Cazaly Resources has completed the grant of all five tenements for its Romano Gold Project, finalising Dundas Minerals’ 80% earn-in joint venture with a $1.7 million cash and shares consideration. The project lies adjacent to the 6Moz Gruyere gold mine, setting the stage for systematic exploration.
- Romano JV tenements fully granted
- Dundas Minerals to earn 80% with $2M exploration spend
- Cazaly retains 20% free-carried interest until feasibility study
- Project adjacent to 6Moz Gruyere gold mine
- Exploration to focus on native title and drilling programs
Final Grant Completes Romano JV Acquisition
Cazaly Resources Limited (ASX:CAZ) has secured full grant of all five tenements comprising its 100%-owned Romano Gold Project in Western Australia’s north-eastern Goldfields. This milestone finalises the tenement acquisition component of the joint venture with Dundas Minerals Ltd (ASX:DUN), with a total consideration of $1.7 million paid in cash and shares.
The grant of exploration licence E38/4002 by Dundas Minerals on 1 September 2026 marks the completion of the deal, enabling Dundas to earn an 80% interest in the Romano project by committing $2 million to exploration within two years. Cazaly retains a 20% free-carried interest up to the completion of a positive feasibility study, ensuring ongoing exposure without funding obligations during early-stage exploration.
Strategic Location Adjacent to Gruyere Gold Mine
The Romano Project spans roughly 800 square kilometres along the eastern margin of the Yamarna Greenstone Terrane, immediately north of Goldfields Ltd’s Gruyere gold mine, which boasts a 6.05 million ounce resource. Positioned in the Mount Margaret Mineral Field about 145 kilometres northeast of Laverton, the tenements benefit from established access via the Great Central Road and Mount Shenton–Yamarna Road.
Despite its proximity to a major producing mine, exploration at Romano remains at an early stage. Historical drilling has been shallow and widely spaced, with no systematic reverse circulation or diamond drilling programs conducted to date. Key mineralised structures beneath the base of oxidation have yet to be adequately tested, leaving significant potential for discovery.
Upcoming Exploration Focus and Approvals
Dundas plans to advance the project by securing native title and heritage approvals necessary for ground access. Concurrently, it will compile and reinterpret existing datasets to inform the design of the first systematic reverse circulation and diamond drilling campaigns. These steps are critical for unlocking Romano’s exploration potential and validating its resource prospects.
Cazaly’s Managing Director Tara French highlighted the significance of the milestone, noting that the arrangement allows Dundas to fund exploration while Cazaly retains a valuable stake without immediate capital outlay. She expressed optimism about Dundas’s ability to progress the project with systematic exploration across the tenement package.
Bottom Line?
Romano’s tenement grant finalises a key joint venture step, positioning Dundas to drive exploration while Cazaly retains upside exposure; forthcoming drilling and approvals will be pivotal.
Questions in the middle?
- Will Dundas meet the $2 million exploration expenditure within two years to earn its 80% interest?
- How will the systematic drilling programs reshape the understanding of Romano’s mineral potential?
- What timeline and hurdles remain for native title and heritage approvals before full-scale exploration can commence?