How Cazaly’s $1M Drilling Unlocks Gold Potential at Goongarrie
Cazaly Resources has met its initial $1 million farm-in milestone at the Goongarrie Gold Project, earning a 25% interest after identifying continuous gold mineralisation over a 1.3-kilometre strike. The company plans further drilling to expand its stake and explore high-grade targets.
- Initial $1 million farm-in expenditure completed within nine months
- Earned 25% interest in Goongarrie Gold Project with rights to increase to 80%
- Drilling revealed anomalous gold mineralisation over 1.3 km strike length
- High-grade intercepts include 6m at 10.3g/t and 10m at 5.7g/t gold
- Next RC drilling campaign planned for Q1 2026 targeting depth and continuity
Cazaly Hits First Milestone at Goongarrie
Cazaly Resources Limited has successfully completed the initial phase of its farm-in agreement with Brightstar Resources at the Goongarrie Gold Project, located 90 kilometres north of Kalgoorlie in Western Australia's prolific goldfields. By spending $1 million on exploration activities within nine months, Cazaly has earned a 25% stake in the project, with options to increase its interest to 80% through further expenditure milestones.
Encouraging Drilling Results
The company’s recent drilling campaign comprised 18 reverse circulation (RC) holes and nearly 300 aircore holes, covering over 12,000 metres in total. These efforts delineated anomalous gold mineralisation exceeding 1 gram per tonne along a 1.3-kilometre strike, stretching from the Goongarrie Lady prospect to Jenny’s Reward. Noteworthy intercepts include 19 metres at 1.5g/t gold at the Duchess prospect, and high-grade hits such as 6 metres at 10.3g/t and 10 metres at 5.7g/t gold at Duke of York.
Strategic Location and Geological Potential
Goongarrie sits within a 70-kilometre greenstone belt in the Kalgoorlie Terrain, covering a significant portion of the Bardoc Tectonic Zone. This zone is an extension of the highly mineralised Boulder-Lefroy Shear Zone, known for hosting some of Western Australia's richest gold deposits. The project area also features two additional parallel structures that may hold further gold potential, underscoring the strategic importance of Cazaly’s position.
Looking Ahead – Next Drilling Phase
With the initial milestone achieved, Cazaly is gearing up for its next RC drilling campaign in the first quarter of 2026. This phase aims to test the depth and continuity of the gold mineralisation along the Menzies shear corridor, particularly focusing on the Duchess prospect’s strike length and grade consistency. Success here could pave the way for Cazaly to meet subsequent farm-in expenditure targets, increasing its ownership to 51% by September 2027 and ultimately 80% by March 2029.
Market and Exploration Implications
These developments come amid a backdrop of strong exploration results in the region, including nearby high-grade intercepts reported by Gorilla Gold Limited. While historical data referenced may not fully comply with current reporting standards, Cazaly’s recent JORC-compliant results provide a solid foundation for optimism. The company’s methodical approach to exploration and staged investment reflects a disciplined strategy to unlock value in a highly prospective gold belt.
Bottom Line?
Cazaly’s progress at Goongarrie sets the stage for deeper drilling and potential resource growth, with market eyes on upcoming assay results.
Questions in the middle?
- Will the next drilling phase confirm continuity and higher-grade zones at depth?
- How might increasing Cazaly’s stake to 80% impact project economics and financing?
- What are the implications of historical data compliance on resource estimation and investor confidence?
