Cazaly Resources (ASX:CAZ) secures access to Cadix Target at Abenab North

Cazaly Resources has announced the execution of a formal access agreement at Cadix Farm in Namibia, covering the Cadix anomaly within the company’s Abenab North Project (EPL9852).

The agreement allows the company to proceed directly to geophysical refinement and drill planning, with a field program scheduled for Q3 2026.

Highlights

• Ground access achieved to the largest and highest priority target at Abenab North
• Cadix identified as an approximately +800m diameter untested magnetic high
• Historical drilling over adjacent carbonatite pipes confirmed REE mineralisation
• Historical results include 45m @ 0.73% TREO, including 4m @ 2.53% TREO
• Licence area covers approximately 790km² within the Otavi Fold Belt in northern Namibia
• Field activities scheduled for Q3 2026

The Abenab North Project covers 790km² within the African Damara Copper Belt in northern Namibia, approximately 450km by road from Windhoek.

The licence area is dominated by dolomites and sediments of the Otavi Fold Belt, with the Tsumeb Copper Mine located approximately 20km west of Cazaly’s tenure having produced 30Mt @ 4.3% Cu, 3.5% Zn and 10% Pb over more than 90 years of operation.

The company states that the project is prospective for copper, base metals, rare earth elements and vanadium, with multiple carbonatite pipes confirmed by historical drilling and rare earth element mineralisation intersected across several anomalies.

Reprocessing of regional aeromagnetic data identified the Cadix anomaly as an approximately +800m diameter magnetic high, which the company states is the largest magnetic feature identified within the licence area and remains untested.

Historical drilling undertaken by Kudu Minerals in 2004 and Avonlea Minerals between 2010 and 2011 targeted smaller magnetic anomalies across the licence area.

Results disclosed in the announcement include 45m @ 0.73% TREO from 55m in hole B6, including 4m @ 2.53% TREO, 16.7m @ 0.66% TREO from 94.6m in ABD006, including 1.2m @ 1.89%, and 39.7m @ 0.55% TREO from 100.6m in ABD007, including 3.6m @ 1.22%. Cadix itself did not receive drilling during these historical programs.

Cazaly Managing Director Tara French said:

“Cadix is the target we have been working towards since we first reprocessed the aeromagnetics and recognised the potential. The target is a large, coherent magnetic anomaly that remains untested and represents a rare opportunity. Securing access to this ground is a significant milestone and we expect to be on site in Q3 2026.”

With access now secured, Cazaly stated that it will undertake mobilisation to site for initial baseline mapping activities, detailed magnetic surveys and finalisation of drill program design ahead of field activities scheduled for Q3 2026.

The company stated that the field program is scheduled for Q3 2026 following completion of geophysical refinement and drill planning activities.

Cazaly also stated that further updates will be provided as the program advances.