Cazaly Resources Secures Large Landholding in Emerging Rare Earths District

THE BOURSE WHISPERER: Cazaly Resources (ASX: CAZ) has joined the Western Australia rare earths hunt by securing over 1,000 square kilometres of ground within the emerging REE district of the Gascoyne Province.

Cazaly Resources has picked up a total of six tenements, that together form the Lyons project, which the company describe as being, “a very prospective package of ground in the Bangemall Basin”.

Four tenements were targeted and pegged by Cazaly around the Lyons River Fault and Talga Fault, with one of the four tenements now granted.

The remaining two granted tenements along the Lyons River Fault (E09/2671 and E52/4040), consolidate the Lyons project via an exclusive binding option agreement to acquire up to 100 per cent with private company Murchison REE Pty Ltd.

“The Gascoyne is emerging as a hot spot for rare earths and we are excited to have secured such a significant landholding in the region,” Cazaly Resources managing director Tara French said in the company’s ASX announcement.

“Importantly, the new tenements sit along the Lyons River Fault which is considered to be the conduit for mineralised fluids that formed the ferrocarbonatites which are host to the world-class Yangibana and Yin REE deposits.

“The structural complexity around the Lyons River Fault highlights the potential for further discoveries along this structure.

“This package represents an excellent opportunity with only limited historical exploration for lead, zinc, and manganese.

“A reconnaissance field trip has been planned to determine the best exploration methods to apply to this area to advance the project and delineate REE targets early.”

The tenure is in a good neighbourhood with Hastings Technology Metals (ASX: HAS) and Dreadnought Resources (ASX: DRE) REE projects located some 100 kilometres northwest from Cazaly’s tenement package along the Lyons River Fault.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE