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Cazaly Resources Limited

Cazaly Resources is a junior explorer which is nimble in identifying and securing exploration opportunities which will deliver shareholder value. The experience of the Board has enabled the Company to opportunistically secure a large prospective copper -cobalt project in Namibia when many other companies would not be aware of the opportunity.

Overall the Cazaly share price will be driven by exploration results emerging from the Kaoko Kobalt Project and given the high level of prospectivity within the tenement for the two mineralisation target styles does bode well for
potential success.

Cazaly Resources Limited is a Perth based Australian diversified mineral exploration and resource development company. It has been listed on the Australian Stock Exchange since October 2003 and has demonstrated a track record of being nimble and flexible in its approach to deliver shareholder value.

The principals, joint Managing Directors Nathan McMahon and Clive Jones, have the expertise and experience to identify significant projects in Australia and Southern Africa, having established a number of companies in the past. With the recent focus of the market on tech metals associated with the production of batteries including cobalt, it has been this Southern African knowledge which has enabled Cazaly to be able to secure the Kaoko Kobalt Project in northern Namibia.

Cazaly Resources has secured the right to purchase 95% of the Koako Kobalt Project in northern Namibia. The project is adjacent to Celsius Resources’ Opuwo Project where exploration success has established a resource base of 112.4Mt grading of 0.11% cobalt, 0.41% copper, and 0.43% zinc for 126,100t of contained cobalt, 464,280t of contained copper and 483,750t of contained zinc. This has led to an increase in Celsius’ market capitalisation to more than $120m.

The Opuwo style of mineralization forms in a prospective horizon called the Dolomite Ore Formation (“DOF”) and with recent applications for further ground, Cazaly has now secured approximately 80 km of this formation. 

A second target style is large stratabound copper-cobalt orebodies similar to the world-class Zambian Copper Belt. This target style may apply to the Kamwe prospect within Cazaly’s tenements and which is more than 20 km long and is represented by both anomalous cobalt in soils and a coincident magnetic low feature.

Exploration is being fast tracked with mapping and geophysics potentially leading to drilling in the September quarter. The Koako Kobalt Project value now overshadows the value of Cazaly’s other projects and the market will closely watch future exploration results.

Cazaly will also be focused on an option expiry in August 2018 and which could raise $2m for its exploration activities. We believe that exploration results emerging from Koako has the ability to raise the share price to ensure these options will be exercised. This will provide a 75% return to existing shareholders at the current share price.

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More details about Cazaly Resources Limited

Official website: www.cazalyresources.com.au

ASX on Hotcooper: http://hotcopper.com.au/asx/CAZ