern goldfields. The 70km² project covers 20km of the Bardoc Tectonic Zone.
Cazaly achieved the milestone after $1 million was spent on exploration activities that included geophysics and drilling. This follows the first $1 million expenditure completed in January 2026 for a 25% interest.
Under the agreement, Cazaly can spend a further $1 million by March 2029 to earn an 80% interest.
Exploration completed to date includes over 5,000m of reverse circulation drilling and approximately 14,000m of aircore drilling, alongside ground gravity surveys and 3D geological modelling.
The most recent aircore program comprised 50 holes for 3,512m, systematically testing the Hastings trend along the Menzies Shear within the Bardoc Tectonic Zone.
Managing Director Tara French says the ‘disciplined’ exploration approach has confirmed gold mineralisation across multiple prospects associated with the Menzies Shear, as well as identified new targets that require further work.
“We are encouraged by the results we have received to date, and are working through the targets to prioritise the next phase of drilling activity,” French says.
The company is awaiting remaining aircore assay results to rank prospects and determine its next drilling campaign.
Cazaly Resources is a junior explorer and resource developer focused on its Goongarrie Gold Project in WA, alongside a portfolio of critical minerals projects across Australia, Canada, and Namibia.
Write to Paula Fabe at Mining.com.au
Images: Cazaly Resources
