Cazaly Resources Limited has secured the full grant of all five tenements comprising the Romano Gold Project in Western Australia, finalising the tenement acquisition component of its joint venture with Dundas Minerals Ltd.

Under the agreement, Dundas Minerals can earn an 80% interest in the project by funding $2,000,000 in exploration expenditure within two years. Cazaly retains a 20% free-carried interest up to the completion of a positive feasibility study, with total cash and shares consideration of $1.7M due to the company.

The Romano Gold Project covers approximately 800 square kilometres along the eastern margin of the Yamarna Greenstone Terrane in the Mount Margaret Mineral Field, located approximately 145 kilometres northeast of Laverton and adjacent to the operating 6.05Moz Gruyere gold mine. Drilling completed across the tenure to date remains shallow, wide-spaced, and first-pass in character, with key mineralised structures yet to be tested below the base of oxidation.

“This is a significant milestone for the Romano project and puts Dundas on the ground to complete native title access for exploration activities. This is an excellent outcome for Cazaly shareholders, with total cash and shares consideration of $1.7M due to the Company. Cazaly retains a valuable free-carried 20% interest in this large-scale project while Dundas funds exploration. We look forward to Dundas advancing the project with systematic exploration across the Romano tenement package.” — Tara French, Managing Director

Dundas Minerals plans to progress native title, heritage, and access approvals, compile and reinterpret historical datasets, and design the first systematic reverse circulation and diamond drilling programmes across the tenement package.

Read the full announcement: Romano Tenements Fully Granted for Total Proceeds of $1.7M