The market is hot for decent copper / nickel exploration success atm.
You only have to look at KDR's run the last couple of days on their recent success at HOB project in the NT.
KDR's best hole yet: 36m @ 4.1% Cu equivalent including 10m at 10% Cu
From CAZ's latest presentation in mid Feb.....
Mt. Angelo Copper JV • Cazaly can earn 75% be completing PFS • Historic results include 57m @ 5.04 % Cu, 43m @ 2.11% Cu • Mineralisation open down plunge, no drilling beneath 100m vertical in target zone. Mineralisation over 250m strike. • Southern gossan untested • Porphyry target totally underexplored • Drilling commencing tomorrow . Metallurgical test work commenced • Exceptional first drilling results: 64m @ 2.72% Cu, 62m @ 2.41% Cu, 38m @ 2.65% Cu plus 13m @ 6.74% Zn & 15m @ 6.00% Zn • Contracts let for regional and local geophysical programmes • Cazaly finalises purchase of the 1.5% Net Smelter Royalty (NSR) covering the Mount Angelo North deposit • Porphryr target to be assessed
Drilling has been ongoing for approx one month now barring any stoppages due to wet weather.
I'm sure MM are fully aware of how the market is reacting to good results of late, so hopefuuly we are not too far off releasing something similar to pull the languishing SP out of the doldrums it's been stuck in...
CAZ Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
