The experienced team behind Cazaly Resources is achieving new heights with initial exploration success at its recently acquired Goongarrie gold project in Western Australia’s Goldfields.
Managing director Tara French believes the company is on the pathway to discovery, thanks to having the right three ingredients for success.
“We’ve got fantastic ground, which is waiting for a gold discovery,” she said.
“We’ve got the people who know how to do it, and we’ve got the money to give it a good crack.”
In just three months since taking on Goongarrie, Cazaly has received exploration approval and completed its first RC drilling program – which confirmed historic high-grade gold intercepts at Duke of York and discovered a new target named Duchess.
Duke of York drilling yielded 4m at 19.4g/t gold within 12m at 7.2g/t, which gives French confidence in the project’s historical data set.
She was also on the rig for hole nine of the RC program and recognised the potential for mineralisation at what is now Duchess, telling exploration manager Don Horn it had the broadest zone of alteration in the drilling she’d seen so far.
He was inspired to drill the final hole of the program underneath – which delivered the new Duchess gold target with a 20m intercept grading 1.9g/t, including 8m at 3.8g/t.
“It’s really exciting – in our first drill program, we’ve already backed up the old work, plus identified a new gold target,” French said.
The success showcases the team’s history of discovery, ability to recognise economic deposits and local Goldfields knowledge.
French joined Cazaly after a 14-year stint with Regis Resources, working with mentor Jens Balkau then leading the exploration team which found 6 million ounces of gold for the miner in the Duketon Greenstone Belt in the north-eastern Goldfields.
“We know what we’re looking for on the Goldfields,” she said.
Cazaly’s board, led by Clive Jones, and its management team hold many decades of resource sector expertise, both in the Goldfields and internationally.
Goongarrie lies 90km north of the mining hub of Kalgoorlie and covers 12km of the Bardoc Tectonic Zone, the northern extension of the Boulder-Lefroy Shear Zone, one of the richest gold mineralised structures in the Yilgarn Craton.
Cazaly has had Goongarrie’s aeromagnetics remodelled, which shed fresh light on the project’s gold prospectivity.
“The structures that control the mineralisation at Goongarrie Lady just to the south of us, and Jenny’s Reward … are analogous to the geophysical targets on our ground and Duchess is right on the edge of one,” French said.
She said the detail now at Cazaly’s fingertips was phenomenal and would improve the understanding of Goongarrie’s geology.
“We’ve still got a lot to learn but we’re gaining a lot of momentum as well,” French said.
Before year-end, Cazaly is aiming to have a fully interpreted aeromagnetic dataset, complete the first phase of air core drilling along the Menzies-Boorara Shear zones, complete the second phase of RC drilling and test the extent of gold mineralisation at Duchess.
The company is also well-funded for its exploration plans, ending the June quarter with A$3.2 million in cash and investments.
“We’re making very good progress … we only finalised this deal (to earn up to 80% of Goongarrie) with Brightstar in March,” French said.
“Eventually the market will catch on to the significance of what we’re unlocking.
“We’re in an excellent Goldfields location, surrounded by multimillion-ounce deposits.
“We have a great team that’s had a lot of success in the Goldfields and that positions us extremely well for future success.
