CAZALY RESOURCES LIMITED Cazaly Resources Limited announced that the first on ground regional exploration programs were completed across the Yabby tenements, located in the north-eastern goldfields near Laverton, and across the recently granted tenements on the Ashburton Project, located in the Pilbara region of Western Australia. A total of 1,211 surface samples were collected across the Ashburton Project during November and December 2021 to: provide a regional scale geochemical database across the tenement package, refine, previously identified structural targets areas, and provide sufficient information across the vast 2,450km2 project area to prioritise gold and base metal targets for further work. In addition, 23 rock chip samples were collected where outcrops showed visual signs of significant vein material, alteration or sulphide mineralisation.
All samples were submitted to the laboratory in December 2021, however due to significant delays with laboratory processing, analytical results are not expected until mid February 2022. Cazaly holds the rights to a major land position covering more than 2,450km 2 in the Ashburton Basin, in the Pilbara region of Western Australia. The project covers major regional structures considered to be highly prospective for major gold mineralisation and occurs in the region hosting Northern Star's Paulsen's gold deposit and Kalamazoo's recently acquired Mount Olympus gold deposit.
The Yabby tenements are located 10km to the west of Laverton in the north-eastern goldfields of Western Australia. The project area covers 16km2 of the highly prospective Laverton Greenstone Belt and has potential for new nickel and gold discoveries. Tenements overlie the interpreted continuation of the mineralised ultramafic host to Poseidon's South Windarra nickel mine and are positioned directly to the north of the Lady Julie Gold deposit where gold mineralisation extends from surface with recent drill results including 22m @ 4.1 g/t gold from surface, and 16m @ 5.59 g/t gold from 20m.
Field work consisted of the collection of 209 lag samples on a 400m x 200m grid across the entire project area to identify targets for follow up exploration. Samples have been submitted to the laboratory in Perth for multi-element analysis. A turnaround of approximately 12 weeks is expected.
