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Cazaly Resources Completes Sundown Lithium Project Acquisition in Canada

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THE DRILL SERGEANT: Cazaly Resources (ASX: CAZ) kicked off lithium week at Diggers & Dealers by announcing it has finalised agreement terms to acquire up to 100 per cent of the Sundown lithium project, located in the James Bay lithium province, Quebec, Canada.

In the lead up to the company’s presentation at The Resources Roadhouse Steak Sandwich Showdown in Kalgoorlie, Cazaly informed the market of the Sundown project being an important acquisition.

The Sundown project comprises some 510 mining claims covering an area approximately 260 square kilometres and possessing over 200 documented outcropping pegmatites.

The large tenement holding is strategically positioned between Allkem’s (ASX: AKE) James Bay deposit with a lithium reserve of 37.2 million tonnes at 1.3 per cent lithium oxide (Li2O), and Patriot Battery Metals (ASX: PMT) Corvette lithium discovery, which is host to 70 lithium bearing pegmatites over a 214sqkm land package.

Further recent success in the region includes Critical Elements’ Rose deposit (37.2Mt at 0.94% Li2O), Nemaska’s Whabouchi deposit (36.6Mt at 1.3% Li2O) and Winsome Resources’ (ASX: WR1) Cancet exploration target with 15-25Mt at 1-2% Li2O.

“We are excited to be able to announce the completion of the acquisition of this special asset,” Cazaly Resources managing director Tara French said in the company’s ASX announcement.

“Through Sundown, Cazaly now possesses a major plot of land in an emerging lithium province with significant exploration potential courtesy of relatively untested, outcropping pegmatites.

“We are nestled in amongst some other major lithium projects and while our in-country exploration team have been delayed by the damaging forest fires, we cannot wait to get boots on the ground to start confirming targets once the area has been deemed safe for entry.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Cazaly Resources Secures Large Landholding in Emerging Rare Earths District

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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

 

Cazaly Resources to Acquire Canadian Lithium Project

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THE BOURSE WHISPERER: Cazaly Resources (ASX: CAZ) emerged from a Trading Halt to announce the acquisition of up to 100 per cent of the Sundown lithium project in Canada.

The Sundown project is in the James Bay lithium province, host to several advanced lithium projects and new lithium discoveries in Canada and comprises 510 mining claims covering pegmatite outcrops spanning over 260 square kilometres.

The project is located between Allkem’s (ASX: AKE) James Bay deposit with a lithium reserve of 37.2 million tonnes at 1.3 per cent lithium oxide (Li2O), and Patriot Battery Metals (ASX: PMT) Corvette lithium discovery, which is host to 70 lithium bearing pegmatites over a 214sqkm land package.

“We are extremely pleased to have an exclusive binding agreement to acquire the Sundown lithium project,” Cazaly Resources managing director Tara French said in the company’s ASX announcement.

“The project is an excellent addition to our recent Canadian rare earth elements project acquisition, and provides Cazaly with another excellent discovery opportunity, this time for lithium, another critical mineral.

“The project is a massive landholding in the heart of the James Bay lithium district, a district known for its very large scale and high-grade lithium resources.

“Data acquisition and compilation has commenced, and desktop studies are underway as part of our due diligence process, which will in turn advance the project and inform our exploration work plan moving forward.”

Cazaly explained that upon completion of due diligence, including a full assessment of all available data and the decision to complete the acquisition, an initial field reconnaissance mapping and rock chip sampling program will be completed to assess the large number of documented outcropping pegmatites for spodumene and lithium mineralisation.

This will in turn inform the company’s exploration strategy to drill test the best targets in the next phase of exploration.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE