Cazaly Resources (ASX:CAZ) has secured its initial 25% interest in the Goongarrie Gold Project, located 90km north of Kalgoorlie in Western Australia's northeastern goldfields, after meeting the first farm-in milestone with Brightstar Resources (ASX:BTR).
Under the joint venture agreement, Cazaly exercised its option in March 2025 to earn up to an 80% stake in the project by completing staged exploration expenditure.
The company completed 18 reverse circulation holes totaling 1,914m and 298 aircore holes totaling 10,315m during the initial nine-month farm-in period, identifying continuous anomalous gold mineralisation exceeding 1 g/t over a 1.3km strike from Goongarrie Lady to Jenny’s Reward.
Highlights included 19m at 1.5 g/t gold, including 4m at 4.7 g/t at the Duchess prospect, and 6m at 10.3 g/t and 10m at 5.7 g/t gold at Duke of York, while a costean sample at Mason's Flat returned 1m at 10.8 g/t gold.
The upcoming RC drilling campaign in Q1 2026 will test the 1.3km gold-mineralised trend along the Menzies Shear at depth to assess continuity and grade.
Cazaly Managing Director Tara French said, "The initial drilling campaigns successfully identified continuous gold mineralisation along the Menzies Shear corridor and highlighted several high-grade targets for follow-up."
The 70km2 project sits along the Bardoc Tectonic Zone, the northern extension of the highly prospective Boulder-Lefroy Shear Zone, and exploration has revealed additional subparallel structures with strong gold potential.
At the time of reporting, Cazaly Resources' share price was $0.029.