For thousands of other reports visit RSC's Mineral Intellingence Map
Cazaly Resources Ltd.
Summary
| Project: | Parker Range | |
|---|---|---|
| Deposit: | Mount Caudan | |
| Location: | Australia | |
| Commodities: | Iron | |
| Date: | 7/31/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 31-7-2019: Cazaly Resources Ltd. announces a Resource Estimation report for its Mount Caudan deposit at the Parker Range project. Updated mineral resource estimate for Mount Caudan deposit. During the quarter, Cazaly Resources Limited (“Cazaly” or “the Co | |
| Resources: | (Resource, Total): 36.2Mt @ 55.7% Fe at Mount Caudan | |
| CP/QP: | [Resources]: David Allmark (RPM Global) | |
| ABSTRACT: | During the quarter, Cazaly Resources Limited (“Cazaly” or “the Company”) agreed commercial terms for the sale of its Parker Range Iron Ore Project (“the Agreement”) to private Australian based diversified group, Gold Valley Iron Pty Ltd (“Gold Valley”), via the sale of its 100% owned subsidiary, Cazaly Iron Pty Ltd (“Cazaly Iron”), which holds the tenements that comprise the Parker Range Iron Ore Project (“Project”). The Agreement allows for an initial three-month due diligence and exclusivity period following the payment of an exclusivity fee and a strategic investment in shares of Cazaly as detailed below. This period may be extended for a further three months by mutual agreement. The sale follows a comprehensive process over an extended period whereby the Company dealt with several parties interested in the project. The arrangement with Gold Valley was considered the best option to advance the Parker Range Project towards production whilst retaining a potential royalty stream. The deal is a great result for the Company, unlocking immediate value from a long held asset for the Company’s shareholders. Gold Valley’s also subscribed for 10 million ordinary shares in the Company (“Shares”) providing further confidence in the alliance. The Company engaged RPM Advisory Services Limited (“RPM”) to update the Mineral Resource estimate for the Mount Caudan Iron Ore (Fe) deposit to JORC (2012) reporting standards. This involved re-reporting the Mineral Resource at a revised cut-off grade and within a new optimised pit shell based upon current costs and commodity prices. The deposit forms part of the Parker Range Project and is located 15km southeast of Marvel Loch, Western Australia and approximately 60km by road south of the Perth–Kalgoorlie railway. The Mineral Resource estimate complies with recommendations in the Australasian Code for Reporting of Mineral Resources and Ore Reserves (2012) by the Joint Ore Reserves Committee (JORC). The RPM 2019 Mineral Resource estimate was reported above a cut-off grade of 50.0% Fe and within a 1.2 times revenue factor optimised pit shell. A full list of parameters is contained at the end of this report. | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report