Cazaly Resources has confirmed high-grade gold mineralisation at depth in Western Australia's Goongarrie Gold Project and secured ground access for a detailed magnetic survey in Namibia’s Abenab North project, maintaining a solid cash position of approximately $4.5 million.
- High-grade gold assays deepen mineralisation at Goongarrie
- Ground gravity survey supports structural targets at Sir Laurence
- Aircore drilling starts at Hastings gold prospect post-quarter
- Access secured for Abenab North magnetic survey in Namibia
- Cash and investments total approximately $4.5 million
High-Grade Gold Confirmed Deep at Goongarrie
Cazaly Resources Limited (ASX:CAZ) has delivered compelling evidence of high-grade gold mineralisation extending beyond 200 metres below surface at its Goongarrie Gold Project in Western Australia. Recent 1m split assays from reverse circulation (RC) drilling at the Duke of York and Duchess prospects significantly upgraded earlier composite results, confirming multiple thick, high-grade quartz vein intercepts. Highlights include 2m at 26.4g/t gold from 206m and 3m at 6.6g/t from 217m at Duke of York, and 2m at 8.6g/t gold from 150m at Duchess. These results suggest a continuous mineralised strike length of at least 400m between the two prospects, with mineralisation open at depth and hosted primarily in west-dipping quartz veins along shear zones.
The drilling campaign, comprising 16 RC holes for over 3,200m, was designed to test continuity and economic potential. Cazaly plans an internal economic mineralisation study to guide subsequent drilling phases. This latest update follows earlier announcements that established anomalous gold over a 1.3km strike coincident with the Menzies Shear zone, a known mineralised corridor in the Kalgoorlie greenstone belt.
Geophysical Survey Supports Structural Targets at Sir Laurence
Complementing drilling efforts, Cazaly completed a detailed ground gravity survey over the Sir Laurence prospect, covering a 3.3km square area within the Bardoc Tectonic Zone. The 1,322 gravity stations acquired revealed a prominent north-easterly dipping regional trend consistent with major gold mineralisation shear zones. Notably, a north-south striking gravity high with a jog aligns with anomalous gold zones and structural features that extend to Gorilla Gold’s Lakeview deposit nearby. Advanced 3D density inversion modelling and litho-boundary mapping from this survey provide refined targets for future exploration.
Drilling Commences at Hastings Gold Prospect
Post-quarter, Cazaly initiated a 3,000m aircore drilling program at the Hastings gold prospect, testing a 2.6km strike along the Bardoc Tectonic Zone. Hastings is characterised by bedrock gold mineralisation beneath shallow alluvial cover, with historical drilling by Kingwest Resources returning high-grade intercepts such as 38m at 3.1g/t gold. Heritage surveys completed earlier in the quarter cleared the way for this drilling phase, which aims to expand on these encouraging results.
Namibia’s Abenab North Project Poised for Magnetic Survey
In Namibia, Cazaly secured ground access over the Cadix Farm area, unlocking the largest and highest-priority magnetic target within its Abenab North Copper-REE project. The Cadix anomaly, an approximately 800m diameter magnetic high, remains untested by drilling despite its size and proximity to known rare earth mineralisation in adjacent carbonatite pipes. A high-resolution drone-borne aeromagnetic survey is scheduled for August 2026, designed to deliver superior data resolution to optimise upcoming drill targeting.
Financial Position and Other Projects
As of 30 June 2026, Cazaly held cash and investments totalling approximately AUD 4.5 million. The company spent AUD 571,000 on exploration activities during the quarter, primarily focused on Goongarrie. Operating cash outflows were modest at AUD 199,000. Cazaly also continues to advance its Halls Creek Copper-Zinc-Silver project in Western Australia and the Carb Nb-REE Carbonatite project in Canada, with ongoing community engagement and exploration planning underway.
The company maintains royalty interests in iron ore projects including Parker Range and Hamersley, and holds several joint venture interests in Australian gold and base metals projects. The report confirms no material changes to previously reported resource estimates and includes competent person statements validating exploration results.
Bottom Line?
Cazaly’s confirmation of high-grade gold at depth and expanded geophysical targeting sets the stage for focused drilling campaigns, while its secured access in Namibia opens a new chapter for rare earth and copper exploration.
Questions in the middle?
- Will the upcoming economic mineralisation study at Goongarrie support resource definition and potential development?
- How will the detailed drone magnetic survey refine drill targets at the Cadix anomaly in Namibia?
- What impact will the Hastings aircore drilling results have on Cazaly’s overall gold resource potential in the Bardoc Tectonic Zone?