Cazaly Resources has exercised the option to purchase all the shares in private exploration company Yamarna West Pty Ltd under the terms announced earlier this month.
Yamarna West’s key asset is exploration licence application E38/3111 which is highly prospective for gold. It covers the majority of the Mount Vein greenstone belt located in the north-eastern goldfields of Western Australia.
Cazaly said it is currently reviewing the database and planning future exploration programmes whilst negotiating access arrangements.
“The exercise of the option allows Cazaly to expedite land access and progress the exploration planning for this very exciting project,” said Cazaly’s joint Managing Director Nathan McMahon.