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Cazaly Resources Ltd.
Summary
| Project: | Mount Venn | |
|---|---|---|
| Deposit: | Three Bears, Rutters | |
| Location: | Australia | |
| Commodities: | Gold-Zinc | |
| Date: | 2/27/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 27-2-2017: Cazaly Resources Ltd. announces an Exploration/Drilling Update report for its Three Bears, Rutters deposit at the Mount Venn project. Drilling results incl. 36m @ 0.47g/t Au from 28m. Cazaly Resources Limited (ASX: CAZ, “Cazaly” or “the Company | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Clive Jones, Don Horn (Internal) | |
| ABSTRACT: | Cazaly Resources Limited (ASX: CAZ, “Cazaly” or “the Company”) is pleased to present the results from the Company’s maiden drilling programme conducted at the Mount Venn Project. The Mount Venn project is located ~125 km northeast of Laverton and just 40 km west of Gold Road Resources Ltd’s (ASX:GOR) Gruyere gold deposit (148 Mt @ 1.30 g/t Au for 6.16M oz., GOR announcement, 22 April 2016) in the Eastern Goldfields region of Western Australia. The belt is associated with the regionally significant Yamarna Shear Zone complex and has many similarities with the Dorothy Hills greenstone belt which hosts Gruyere. Following extensive technical assessment and reprocessing of a large historic database, comprising limited drilling, regional geophysics and geochemical datasets, the Company developed models primarily targeting gold mineralisation within the belt. Cazaly successfully completed land access agreements with the traditional owners in December and was able to conduct its first drill campaign in January this year comprising 94 aircore holes for 4,171m, 30 RAB holes for 970m and 14 RC holes for 1,438m over two prospects at Three Bears and Rutters. Targeting was largely based upon anomalous gold and pathfinder geochemistry in association with favourable lithologies and structural positions defined from geophysics and previous mapping. Very little to no historic drilling had been previously conducted in these areas. The programme proved to be highly successful in defining a major gold mineralised structure at Three Bears and outlining widespread zinc anomalism at Rutters. | |
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