This article is a sponsored feature from Mining.com.au partner Cazaly Resources. It is not financial advice. Talk to a registered financial expert before making investment decisions.
Cazaly Resources (ASX:CAZ) is maintaining a pipeline of projects across a diverse portfolio of commodities with geographical exposure to Australia, Canada, and Namibia.
The primary focus is the Goongarrie Gold Project, located in the eastern goldfields of Western Australia, just 90km north of Kalgoorlie. In February 2025, Cazaly executed a binding term sheet with Brightstar Resources to earn up to 80% of Goongarrie. Since then, significant progress has been made on exploration.
Program of work approvals in Q2 2025 were received for both reverse circulation and aircore drilling from the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS).
The initial phase of reverse circulation drilling is now complete in which 18 holes were drilled for 1,917m to validate and follow up historical intercepts and test other prospective areas for gold mineralisation. The drilling was also designed to provide sufficient information to inform the next phase of drilling.
A heritage survey was also completed across the proposed drilling area covering a 5km strike of the Menzies and Boorora Shear Zones on the southern project area.
Goongarrie covers 12km of strike along the Bardoc Tectonic Zone-Boulder Lefroy Shear Zone (BTZ), host to multi-million-ounce world class gold deposits. Much of the Bardoc Tectonic Zone shear zone within the project remains underexplored and untested at depth.
The project sits in one of the richest gold mineralised structures in the Yilgarn Craton. Cazaly’s strategy is to target gold mineralisation on an economic scale to delineate new gold resources with the Duke of York prospect a current focus.
Cazaly’s progress at Goongarrie and positive results has translated into the company’s share price moving higher in 2025, from a base of $0.011 in January to a high of $0.023 in June. It closed trade on 25 August at $0.022.
Recently speaking to Mining.com.au, Managing Director Tara French says Goongarrie is strategically located in a region with historically high-grade mines.
“There are some old pits in the area, some old underground diggings and we do know that they got high grades in these underground workings. They didn’t get a lot out but nonetheless with grades like 44 grams per tonne, it’s a very exciting space to be,” she says.
French adds that there are open pit mines in the area and potential for an underground operation as the grades “seem to improve with depth”.
Those aforementioned nearby gold deposits French speaks of include Paddington (>10Moz gold), the Aphrodite deposit (1.7Moz), Menzies (1.3Moz), and Comet Vale (96,000oz).
Cazaly in mid-August 2025 began drilling at Goongarrie to delineate mineralisation uncovered with an initial drilling campaign across Goongarrie, as previously reported. Following further drilling approvals, aircore drilling is now underway and the initial phase of drilling is on a broad 80m x 80m grid and will be reduced to 40m where required in areas of interest.
The program is designed to test high priority areas along the Menzies shear corridor in zones of structural complexity around magnetic anomalies.
Cazaly has also been drill testing along strike of the newly identified Duchess prospect with anomalous gold intercepts including 19m @ 1.5 grams per tonne of gold including 2m @ 6.6g/t. The Duke of York prospect returned grades of 56.3 grams per tonne gold, 41.9g/t gold, and 15.9g/t gold from 1m samples, with gold bearing veins plunging to the south.
French says the Duke of York is “super exciting” as there has not been a hole drilled there for about 25 years.
Gold mineralisation at the new Duchess prospect, located 300m southwest of Duke of York, is associated with a broader shear zone within the mafic-ultramafic sequence. Higher gold grades (2m @ 6.6g/t) are associated with shearing, micro quartz veins parallel to the shear fabric, and pervasive alteration.
This distinguishes the Duchess prospect from the Duke of York prospect and confirms the Goongarrie project holds potential for both styles of gold mineralisation suitable for open pit and underground development.
Cazaly is now also seeking additional gold targets along the Boorara and Menzies shear zones over an initial 5 strike kilometres, scheduled for the September quarter 2025.
Halls Creek
Cazaly also continues to explore commercial opportunities for its assets at the Halls Creek Copper-Zinc-Silver Project. The 100% owned 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 company’s Halls Creek project in Australia contains significant copper resources at Mt Angelo and Bommie deposits with combined metals of 23,000 tonnes of copper, 25,000 tonnes of zinc, 680,000 ounces of silver.
Positive Scoping Study results, from AuKing Mining’s (ASX:AKN) Koongie Park copper-zinc project, which included the mineral resources at the company’s 100% owned Mt Angelo North and Bommie deposits, confirms the potential for a financially robust, globally competitive operation with life-of-mine of 11 years with an estimated total production of 110,000 tonnes of copper, 38,000 tonnes of zinc, and 355,000 ounces of silver.
AuKing earlier this year entered into an earn-in joint venture with Cobalt Blue (ASX: COB) where the latter can earn up to 75% interest in the project. Cobalt Blue is investigating development options for the JV.
Global exposure
In Namibia, at the Abenab North REE & Base Metals Project, the application status of the new exclusive prospecting licence, Abenab North, remains at notification of intention to grant. The grant is subject to an Environmental Clearance Certificate (ECC) issued by the Ministry of Environment, Forestry, and Tourism (MEFT).
The project is located in the northern region of Namibia and the application covers an area of 790km2 and is considered highly prospective for rare earths and base metal mineralisation.
During the March 2025 quarter, the ECC application along with an Environmental and Social Impact Assessment and an Environmental Management Plan were submitted.
While the ECC application is progressing through the review process, there have been some internal MEFT processing delays.
The Abenab North REE & Base Metals Project is located in a world-class African Copper Belt that hosts the nearby Tsumeb copper deposit – which was mined for circa 100 years to 1996. Tsumeb produced 30Mt of ore @ 4.3% copper, 3.5% zinc, 10% lead, plus arsenic, antimony, silver, cadmium, and gold.
The area has excellent infrastructure and is served by sealed roads, rail to a port, high voltage power, telecommunication networks, and water.
Cazaly’s Carb niobium and rare earth elements (REE) project is located in northwest Ontario, Canada in the Red Lake District – a well-known mining province comprising 93 mineral claims covering a very large 3km diameter carbonatite complex.
Shallow drillholes completed in 1967 intersected sovite, a coarse-grained carbonatite, with cerium- and lanthanum-bearing carbonate minerals. Subsequent geochemical studies on the drill core revealed cerium more than 5%, lanthanum more than 1% and niobium 0.5ppm.
One sample returned a niobium assay of 7.1%. Field work conducted since its June 2023 acquisition has confirmed the carbonatite has potential to host economic niobium and REE mineralisation.
French notes the best handheld pXRF readings on historical drill cores include niobium 0.6%, neodymium 1.49%, praseodymium 0.42%, lanthanum 3.36%, and cerium 4.34%.
Drill testing will provide better characterisation of the distribution of mineralisation across the carbonatite.
Cazaly maintains regular and transparent communication with the First Nation community in Ontario in order to progress the approved drill program.
Other ventures
The company also maintains exposure to some joint venture projects.
The Mt Venn Gold project is located 125km northeast of Laverton in Western Australia and covers 400km2 of prospective greenstone sequence. The project area lies within the Mount Venn-Yamarna-Dorothy Hills greenstone belt.
Mt Venn is subject to an unincorporated JV between the operators Sarama Resources (ASX:SRR), which acquired Orbminco’s (ASX:OB1) 80% stake in a deal that was completed in July. Cazaly is free carried to the completion of a Prefeasibility Study and holds 20% in the JV.
Cazaly looks forward to Sarama accelerating gold exploration at Mount Venn. The belt is considered highly prospective for gold and nickel and is positioned along the western limb of the Yamarna Greenstone Belt that hosts the 8Moz 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 McKenzie Springs project is a joint venture with Fin Resources (ASX:FIN), located in the Kimberley region of Western Australia. The project lies south along strike from the Savannah nickel-copper-cobalt mine owned by Panoramic Resources (ASX:PAN).
A ground FLTEM survey has been designed to test the interpreted gossan for nickel and copper mineralisation across the Spring Creek Intrusion. The program is scheduled to be undertaken in H2 2025.
Write to Adam Orlando at Mining.com.au
Images: Cazaly & Mining.com.au
