Cazaly Resources has uncovered high grade copper results from its Kaoko Kobalt project in Namibia.
Preliminary ground reconnaissance work conducted at the project – in which Cazaly has the right to earn a 95% interest- has identified outcropping copper bearing gossans at the Kamwe target with samples returning 17.8% and 10.2% copper.
The project has only had cursory exploration in the past, the results of which highlighted widespread base metal mineralisation.
Initial work by the Company included a review of historical data and geological and logistical reconnaissance of the Kamwe target.
The high-grade copper values from sampling of the gossans at Kamwe are very encouraging and point to the significant potential of the Kaoko project for copper-cobalt mineralisation.”
Cazaly Managing Director Clive Jones said: Follow up work is now taking place with detailed geological mapping of the Kamwe target, further reconnaissance and the engagement of Skytem ApS to conduct an airborne EM/magnetic survey planned to commence in August.
The survey is designed to delineate conductive horizons including sulphide mineralisation associated with base metals to depths of around 300-400 metres.
SkyTem has recently commenced working in-country utilising its equipment to fly surveys for neighbouring Celsius Resources and Namibian Critical Metals at properties adjacent to the Kaoko Project.
Geological mapping has also commenced ahead of the airborne programme to assist in the interpretations of any anomalies defined from the survey. It is planned to later follow up the targets generated by this work with drilling.
The stock (ASX:CAZ) was last trading at 4c on Wednesday.