Cazaly Resources Limited has met the Stage 2 expenditure milestone for the Goongarrie Gold Project in Western Australia, lifting its majority ownership interest to 51% twelve months ahead of schedule.

Located 90 kilometres north of Kalgoorlie, the project is held through a staged farm-in agreement with Brightstar Resources Limited that Cazaly entered in March 2025. Under the initial terms, Cazaly had until September 2027 to spend $1 million on exploration for Stage 2, but has completed the expenditure requirement early through an intensive on-ground program.

The work completed to earn the 51% stake includes more than 5,000 metres of reverse circulation drilling, approximately 14,000 metres of aircore drilling, ground gravity surveys, and detailed 3D geological modelling. Exploration along the Menzies Shear Zone within the Bardoc Tectonic Zone has confirmed a continuous gold mineralised trend grading above 1 g/t, alongside high-grade gold mineralization extending more than 200 metres below surface across a 400-metre strike from the Duke of York to Duchess prospects.

“This disciplined approach to exploration activities at Goongarrie has confirmed gold mineralisation across multiple high-grade prospects associated with the Menzies Shear and identified new targets that require further work. We are encouraged by the results we have received to date, and are working through the targets to prioritise the next phase of drilling activity” — Tara French, Managing Director

Activity across the wider Eastern Goldfields district remains robust. Nearby, Beacon Minerals reported diamond drilling results intersecting 13.3 metres at 16.32 g/t gold at the Iguana deposit within the Lady Ida Project.

To reach the maximum 80% interest in the Goongarrie joint venture, Cazaly must spend an additional $1 million within 18 months, with a final deadline of March 2029. The company is currently awaiting assay results from its recent aircore drilling program at the Hastings gold prospect, which are expected during the September 2026 quarter to help rank targets and guide the next phase of drilling.

Read the full announcement: Cazaly Earns 51% Ownership of the Goongarrie Gold Project