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.