Cazaly Resources gains exploration licence and access grant for Mount Venn Gold Project

10 January 2017 (Last Updated January 10th, 2017 18:30)

Cazaly Resources has announced that it has been granted an exploration permit and received Exploration Licence E38/3111 for the Mount Venn Gold Project.

Cazaly Resources has announced that it has been granted an exploration permit and received Exploration Licence E38/3111 for the Mount Venn Gold Project.

The project is located nearly 125km north-east of Laverton in Western Australia.

The permission follows the Department of Aboriginal Affairs recommendation to grant access permits to the property that is located within the Cosmo Newberry Aboriginal reserve. This reserve is subject to the Native Title claim by the indigenous Yilka people.

In July last year, Cazaly signed the Native Title agreement with the Yilka People and Cosmo Newberry Aboriginal Corporation (CNAC), covering the Mount Venn Gold Project.

Cazaly joint managing director Nathan McMahon said: “Finalising the grant and obtaining access to the Mount Venn Project will now see Cazaly commence its on-ground exploration at Mount Venn.

"Finalising the grant and obtaining access to the Mount Venn Project will now see Cazaly commence its on-ground exploration at Mount Venn."

“We would like to thank the Central Desert Native Title Service, the Yilka People and the Cosmo Newberry Aboriginal Corporation for their support in achieving this and the company looks forward to a highly active 2017 on this exciting project.”

Cazaly has conducted a thorough re-assessment and re-processing of historic regional geophysics, geology and geochemistry of the project that exhibited highly prospective gold targets.

The company has now started the arrangement to initiate preliminary work at the project, including drilling. Drilling will focus on the Three Bears prospect area.

Cazaly has scheduled drilling later this month, which will include a programme of reverse circulation and aircore operations.

The Mount Venn project is nearly 40km west of Gold Road Resources’ Gruyere gold deposit, which carries 148Mt at 1.30g/t Au for 6.16 million ounces.

Recently, Gold Road Resources announced to sale 50% stake in Gruyere and other surrounding resources to Gold Fields.