Goongarrie DYOR Details

The conversation is a bit dead so i thought I would throw this in here. Here is some DYOR I did yesterday which may be interesting, may not be . . but meh.

This is based on all available public info the system could find.

Goongarrie Gold Project Insights - Underreported Prospectivity & Geological Significance:

• Bardoc Tectonic Zone (BTZ): The project’s geology is a major positive. The BTZ is essentially the same structure as the prolific Boulder-Lefroy Shear Zone (BLSZ) but extending north under lake sediments. Two small deposits on the BTZ were historically mined – Jenny’s Reward and Goongarrie Lady (late 1980s). Goongarrie Lady was even recently re-opened by a private group, confirming remaining potential. Given BTZ’s pedigree (nearby Aphrodite >1 Moz is just 9 km south), Cazaly interprets significant “undercover” potential along the 12 km strike and on parallel structures that had only cursory testing.

• Underexplored Zones: Past explorers (pre-2019) did only limited shallow work – soil geochem, trenching, aircore and a few RC holes – mostly focused on surface oxide gold or where outcrop was accessible. Large areas, especially between Goongarrie Lady and Jenny’s Reward, lie under cover and saw little effective drilling. Cazaly noted multiple parallel shear zones on the property, identified by magnetics, that remain untested and could host new deposits. The plan is to drill below the cover (lake clays) and along strike/up-dip of known hits.

• Historical Drill Highlights: Several robust intercepts from earlier programs underscore the project’s prospectivity:

  • Duke of York (BTZ between old pits): 13 m @ 3.5 g/t Au from 36 m (hole JRRC008), and 8 m @ 10.7 g/t Au from 75 m (JRRC024). These remain open along strike and up/down-dip.

  • Hastings (Area 9): 38 m @ 3.1 g/t Au (hole KGA038) from 62 m to end-of-hole (100 m). This ended in mineralization, implying the gold zone could extend deeper. Hastings has >1 km strike of bedrock gold anomalism yet only sparse drilling.

  • Sir Laurence: An intriguing target where gold was found in paleo-channel gravels (e.g., 3 m @ 6.5 g/t in sands at 86 m depth). Sir Laurence hints at multiple gold events – in both ancient river gravels and possibly underlying bedrock – over a 2 km trend.

  • Great Eastern, New Boodgee, Franks Dam: Other prospects on the tenements with anomalies that require follow-up (though specifics were less reported).

• Reprocessed Geophysics & Recent Results: Cazaly is merging modern aeromag data to sharpen the view of BTZ’s structure beneath Lake Goongarrie. This could pinpoint dilational jogs or splays where gold might concentrate. Also notable is nearby exploration success in early 2025 by Gorilla Gold at Lakeview (just off Cazaly’s ground): they drilled 96 m @ 2.5 g/t (incl. 20 m @ 6.1 g/t) in a similar structural setting. This “eyebrow-raising” intercept next door validates the concept that big, previously unrecognized mineralization can exist under cover. With gold at ~A$2,800/oz in 2024–25 (near record highs), any significant find at Goongarrie could have outsized economic impact compared to years past, improving project economics for lower-grade bulk tonnage or high-grade shoots alike.

In summary, Goongarrie’s prospectivity appears underappreciated historically. Cazaly’s systematic approach – relogging data, geophysics, and aggressive drilling – aims to surface that hidden value. If successful, this could position Cazaly with a major gold asset in a tier-1 district.

Additional Market-Sensitive Factors

Several other developments from Jan 2024 to Apr 2025 could influence investor sentiment and CAZ’s share price:

• Executive Changes & Management: As mentioned, Tara French’s transition to MD was well-received given her technical background. The market often reacts favorably to experienced geologists leading juniors, expecting savvy project selection and exploration success. No negative governance issues were reported; in fact, having a female MD in a mining junior has been highlighted as “modern management” in media (Cazaly even produced a podcast reel on this in Jan 2024), potentially broadening investor appeal.

• Legal or Regulatory Matters: Cazaly has navigated environmental and First Nations regulatory aspects, particularly in Canada. The Carb Lake drilling delay in Aug 2024 was explicitly due to First Nation engagement – while a short-term setback, Cazaly’s culturally sensitive approach might safeguard it from protracted legal disputes or permit denials. In WA, Cazaly must obtain routine drilling permits; any delays in heritage surveys at Goongarrie or slow DMIRS approvals could momentarily affect timelines, but nothing major has surfaced publicly through April 2025.

• Partnerships & M&A Rumors: Given its track record (acquiring and vending projects), Cazaly occasionally is subject to speculation. For example, as lithium and REE assets gained attention in 2024, there were market rumors of potential strategic partners for the Canadian projects (no formal offers known). Also, Brightstar Resources retaining 20% of Goongarrie means any significant discovery could make Goongarrie a takeover target or lead to corporate moves (Brightstar itself is focused elsewhere).

• Commodity Price Effects: Cazaly’s portfolio spans gold, lithium, REEs, copper. The sustained high AUD gold price (~$2,600–2,800/oz) improves the economics of Goongarrie and may increase the in-ground value of any resource defined, positively influencing investor perception of Cazaly’s gold strategy. Similarly, strong lithium prices in 2024 kept interest in James Bay assets high – even after Cazaly reduced funding at Sundown, the mere location and scale of that project positioned the company as a speculative lithium play (supporting its market cap). Conversely, any softness in iron ore prices has limited direct impact since Cazaly sold its iron projects, although its Parker Range royalty is essentially a long-dated option on iron ore production (MinRes has yet to publicly develop Parker Range as of 2025).

• Market Sentiment & Capital Moves: By April 2025, small-cap explorers in critical minerals have been in favor, which likely helped Cazaly’s multiple successful capital raises. The company’s ability to repeatedly raise funds (e.g., another $1.7M via placements in late 2024 as hinted by share issuance data) without a major share price drop indicates investor confidence. Any rumor of a large offtake or JV (for example, a hypothetical partnership with a downstream REE processor for Carb Lake) could spur upside.

• Historical Reputation: Cazaly is somewhat known for its “David vs Goliath” battle with Rio Tinto in the mid-2000s over the Shovelanna iron ore lease. While historical, it cemented the image of Cazaly as a tenacious opportunist. This cultural element means traders often watch CAZ for bold moves. The push into Canadian critical minerals fits that mold – going global to find the next big thing. So far, the strategy appears measured and well-communicated, helping maintain positive sentiment.

In conclusion, Cazaly Resources from Jan 2024 to Apr 2025 has transformed into a focused explorer with an eye on emerging opportunities in Canada and a foothold in a promising WA gold belt. Key catalysts going forward include the resolution of Carb Lake’s drilling pause (and results of that drilling when it occurs), discovery news from Goongarrie (drilling likely in 2025), and any further strategic deals. The company’s proactive stakeholder engagement and prudent capital management have, for the most part, bolstered investor perception in this period. Nevertheless, it remains a high-risk/high-reward exploration stock, sensitive to drill results and commodity cycles. Investors will be weighing the substantial upside of discoveries against the execution risks in multiple jurisdictions.

Sources:

• Cazaly Resources – Carb Lake REE Project background; First Nations & permit updates.

• Cazaly Resources – Sundown Lithium Project overview; Jan 2024 Canadian projects update.

• Investing News Network – Parker Range sale to MinRes (2019).

• Business News / Small Caps – Gold Valley initial agreement (2019).

• Cazaly ASX Announcements – Goongarrie JV Terms (Mar 2025); Historical drill results and prospect details.

• MarketOpen (Market commentary) – Goongarrie’s potential & recent results (Mar 2025).

• Cazaly ASX Announcement – $2.1M Placement & Equinox sale (Nov 2023).

• MarketScreener/MT Newswires – Share price reactions to news (e.g., +15% on JV, -18% on Carb Lake delay).

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