CAZ - Cazaly Resources

[greggles]

That single diamond drill hole at Vanrock is coming up in September. A lot going on at the moment. News can't be far away.

 

[greggles]

Drilling about to commence at Vanrock.

 

[barney]

Drilling about to commence at Vanrock.

Yeah, hold a small position so hopefully they dig up something worthwhile

 

[greggles]

CAZ continuing to be active on social media.



The link in the Tweet leads to a Mining.com.au article dated 10 August 2022 that outlines CAZ's Hall's Creek Project and its potential.

 

[greggles]

Ashburton Exploration Update announced today was shrugged off by the market. It was more of a summary than anything else.

Airborne Electromagnetic Survey. Check.
Fine Fraction Surface Sediment Sampling, Check.

Final word from MD Tara French sums up the current Ashburton position:

Cazaly’s MD Tara French commented “While we await final drill assay results for Vanrock and our Halls Creek Copper Project, we are pleased to be progressing exploration activities across our large landholding in the Ashburton. This geochemical sampling completes our comprehensive early-stage surface geochemical programme. This dataset, used in conjunction with all available geophysical data will aid in vectoring towards discrete targets within the Ashburton tenement package. Once the final EM results are received and interpreted, we will be able to utilise all datasets to rank and prioritise areas for further work.”

 

[barney]

Ashburton Exploration Update announced today was shrugged off by the market. It was more of a summary than anything else.

Yeah not sure why the news was taken so badly. Looks pretty innocuous at face value. Probably get some other news in a couple of days and be back up 13%, lol. Specs

 

[greggles]

Yeah not sure why the news was taken so badly. Looks pretty innocuous at face value. Probably get some other news in a couple of days and be back up 13%, lol. Specs

Only $128,000 in turnover today so just some weak hands exiting. I'm waiting for the Halls Creek assay results, which are due sometime this month.

 

[greggles]

Halls Creek Bommie Prospect assay results are in and it looks like a mix of positives and negatives.

Positives are broad widths and mineralisation from surface which means low cost production. Negatives are the low grades. Low grades are run of the mill with Porphyry copper deposits so I suppose there is no real surprise there.

Unfortunately these assay results just weren't impressive enough to move the share price north and it's still treading waters in the mid-3s.

 

[greggles]

Vanrock mostly a duster. 6.7m of mineralisation in a 521.2m diamond drillhole isn't exactly a spectacular result. CAZ not proceeding with the JV.

Disappointing but in the end it didn't cost CAZ much after the Queensland Government’s Collaborative Exploration Initiative grant. Share price steady at 3.3c.

 

[greggles]

Some good news for CAZ this morning on the lithium front, with infill surface sampling at the Kaoko Project in Namibia having been completed. The sampling was carried out in the north-eastern part of the project area where a recent data review highlighted the presence of a large lithium in soil anomaly stretching over 12km.

287 soil samples were collected from the area and sent for multi-element analysis. The assay results are expected to be received within eight to twelve weeks.

After some other disappointing results, CAZ management seem to be pining their hopes on the Kaoko Lithithium Project in Namibia.

 

[greggles]

CAZ and AKN sign MoU to commence a scoping study for the development of a consolidated base metal mining hub. Given the proximity of both companies projects in the area, it is a smart decision to join forces and plan project development together.

 

[greggles]

CAZ have identified a regional REE trend at their Ashburton Project in the Pilbara. This certainly brings an exciting new angle to Ashburton but management will need to push things forward fairly quickly.

I still believe that CAZ have tons of potential - Ashburton alone covers 2,450km2 in the Pilbara - but management need to find their focus and then push things forward as fast as they can. Their strategy has been a little scattershot in the last 12 months and I think the market will treat them better if they can demonstrate that not only does the company have potential but that they are actively realising it.

That being said, I like the REE angle and I hope it turns into something big.

 

[greggles]

CAZ up 10% today, possibly in anticipation of some news; the most likely being infill surface sampling results from the Kaoko Lithithium Project in Namibia

 

[greggles]

Namibia news not through yet, but this morning the company announced the occurrence of anomalous rare earth elements at their Ashburton project. Large strike zone but the TREO seems low. The CAZ share price has declined around 6.5% today, probably because these results were not what the market was expecting.

CAZ need something substantial to move the share price, and this isn't it.

 

[greggles]

Rock chip sampling at Ashburton has identified anomalous copper mineralisation over a 2km strike with up tp 32% copper found in rock chips.

This needs to be followed up immediately. Ashburton is huge and the sooner targets can be identified the better.

 

[greggles]

CAZ bouncing back 16.7% today, a welcome recovery after the dumping it has been on the receiving end of the last couple of days.

Not sure if the recent price action is connected to the AKN/CAZ Scoping Study that is due this month, but it wouldn't surprise me if it is. We'll find out one way or the other very soon.

 

[greggles]

This has come completely out of left field. CAZ are acquiring the Carb Lake REE Project in Ontario, Canada for C$100,000 (C$15,000 2 month option fee and then C$85,000 payment following satisfactory due diligence) plus a 2% smelter royalty.

Seems very cheap and I hope that is more a reflection on the quality of the deal CAZ have struck than the quality of the project itself.

With no exploration in over 10 years I imagine CAZ will want to get moving on this project ASAP to take advantage of the bullish REE market at present.

 

[greggles]

CAZ in a trading halt this morning pending the release of an announcement concerning an asset acquisition. No idea what this is all about but I look forward to finding out.

 

[greggles]

The big news is that CAZ has acquired The Sundown Lithium Project in the James Bay Lithium province in Quebec, Canada.

The project area is very large at 260 square kilometres and comprises 510 mining claims over 3 contiguous blocks and is located between two known large scale lithium deposits.

The project is early stage but the credentials and nearology look promising. Canada is a safe mining jurisdiction as well, so there is no sovereign risk.

Here are the terms of the deal:

Superficially this looks like a good deal. CAZ have quite a few other projects but I think management realise that base metals aren't as sexy as battery minerals and by leveraging a lithium project in a mining friendly country they hope to bolster market interest in the company.

So far this strategy seems to be working with CAZ having bounced 56% to 3.9c today, with a high of 4.3c. Not a bad result and hopefully a sign of things to come.

 

[barney]

I assume you still hold CAZ @greggles ? Welcome bounce after a torrid last 12 months.
I've had a couple of handfuls of these in the bottom draw for a while. Might be close to break even after today, lol.

Probably plenty of stale bulls wanting to exit in the short term. Medium term SP will be interesting.