Cazaly Resources (ASX:CAZ) reports the presence of 2 separate semi-massive sulphidic zones following diamond drilling (DD) activities at the Vanrock Project in north Queensland.
The results, generated by a singular diamond drillhole drilled to a depth of 521.2m, has intersected 2 separate semi-massive sulphidic zones from 211.95m to 215.96m and 264.30m to 272.54m down hole.
The recent drilling was designed to test a coincident magnetic and airborne electromagnetic (EM) anomaly, known as the Vanrock Target, following Cazaly’s decision to enter into an option agreement with privately held Lynd Resources to acquire a majority stake in the project.
Speaking on the results, Cazaly’s Managing Director, Tara French, said: “We are pleased to have intersected multiple zones with semi-massive sulphides within this drillhole.
“We are pleased to have intersected multiple zones with semi-massive sulphides within this drillhole”
Now we await assays in order to complete our interpretation.”
Cazaly notes that funding assistance for this drillhole will be sourced from the Queensland Government’s Collaborative Exploration Initiative (CEI), in which $171,370 of the drilling costs will be reimbursed.
In addition, strong potassic alteration was logged adjacent to both of the sulphidic zones and has also been noted to occur sporadically further downhole, associated with carbonate-quartz veins.
It is also reported that a quartz diorite with disseminated pyrrhotite was intersected at 302.5m downhole and correlates well with the modelled magnetic unit.
The Vanrock project is located about 350km west of the city of Cairns within the northern portion of central north Queensland’s Townsville-Mornington Island Igneous Belt (TMIB), which extends over 700km from Townsville to the Gulf of Carpentaria. The project is considered to have potential for Andean-type silver-tin-zinc-copper-lead mineralisation and is characterised by a magnetic high on the margin of a large caldera about 30km in diameter.
With the singular diamond drillhole now complete, Cazaly announces that the drill core has been transported to Townsville to undergo cutting, processing and laboratory analysis.
Images: Cazaly Resources Limited
