Cazaly Resources Takes 100% Ownership at Halls Creek Project

THE BOURSE WHISPERER: Cazaly Resources (ASX: CAZ) has purchased 80 per cent of the Halls Creek project from 3D Resources (ASX: DDD).

Cazaly Resources will now own the project 100 per cent.

The Halls Creek project comprises granted Mining Lease 80/247 situated near the township of Halls Creek covering part of the Halls Creek Mobile Zone which is considered highly prospective for a range of commodities including base metals, gold, diamonds and nickel.

The project hosts the Mount Angelo copper-zinc deposit, an extensive zone of near surface oxidised copper-zinc mineralisation overlying massive copper-zinc sulphide mineralisation.

“The company will be conducting a review of all previous exploration on the project,” Cazaly Resources said in its ASX announcement.

“There remains very good upside potential with mapping defining the untested northern extensions of the deposit including mapping out of the important Banded Iron Formation capping unit.

“Furthermore, downhole EM conductors previously defined have yet to be drill tested.”

“Whilst the company has greatly added to its portfolio of projects with this acquisition and the recent staking of the large Ashburton project, the company will also continue to focus on the potential acquisition of a further advanced project.”