Cazaly unveils new Lyons geochem anomalies

Junior explorer Cazaly Resources (ASX:CAZ) has reported a string of multi-element geochemical anomalies from recent sampling work across its Lyons Rare Earth Elements (REE) Project in Western Australia.

Over November 2023, the $13.18 million market capitalisation company took on reconnaissance surface sampling at the project, collecting 212 stream sediment samples across three target areas — A1, A2, and A3 — to test for the potential of REE and base metals mineralisation. 

Cazaly says a geochemical analysis of these samples showed results such as 0.8 parts per billion (ppb) gold, 6.9 parts per million (ppm) arsenic, 0.4 ppm bismuth, 53.4 ppm cerium, 39.1 ppm copper, 17.9 ppm lanthanum, 5.7 ppm lithium, 0.3 ppm niobium, 14 ppm lead, 387 ppm titanium, and 47.3 ppm zinc from sample LY0006. 

The company maintains that all up, the most promising samples came from the A3 target area, and it will now look to plan follow-up work to determine the veracity of the REE and niobium anomalies from the various samples. 

The Lyons project spans more than 1000km-square in Western Australia’s Gascoyne region and covers more than 50 strike kilometres of the Lyons River fault, which Cazaly says is associated with ‘significant’ REE deposits.

These include Hastings Technology Metals’ (ASX:HAS) Yangibana Project and Dreadnought Resources’ (ASX:DRE) Yin deposit. 

Further, Cazaly says economic base metal mineralisation in the area is associated with splays off this regional-scale fault at the Abra base metal deposit, jointly owned by Galena Mining (ASX:G1A) and Toho Zinc. 

Alongside the Lyons project, Cazaly also owns a string of exploration assets across Western Australia, Canada, and Namibia. 

The company had just over $2.8 million cash at hand as of 30 September 2023, according to its latest quarterly report.

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Images: Cazaly Resources
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Written By Joshua Smith
Joshua Smith has years of experience in the media sector, having worked as a markets reporter, features writer, and editor since completing a Communications and Journalism degree and a Creative Writing degree. Josh is an avid board game fan and a self-professed coffee snob.