Uncertainty Remains as Goongarrie Gold Mineralisation Stretches Beyond 200m Depth

High-Grade Gold Mineralisation Confirmed at Depth

Cazaly Resources Limited (ASX:CAZ) has significantly upgraded its gold assay results from the Goongarrie Gold Project in Western Australia, confirming multiple high-grade gold shoots extending beyond 200 metres below surface at the Duke of York and Duchess prospects. The standout intercept of 2 metres at 26.4 grams per tonne (g/t) gold from 206 metres in hole GGRC021 underscores the depth and tenor of mineralisation in fresh rock, with additional intercepts including 3 metres at 6.6 g/t and 5 metres at 6.2 g/t gold further down dip.

The new 1-metre split assays have refined and substantially improved upon previously reported 4-metre composite results, revealing a more detailed picture of the gold distribution and grade variability. This enhanced resolution confirms the presence of multiple high-grade, west-dipping quartz vein structures associated with shearing and lithological contacts, with mineralisation open at depth and along strike over a 400-metre corridor from Duke of York to Duchess.

Strike Continuity and Geological Setting Strengthen Project Potential

Gold mineralisation at Goongarrie aligns with the Menzies Shear Zone and the broader Bardoc Tectonic Zone, a prolific gold-bearing structure that extends through the project area. The strike length of mineralisation has expanded to 400 metres with multiple high-grade shoots identified, while the geological setting includes pervasive carbonate-chlorite-biotite alteration and sulphide mineralisation, including visible gold in quartz-carbonate veins.

At the Duchess prospect, assays such as 2 metres at 8.6 g/t gold from 150 metres and 5 metres at 2.0 g/t from 185 metres confirm the continuity of mineralisation southwards along strike. Meanwhile, Mason’s Flat has returned 7 metres at 2.0 g/t gold from 46 metres within a distinct gold zone hosted in mafic-ultramafic sequences.

These results build on earlier drilling campaigns that identified gold mineralisation over a 1.3-kilometre strike length and support the ongoing economic mineralisation study aimed at defining a resource and guiding further drilling at Goongarrie. The drilling program itself comprised 16 reverse circulation holes totaling 3,242 metres, designed to test mineralisation continuity and depth potential.

Exploration Momentum Accelerates with Gravity Survey and Approvals

In parallel with drilling, Cazaly has completed a ground gravity survey at the Sir Laurence prospect, a 2-kilometre by 1-kilometre gold anomaly area, with results expected imminently. This geophysical work aims to delineate subsurface structures that could host further mineralisation. Additionally, the company has secured program of work approvals for drilling at Hastings and Sir Laurence, with a heritage survey scheduled for early June at Hastings, and pending approvals for drilling along the Comet Vale trend at Julie Margaret.

The gravity survey and drilling approvals complement the recent high-grade assay results and reflect a concerted push to advance the Goongarrie Gold Project, which covers 70 square kilometres of greenstone terrain within the Kalgoorlie region. The project’s location along the Bardoc Tectonic Zone, an extension of the Boulder-Lefroy Shear Zone, positions it within one of the Yilgarn Craton’s richest gold corridors, underscored by nearby resource developments such as ASX:GG8’s Comet Vale project.

This drilling update follows Cazaly’s earlier milestones including a $3.5 million placement to accelerate exploration and the completion of its initial farm-in expenditure to earn a 25% interest in the project, with rights to increase up to 80%. The company’s Managing Director, Tara French, emphasised the importance of the upgraded assays in confirming the high-grade nature of the mineralisation and guiding the next phase of drilling and economic evaluation, noting that mineralisation remains open at depth and along strike.

The ongoing economic mineralisation study and forthcoming gravity survey results will be critical in refining drill targeting and assessing the project’s resource potential. These developments continue to position Goongarrie as a compelling exploration asset in the highly competitive Western Australian gold sector, with multiple prospects showing encouraging grades and geological continuity.

Investors and observers will be watching how Cazaly integrates these new data points into its resource modelling and exploration strategy, as well as the timing and results of upcoming drill programs at Goongarrie and adjacent prospects. The company’s ability to convert these high-grade intercepts into a defined resource and ultimately into economic ounces will be a key determinant of its near-term value proposition.