Cazaly Resources (ASX:CAZ) secures Abenab North in Namibia’s Otavi Copper Belt

Cazaly Resources has expanded its African footprint with the grant of an exclusive prospecting licence over the Abenab North Project in northern Namibia, securing a large landholding within the Otavi Copper Belt and close to the historic Tsumeb Copper mine.

Covering more than 790km2, the project sits in a district known for copper and rare earth element mineralisation, supported by historical drilling and recent geophysical reinterpretation.

Highlights

• Exclusive prospecting licence granted over +790km2 at Abenab North, northern Namibia
• Located in the Otavi Copper Belt, approximately 20km east of the historic Tsumeb Copper mine, which produced 30Mt @ 4.3% Cu, 3.5% Zn, 10% Pb
• Historic drilling returned 45m @ 0.73% TREO including 4m @ 2.53%, 16.7m @ 0.66% TREO including 1.2m @ 1.89%, and 39.7m @ 0.55% TREO including 3.6m @ 1.22%
• Reprocessed aeromagnetics highlight an untested 800m diameter magnetic high, the Cadix anomaly

The project is located approximately 450km by road from Windhoek, within the northern carbonate platform of the Pan African Damara Copper Belt.

Geologically, the tenure is dominated by dolomites and sediments of the Otavi Fold Belt, a setting that hosts several world class deposits including Tsumeb.

The Tsumeb Copper mine, situated around 20km west of Cazaly’s licence area, operated for more than 90 years before closing in 1996 and produced 30Mt of ore at grades of 4.3% Cu, 3.5% Zn and 10% Pb.

Regional prospectivity is reinforced by activity at Midas Minerals’ Otavi Copper Project, also located within the Otavi Fold Belt, where recent drilling returned multiple high grade sediment hosted copper intercepts including 17m at 7.24% Cu and 144.4g/t Ag, and 20m at 4.16% Cu and 13.5g/t Ag.

While separate from Cazaly’s ground, these results highlight the fertility of the broader belt.

At Abenab North, historical drilling by Kudu Minerals in 2004 confirmed the presence of several carbonatite pipes. Drill hole B6 intersected 45m of REE enrichment from 55m to end of hole, averaging 0.68% CeO2 + La2O3 + Nd2O3, including a higher grade zone of 2.36% over 4m.

These intersections correspond to Total Rare Earth Oxide values of 0.73% over 45m and 2.53% over 4m.

Further work in 2010 by Avonlea Minerals drilled Anomaly 10, intersecting fresh carbonatite with assays including 16.7m @ 0.66% TREO from 94.6m, including 1.2m @ 1.89%, and 39.7m @ 0.55% TREO from 100.6m, including 3.6m @ 1.22% and 3.0m @ 1.19%.

Cazaly Managing Director Tara French said

“this is a fantastic addition to our diversified portfolio. The project is highly prospective for copper and base metals and has proven REE mineralisation. We believe the project hosts significant potential for new discoveries, with a number of untested magnetic anomalies located within the licence area.”

More recently, Cazaly has reprocessed regional aeromagnetic data, identifying a large 800m diameter magnetic high known as the Cadix anomaly, which remains inadequately tested.

The company is assessing further geophysics, including magnetic inversions, to refine the target ahead of drilling, while finalising access arrangements with ground activities planned for the forthcoming quarter.

With historical REE intersections, proximity to long life copper production and defined geophysical targets, Abenab North positions Cazaly within a recognised African copper and critical minerals corridor.

Near term work will focus on advancing target definition as the company moves toward on ground exploration in a belt that continues to attract renewed interest.

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