HALLS CREEK COPPER PROJECTCAZALY PURCHASES JV PARTNER’S 80%NOW...

HALLS CREEK COPPER PROJECT
CAZALY PURCHASES JV PARTNER’S 80%
NOW 100% CAZALY OWNED
Cazaly Resources Limited (ASX: CAZ, “Cazaly” or “the Company”) is pleased to announce
the purchase of 80% of the Halls Creek project from 3D Resources Limited (“3D Resources”,
ASXDD) bringing Cazaly to 100% interest in the project.
The Halls Creek Project comprises granted Mining Lease 80/247 situated near the township of
Halls Creek covering part of the Halls Creek Mobile Zone which is highly prospective for a range
of commodities including base metals, gold, diamonds and nickel.
The project hosts the Mount Angelo Copper-Zinc deposit, an extensive zone of near surface
oxidised Cu-Zn mineralisation overlying massive Cu-Zn sulphide mineralisation. The JV was
formed during very different price environment for copper, Previous results from work conducted
by Cazaly prior to the joint venture included; 64m @ 2.72% Cu (1.13% Zn), 62m @ 2.41% Cu
(2.75% Zn), 37m @ 2.63% Cu (6.05% Zn), 16m @ 5.91% Cu, 18m @ 2.53% Cu (refer to CAZ
ASX announcements dated 11 December 2012 & 20 June 2013 and Table 1).
TERMS OF THE DEAL
a. Cazaly to pay a non-refundable deposit of $50,000 within 5 days of execution of the
Agreement
b. At Completion, pay 3D Resources $200,000 (following standard Conditions Precedents
being satisfied)
c. Pay 3D Resources $250,000 upon production of minerals in a commercial and saleable
quantity

$500k seems cheap, with no ongoing interest?
Does anyone know how much we spent on Halls Creek?