Cazaly Resources: A rolled gold new project with serious looking walk up drill targets
Cazaly Resources Managing Director Tara French on 3AW & 2GB Bulls N' Bears Report
Listen to ASX-listed Cazaly Resources Managing Director Tara French talk to Matt Birney on the Bulls N’ Bears Report about Cazaly’s deal to farm into an unloved gold project that boasts some extraordinary old drill results that are begging to be followed up.
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RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears brought to you today by Cazaly Resources
Matt Birney - ASX code: CAZ
Matt Birney - I'm Matt Birney and I'm joined now by the Managing Director of Cazaly Resources, Tara French
Matt Birney - Hi Tara
Tara French - Hi Matt
Matt Birney - Okay Tara so Cazaly recently pivoted back into gold with a deal to farm into Brightstar Resources' Goongarrie Gold project just north of Kalgoorlie.
Matt Birney - Firstly just set the scene for me geologically at this project. What does the underlying geology look like and why do you like it?
Tara French - This is a fantastic play Matt, so we've got a stack of greenstone to test and we're on the Bardoc Tectonic Zone which is actually a shear that holds mineralization, runs through the Super Pit, through Paddington and straight through our leases.
Matt Birney - All right so as I see it there's about three or at least three really good looking targets at this project. From the south to the north they're Hastings, Duke of York and Sir Laurence, let's start with Hastings what do you like about that prospect?
Tara French - Oh well for starters immediately to the south we have the Aphrodite discovery so that's over 1.7 million ounces which is exciting but on our leases we're on the same structure and we've got some pretty impressive intercepts there 38 meters at 3.1 grams per tonne and that extends from 62 meters to the end of hole.
Matt Birney - It's still mineralized at the end of the hole is it?
Tara French - Yeah correct.
Matt Birney - Okay well just north of Hastings is the Duke of York prospect, are there any old drill numbers there worth talking about?
Tara French - Yeah absolutely this is a great little mineralized trend here, couple of caves and we've got some pretty impressive drill intercepts there too, 133 meters at 3.5 grams per tonne gold from 36 meters down hole and another one which is 8 meters at 10.7 grams per tonne from 75 meters down hole.
Matt Birney - In the northern part of this project you've got the Sir Laurence prospect, what are the best historic drill numbers up there?
Tara French - Sir Laurence is a really interesting discovery it's a really large footprint about 2 and 1/2 km long and we've got 3 meters at 6.5 grams per tonne there from 86 meters down hole and also from diamond hole we had 5 meters at 4.7 grams per tonne from 113 meters down hole.
Matt Birney - Very quickly how much did pay Brightstar to get into this project and how much will you spend exploring it?
Tara French - So there was no upfront cash payment, all our money is going to go into the ground which is fantastic so it'll be a $3 million spend ultimately for an 80% interest.
Matt Birney - Tara French from Cazaly Resources.
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears.
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