Cazaly sharpens Namibia targets before first Abenab North drilling

Two Abenab North anomalies move towards drilling

Cazaly Resources Limited (ASX:CAZ) has narrowed the focus of its 95%-owned Abenab North project in Namibia to two magnetic anomalies that the company says are now suitable for drill testing. The Accra and Abenab targets have been confirmed as magnetic source rocks following a high-resolution drone survey, while the Cadix target has been downgraded after historic plotting errors were uncovered.

The result gives Cazaly a more defined path towards maiden drilling, which remains scheduled for the second half of 2026. The proposed program will test the targets for rare earth elements, copper and other base metals, but the magnetic anomalies themselves are not evidence of confirmed mineralisation.

Low-level survey sharpens target definition

The survey covered about 196 line-kilometres across the Accra, Cadix and Abenab blocks, with east-west flight lines spaced 50 metres apart and the magnetic sensor flown at roughly 30 metres above ground. Cazaly said the detailed dataset substantially improves on historical regional aeromagnetic information and provides magnetic models to guide drill planning.

Cadix now requires reassessment before any drilling is considered. The company said the anomaly had been mis-plotted in historic work on the original survey, a reminder that a target can lose its apparent promise before a drill rig ever arrives. Multiple other pipe-like magnetic targets across the broader licence also require further investigation.

Copper strategy expands beyond the magnetic targets

Abenab North covers more than 790 square kilometres in Namibia’s Otavi Fold Belt, about 20 kilometres from the historic Tsumeb copper mine. Cazaly is now refining a wider copper and base-metal program focused on Tsumeb-style mineralisation, particularly where structural disruption and copper geochemical anomalism occur near the contact between the Upper Tsumeb Group and the overlying Mulden Formation.

The southern part of the licence will be the initial focus. Planned work includes soil sampling, field mapping, detailed geophysics and drill testing, although Cazaly said it is still negotiating additional land access agreements for this broader program. Ground access has been secured for the Accra and Abenab targets.

Historical REE results provide a starting point

Earlier drilling by Kudu Minerals and Avonlea Minerals on smaller magnetic anomalies returned intersections including 45 metres at 0.73% total rare earth oxides, with a four-metre interval at 2.53% TREO, as well as 16.7 metres at 0.66% TREO and 39.7 metres at 0.55% TREO. Those results are historical and may not have been reported under the JORC Code 2012, so they provide exploration context rather than a current resource estimate.

The next material test is operational rather than geological: whether Cazaly can finalise collar locations and begin drilling in the remaining 2026 window. Results from Accra and Abenab will determine whether the refined anomalies represent mineralisation of interest, while the Cadix reassessment and land access negotiations will shape how far the copper strategy can progress.