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Just like the Gruyere deposit, which holds six million ounces, CAZ’s Mount Venn Gold Project contains large internal granites and favourable host lithologies that don’t require drilling into fresh rock, with both of the projects within the region’s Yamarna Shear Zone.
While the Mount Venn project remains the immediate priority (and opportunity), CAZ has proven track record of acquiring, developing and adding value to a range of resources projects.
Previous exploration at the project, which covers approximately 242 square kilometres, has defined several areas of significant cobalt and nickel mineralisation.
Some of these areas have been historically mined, dating back as early as the 1890s.
A diverse portfolio of quality assets brings a high degree of flexibility to junior resource explorers and aspiring producers.
These deposits typically contain relatively rich cobalt values, with minor nickel and copper credits, and have been worked historically with high cobalt recoveries.The new results included rock chip grades of up to 1.4% cobalt, with an overall average grade of 0.62% cobalt.Add to this historic mining from several locations at the project and there seems to be is significant potential to extend known deposits as well as make new discoveries within the project area.The region also has the potential to host an extensive gold project, which we have reason to believe could be a compelling geological lookalike to 5 million-capped Gold Road Resources’ (ASX: GOR) Gruyere gold deposit at its Yamarna Gold Project.Of course, CAZ remains a speculative stock and investors should consider professional financial advice if considering this stock for their portfolio.
CAZ is currently reviewing the potential of the several untested geochemical nickel-copper anomalies located within Mount Venn project.