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Cazaly cranks up WA gold hunt with geophysical survey

ASX-listed Cazaly Resources is set to launch an airborne electromagnetic, or “AEM” survey at its Ashburton gold project in WA’s Pilbara region, where it will test a number or regional structures considered highly prospective for large-scale mineralisation.

The campaign will cover 275 line kilometres and span across three blocks inside a trio of larger tenements.

The portion of the survey covering the first block will test a zone along the region’s Nanjilgardy fault, which has anomalous historical surface geochemistry and is associated with Kalamazoo’s Mt Olympus gold mine and Black Cat’s Paulsen’s gold mine.

Management says the data acquired across blocks 2 and 3 will be used to refine AEM anomalies discovered in publicly available survey data.

Curiously, Cazaly suggests block 2 is coincident with anomalous gold hits at its proximal New Finish prospect, where a 10km gold-copper trend has been defined.

Work at Ashburton will also include the acquisition of about 600 fine fraction soil and stream sediment samples bagged from untested areas. The program comes after a January campaign that scooped up more than 1200 specimens as part of an exploration drive aimed at building a regional-scale geochemical catalogue of the project’s mineralisation.

The company says it could blend the AEM survey data with the results of the surface geochemical samples to rank and prioritise areas for future exploration.

At its Yabby project, about 10km west of Laverton in WA’s Goldfields, the explorer has refined a suite of discrete gold targets following an infill surface geochemical sampling exercise completed earlier this month.

Under the program, the explorer bagged 246 samples across a number of anomalous gold trends.

Yabby takes in 16 square kilometres of highly prospective ground in Laverton’s Greenstone Belt and is immediately west of the Chatterbox shear zone where ASX-listed Focus Minerals has established several gold mines.

Management says the campaign at Yabby will allow it to vector in on drill targets ahead of an air-core program.

Cazaly is a bit of an ASX veteran, having listed almost two decades ago and amassing a sizable source of royalties to fund its exploratory work since its debut. The Perth-based company appears well equipped to fund its precious metal hunt with its March quarterly report highlighting a strong cash position of $7.6 million.

The company’s balance sheet includes a trio of wholly owned projects, three joint venture interests and a pair of iron ore royalties.

Cazaly is also in thick of an RC drilling program at its flagship Halls Creek copper-zinc-silver project in WA’s East Kimberley region.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au

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