Cazaly Resources (ASX:CAZ) has completed its initial rock chip sampling program at its Sundown Lithium Project in Quebec, Canada, even as it plans drilling work in Ontario.
The company says its onsite team at Sundown was able to access several pegmatite locations in the project area and collected 304 rock chip samples.
All samples have been submitted to a laboratory for analysis, with results expected to be received in 8-10 weeks.
Meanwhile, the first round of analytical results from fieldwork completed at the Carb Lake Rare Earth Element (REE) Project in Ontario has been received.
Activities included mapping, prospecting, and traversing the entire span of the more-than-3km carbonatite footprint.
Cazaly reports that the carbonatite samples show 2 distinct populations, with the majority of carbonatite displaying having ‘highly’ anomalous REE, strontium (Sr), and niobium (Nb).
The ‘best’ grab samples recorded include 2,479 parts per million (ppm) total rare earth oxide (TREO), with neodymium and praseodymium (NdPr) comprising up to 22% of the TREO; and 2,084ppm TREO with NdPr up to 25% TREO.
These results suggest the ‘large’ Carb Lake carbonatite complex is potentially ‘well-enriched’ in rare earths and niobium and could host ‘significant’ resources, according to Cazaly.
Cazaly says it is continuing to progress discussions with Sachigo First Nations and is planning its initial drilling program, aimed to broadly test the footprint of the entire carbonatite complex.
The Carb Lake project lies in the Red Lake District of Ontario, Canada. Meanwhile, Sundown sits in the James Bay lithium province of Quebec.
Cazaly Resources is a Perth-based minerals explorer and resources developer. The company has a diversified portfolio considered prospective for rare earths, critical minerals, battery metals, and gold.
As of 30 September 2023, the company had $5.4 million cash and investments at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Cazaly Resources