Cazaly’s waiting for the big one. Picture: Getty Images
Cazaly’s getting pumped for a big Bommie system as copper hits start stacking up
Mining
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Cazaly has wrapped up drilling at its Halls Creek project in WA while keeping up the exploration momentum with continued activities at the Vanrock project in Queensland.
The 19-hole reverse circulation program totalling 4,049m was designed to test the Moses Rock electromagnetic conductor and the Bommie porphyry copper system.
At Bommie, 16 holes totalling 3,395m were drilled to test the continuity of broad copper intercepts across the prospect, which is located about 2.5km southwest of Mount Angelo North. Following a 2-3 month timeframe for the receipt of assays, a maiden resource estimation at Bommie is anticipated to be completed by the end of the calendar year.
Visually estimated sulphide percentages varied in all drill holes from trace levels up to 10% with pyrrhotite, pyrite, chalcopyrite, chalcocite and molybdenite identified in the RC drill chips.
Cazaly Resources (ASX:CAZ) has interpreted Bommie as a large low grade copper system with an extensive surface geochemical signature which provides further encouragement for a large mineralised system.
Notable historical assays include 170m at 0.4% copper including 23m at 1% copper and 178m at 0.3% copper.
Queensland exploration
Over at the Vanrock project, the company has completed an airborne EM survey using the Xcite system, a high-resolution helicopter borne time domain EM and magnetic survey system, to provide more detail on the original airborne EM anomaly identified by Geoscience Australia.
It has now engaged Townsville-based heritage consultants to conduct a cultural heritage survey.
Once survey clearances are received, the company will then carry out earthworks to establish site access for diamond drilling in early September.
The Vanrock drill target is a coincident magnetic and airborne EM anomaly on the edge of a palaeo-caldera while the project is considered to have potential for Andean-type silver-tin-zinc-copper-lead mineralisation.
Cazaly has the option to acquire up to 90% of the project.
This article was developed in collaboration with Cazaly Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
