Wall Street Wizardry
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

Wall Street Wizardry

Investing

Joint Venture Secured over Advanced Gold Project in Western Australia’s World Class Gold Mining District

by admin February 12, 2025
February 12, 2025
Joint Venture Secured over Advanced Gold Project in Western Australia’s World Class Gold Mining District

Cazaly Resources Limited (ASX: CAZ, Cazaly, or the Company) is pleased to announce that it has entered into an exclusive binding agreement with Brightstar Resources Ltd (ASX: BTR), to earn up to 80% equity in the Goongarrie Gold Project (Goongarrie, or the Project).

Highlights

  • Cazaly signs binding term sheet with Brightstar Resources to earn up to 80% of the Goongarrie Gold Project located in the Kalgoorlie-Menzies district in the Eastern Goldfields of Western Australia
  • The Project covers 12km strike of the Bardoc Tectonic Zone-Boulder Lefroy Shear Zone (BTZ), host to multiple world class gold deposits
  • Several high priority gold drill targets with growth potential
  • Gold mineralisation at the Hastings prospect extends for over 1km, and is open along strike and at depth. Anomalous intercepts include 38m @ 3.1g/t gold1
  • Cazaly to spend up to $3M on exploration to earn staged equity up to 80% of the Goongarrie Project

Cazaly’s Managing Director, Tara French comments:

“The Goongarrie gold project presents Cazaly with an outstanding opportunity to explore for new gold resources in a multi-million-ounce gold district. The sizeable land package has multiple gold targets

and is largely untested at depth. We are very much looking forward to generating new gold targets and drill testing the existing prospects. With the gold price breaking A$4,600 oz for the first time, and with a positive pricing outlook, it’s the perfect time for Cazaly to get back into gold. We are pleased to have entered into the agreement for nil cash or scrip consideration with all funding going ‘into the ground’. We look forward to advancing this project and to working closely with our new partners at Brightstar to maximise value for shareholders.”

Goongarrie Gold Project

Goongarrie is located in the northeastern goldfields, 90km north of Kalgoorlie, and is easily accessible via the Goldfields Highway that runs along the western boundary of the project area. The Project consists of 70km2 of greenstone sequence within the Kalgoorlie Terrain.

Importantly the Project covers twelve kilometers of the Bardoc Tectonic Zone (BTZ), which is the northern extension of the Boulder-Lefroy Shear Zone (BLSZ) to the south, one of the richest gold mineralised structures in the Yilgarn Craton. Subsequent exploration activities have identified two additional subparallel N-S structures that also have the potential to host significant gold deposits.

Material Terms of Joint Venture Agreement

The terms of the earn-in joint venture agreement for the Goongarrie Project, subject to Cazaly completing due diligence, are:

  • Cazaly to expend an initial $1m on exploration to earn a 25% interest;
  • Expend further funds of $1m to earn a 51% interest;
  • Expend further funds of $1m to earn to an 80% interest.

Tenements included in the Goongarrie Project are listed in Table 1.

Project History

The Goongarrie Project was acquired by Kingwest Resources Ltd (KWR) in 2019. In May 2023 KWR merged with Brightstar Resources Limited whose focus has now shifted away from the Goongarrie project following their recent merger with Alto Metals Ltd (ASX: AME)i.

Prior to KWR acquiring the Project, very little exploration activity had been completed across the project as work was focused at Menzies and Kalgoorlie. Historic work included soil sampling, trenching, auger drilling, shallow aircore drilling, and limited RC drilling. This work targeted oxide gold mineralisation at surface associated with the Bardoc Tectonic Zone-Boulder Lefroy Shear Zone (BTZ). Two gold deposits along the BTZ were initially mined in the late 1980s at Jennys Reward, and Goongarrie Lady which was recently re-commissioned by a private group. There is potential for the discovery of new gold deposits undercover along the 12km strike length of the BTZ and along largely untested parallel mineralised structures that run N-S through the length of the project.

Click here for the full ASX Release

This post appeared first on investingnews.com

previous post
Top 10 Copper-producing Companies
next post
New resistance battling Trump’s second term through onslaught of lawsuits taking aim at EOs

Related Posts

Editor’s Picks: Gold Hits Another New High, Then...

April 5, 2025

Crypto Market Recap: Trump Tariff Turmoil

February 4, 2025

Michael Campbell: Gold, Uranium, Oil/Gas — Bullish as...

February 3, 2025

Opawica Explorations Announces Non-Brokered Private Placement for Aggregate...

March 15, 2025

Cyclone Metals, Vale to Develop Iron Bear Project...

February 20, 2025

US Policy Momentum, Clinical Progress Fueling Psychedelics Market...

May 9, 2025

Trump Ties Ukraine Aid to US$500 Billion in...

February 14, 2025

NASA Astronauts Return to Earth on SpaceX Capsule...

March 21, 2025

Altech – CERENERGY Cells Test Safe Under Extreme...

April 3, 2025

Refurbishment of Toll Milling Plant on Track

April 30, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Editors’ Picks

    • 1

      Financial Agreement signed releasing $2M grant

      January 23, 2025
    • 2

      US security contractor will take charge of key checkpoint in Gaza as Israeli forces withdraw

      January 25, 2025
    • 3

      Trump re-designates Iranian-backed Houthis as terrorists: ‘Threaten[s] security of American civilians’

      January 23, 2025
    • 4

      Cyclopharm Signs US Agreement with HCA Healthcare for Technegas®

      January 23, 2025
    • 5

      Netflix shares soar as company reports surging revenue, tops 300 million subscribers

      January 23, 2025
    • 6

      FDA officially authorizes Zyn nicotine pouches for sale following health review

      January 23, 2025
    • 7

      Universal’s ‘Wicked: For Good’ creates a unique marketing challenge

      January 26, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: wallstreetwizardry.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 wallstreetwizardry.com | All Rights Reserved