Cazaly Resources Ltd (ASX:CAZ) has received encouraging results from the geophysics and drilling programs at its Mount Venn Gold Project in Western Australia.
The highlight results from the drilling program includes:
- 4 metres at 2.14 g/t gold;
- 4 metres at 0.18 g/t gold; and
- 39 metres at 2290 ppm zinc.
Following the grant and obtaining access to the project, Cazaly conducted its maiden drilling campaign at Mount Venn earlier this year.
The targeting was largely based upon anomalous gold and pathfinder geochemistry in association with favourable lithologies and structural positions defined from geophysics and previous mapping.
The program proved to be highly successful in defining a major gold mineralised structure at Three Bears area and outlined widespread zinc anomalism at Rutters.
Cazaly’s second phase of drilling has confirmed the extension of the mineralised trend to over 3 kilometres at the Three Bears gold prospect.
The company has also processed induced polarisation (IP) surveys which point towards thick zinc mineralisation at the Rutters prospect.
The company is planning reverse circulation holes to test the IP anomaly with drilling to commence in early September.
Cazaly’s shares have surged circa 14% intra-day and were last trading at $0.04.