Cazaly Resources (ASX:CAZ) has initiated a 2,000-meter reverse circulation drilling program at the Duke of York Gold prospect, situated within its Goongarrie Gold Project in Western Australia. This initial drilling phase focuses on testing beneath historical gold workings, with the primary objective of confirming previously identified drill intercepts, including notable findings of 13 meters at 3.5 grams per tonne of gold and 8 meters at 10.7 grams per tonne of gold.
The program’s results will inform the next phase of drilling, which will further test for gold mineralization along strike and down plunge. Cazaly secured the Goongarrie Gold Project through an earn-in joint venture agreement with Brightstar Resources (ASX:BTR), requiring an initial investment of $1 million in exploration within 12 months to earn a 25% interest. Subsequent investments will increase Cazaly’s stake to a potential 80%. The project spans 12 kilometers of the Bardoc Tectonic Zone, a northern extension of the Boulder-Lefroy Shear Zone, a highly mineralized structure within the Yilgarn Craton.
Managing Director Tara French highlighted the rapid progress in obtaining approvals, enabling the commencement of drilling operations less than three months after exercising the option to earn into the Goongarrie Gold Project. Cazaly Resources, with a market capitalization of $9.22 million, aims to leverage this drilling campaign to unlock the potential of the Goongarrie Gold Project and further expand its gold exploration endeavors in the region. The company anticipates the results of this first drilling campaign with great interest.
