• Large scale project covering +790km2 located in the Otavi Copper Belt, Northern Namibia
• Highly prospective for Copper and Rare Earth mineralisation near world class Tsumeb Copper mine
• Multiple high-priority, walk-up copper and REE targets, including an untested +800m in diameter, magnetic anomaly

Cazaly Resources Limited (ASX:CAZ) is pleased to announce the grant of the exclusive prospecting licence covering a large highly prospective area at Abenab North, Namibia. The project is located 450km by road from the capital of Windhoek, within the northern carbonate platform of the Pan African Damara Copper Belt. The project is dominated by dolomites and sediments of the Otavi Fold Belt, which is host to several world-class mineral deposits, including the historic Tsumeb Copper mine. The Tsumeb Copper mine, located approximately 20km west of Cazaly's tenure, produced 30Mt @ 4.3% Cu, 3.5% Zn, 10% Pb for over 90 years. The region also hosts Midas Minerals Ltd's high-grade Otavi Copper Project. Previous drilling conducted by Kudu Minerals (Pty) Ltd in 2004 confirmed the presence of several carbonatite pipes, with encouraging rare earth element (REE) intersections, including 45m @ 0.73% TREO and 16.7m @ 0.66% TREO. Cazaly has reprocessed the regional aeromagnetics, which highlighted a large 800m diameter magnetic high, the Cadix anomaly, which remains to be adequately tested. The Company is assessing further geophysics to refine the anomaly for drill testing and plans to conduct its ground activities in the forthcoming quarter.

The Company is assessing further geophysics, including magnetic inversions, to refine the Cadix anomaly for drill testing. The Company is currently finalising access arrangements and plans to conduct its ground activities in the forthcoming quarter.