Cazaly Resources (ASX:CAZ) is set to begin aircore and reverse circulation drilling at its Goongarrie Gold Project in Western Australia, focusing on the Duke of York prospect. Situated on the Bardoc Tectonic Zone between the Jenny’s Reward and Goongarrie Lady mines, the program aims to extend known gold mineralization up-dip, at depth, and along strike of historical intercepts. The company’s renewed interest follows a re-evaluation of extensive datasets, identifying several promising target areas within the Goongarrie project.
The Bardoc Tectonic Zone, a 2km stretch between the Goongarrie Lady and Jenny’s Reward gold mines, has been relatively unexplored, presenting substantial opportunities. Cazaly is awaiting approvals for the drilling program at Duke of York, with plans for follow-up exploration and drill planning for other targets along the 12km Bardoc Tectonic Zone within the project area. The Goongarrie Project, encompassing 70km² of greenstone sequence, is located in the northeastern Goldfields region.
Cazaly recently exercised its option for an earn-in joint venture with Brightstar Resources (ASX:BTR) for the Goongarrie Project. Under the agreement, Cazaly must invest an initial $1 million in exploration within 12 months to secure a 25% stake. Additional investments of $1 million within 18 months will increase its interest to 51%, and a further $1 million over another 18 months will bring its ownership to 80%.
