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Company Announcement: Copper Mineralisation Extended At MT. Angelo north

8th April 2013

By: Creamer Media Reporter

  

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Cazaly Resources Limited  (0.41 MB)

Cazaly Resources Limited has now received all assays from its second RC drilling programme over the Mt Angelo North Copper Prospect at the Halls Creek Copper Project, located in the Kimberley region of Western Australia. The Halls Creek Copper Project is subject to an agreement with 3D Resources Limitedwhereby Cazaly may earn up to a 75% interest in the Project. Joint Managing Director Nathan McMahon said the extension of the copper mineralisation at the Mt Angelo North Prospect represented further validation of the Company’s exploration strategy.

“We don’t know at this stage if we have an economic ore body, however with each hole we drill gain a greater understanding of the nature of the copper mineralisation of the prospect and are increasingly confident that we are on the right track.” Drilling was aimed at testing the immediate southern extensions of the deposit, confirming results from historic drilling, infill drilling and testing geophysical targets. Mineralisation comprises massive and stringer copper sulphides, principally chalcocite and chalcopyrite, characteristic of volcanic massive sulphide (VMS) mineralisation. The deposit also contains appreciable zinc and silver with subordinate gold and lead.

Maximum single metre values returned from this drilling programme included: 13.0% Cu, 10.1% Zn, 6.91% Pb, 420 g/t Ag & 2.66g/t Au. The drill programme was successful in extending the known copper-zinc-silver mineralisation along strike to the south, to the west and at depth. Diamond drilling is currently being planned to provide sufficient material for the next phase of metallurgical test work. The economics of the project are significantly enhanced by the shallow nature of the resource as well as Cazaly purchasing the pre-existing royalty.

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