• Cazaly has initiated the staged earn-in joint venture agreement with Brightstar Resources Ltd for up to an 80% interest in the Goongarrie Project
• The Project covers 12km strike of the Bardoc Tectonic Zone (BTZ), host to multiple world class gold deposits, and is highly prospective for gold
• Drill planning underway for the Duke of York and Hastings gold prospects

Cazaly Resources Limited (ASX: CAZ) has exercised the option to proceed with the earn-in Joint Venture with Brightstar Resources Ltd (ASX: BTR) at the Goongarrie Gold Project. The terms of the earn-in joint venture agreement include Cazaly spending $1 million on exploration within 12 months to earn a 25% interest, a further $1 million within 18 months to earn 51%, and an additional $1 million within 18 months to earn 80% interest. The Goongarrie Project covers 12km strike of the Bardoc Tectonic Zone (BTZ), which is host to multiple world class gold deposits and is highly prospective for gold. Cazaly is planning various drilling programmes to immediately test known targets and to explore under-explored key structural settings near known gold mineralisation. Priority reverse circulation (RC) drilling is being planned to validate and follow up on historical gold drill intercepts at the Duke of York and Hastings gold prospects. The company will also undertake a more regional aircore (AC) drilling campaign to test underexplored areas along the Bardoc Tectonic Zone. Prior to commencing exploration field activities, Cazaly requires heritage clearance, environmental clearance, and drilling approvals. The company will provide a timeline of events as exploration plans are finalised and approvals are in place.

Cazaly is eager to provide updates on its progress as it works towards securing approvals for access and is keen to get drilling as soon as possible. The recent success by Gorilla Gold at the nearby Lakeview prospect is a clear indication of the untapped potential in this district, and Cazaly looks forward to commencing its work.