Cazaly Resources Locks in Two Drill Targets Ahead of Maiden H2 2026 Copper Program
Key Takeaways
- Cazaly Resources has completed processing and interpretation of a high-resolution UAV aeromagnetic survey across three blocks at Abenab North, confirming two priority anomalies — Accra and Abenab north — as genuine magnetic source rocks ready for drill testing.
- The Cadix target has been downgraded after new data revealed it was an artefact of historic mis-plotting, removing it from the near-term drill queue and flagging it for reassessment.
- Copper-focused exploration targeting Tsumeb-style high-grade mineralisation is set to commence immediately across an approximately 25km strike length in the southern licence area.
- Maiden drilling remains on track for H2 2026, targeting REE, copper, and other base metal mineralisation within a 95%-owned, 790km² licence in one of Africa's most mineralised copper belts.
- The broader regional exploration program is subject to ongoing land access negotiations, introducing timing uncertainty beyond the two confirmed drill targets.
Drone survey sharpens drill targets as Cazaly readies maiden program at Abenab North
Cazaly Resources (ASX: CAZ) has completed processing and interpretation of a high-resolution drone aeromagnetic survey at its 95%-owned, 790km² Abenab North Project (EPL9852) in northern Namibia, delivering refined magnetic models for drill testing. The survey has confirmed two priority anomalies ready for follow-up, copper-focused exploration is set to commence immediately, and maiden drilling remains on track for H2 2026.
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September 2026 exploration highlights at a glance
- UAV aeromagnetic survey processing and interpretation now complete across three survey blocks (Accra, Cadix, Abenab)
- Accra and Abenab north anomalies confirmed as genuine magnetic source rocks and prioritised for drill testing
- Cadix target downgraded due to historic mis-plotting and flagged for reassessment before any drilling activity
- Copper-focused exploration targeting Tsumeb-style high-grade mineralisation set to commence immediately
- Maiden drilling on track for H2 2026, targeting REE, copper, and other base metal mineralisation
- Broader regional exploration program being planned, subject to ongoing land access negotiations
Inside one of Africa’s most mineralised copper belts
The Abenab North licence sits within the Otavi Fold Belt in northern Namibia, a carbonate-hosted base-metal province regarded as one of Africa’s most richly endowed mineral districts. For a junior explorer, positioning within an established, high-grade belt like this significantly de-risks the geological thesis — the rock systems are known to concentrate metals into high-value deposits.
The district benchmark is the historic Tsumeb Copper Mine, located approximately 20km from the Abenab North licence. Tsumeb produced an estimated ~30Mt grading 4.3% Cu, 3.5% Zn, 10% Pb, 95g/t Ag, and 50g/t Ge. This is a historic reference point only and does not represent any resource held by Cazaly. Nearby historic producers Kombat (~12.5Mt @ 2.6% Cu, 1.55% Pb, 18g/t Ag) and the Abenab vanadium mine (~1.85Mt @ 1.03% V₂O₅) further illustrate the district’s depth of mineralisation.
Active exploration in the same belt is also yielding results. Neighbour Midas Minerals Ltd (ASX: MM1) has reported high-grade intercepts at its Otavi Copper Project, including 50m @ 7.9% CuEq and 30.1m @ 5.35% CuEq. These are Midas results, not Cazaly results, and are referenced solely to demonstrate that high-grade copper discovery is active in the same geological setting.
Tsumeb-style mineralisation refers to a specific geological process: karstic dissolution (where acidic fluids dissolve carbonate rock to create voids), structural preparation along fold zones, and hydrothermal fluid flow then depositing metals into those deep pipe-like structures. The result is a vertically extensive, high-grade mineralised system.
Prior drilling by Kudu Minerals (2004) and Avonlea Minerals (2010–2011) on the Abenab North licence also intersected carbonatite-hosted rare earth element (REE) mineralisation, returning historical results including 45m @ 0.73% TREO, 16.7m @ 0.66% TREO, and 39.7m @ 0.55% TREO. These are historical results sourced from prior operators and may not be reported in accordance with JORC Code 2012. They indicate a potential second commodity layer, though no JORC-compliant resource has been defined.
| Deposit | Scale | Grade | Commodity |
|---|---|---|---|
| Tsumeb | ~30Mt | 4.3% Cu, 3.5% Zn, 10% Pb, 95g/t Ag, 50g/t Ge | Cu-Pb-Zn-Ag-Ge |
| Kombat | ~12.5Mt | 2.6% Cu, 1.55% Pb, 18g/t Ag | Cu-Pb-Ag |
| Abenab Vanadium | ~1.85Mt | 1.03% V₂O₅ | V |
Historic reference points only. None of these figures represent Cazaly Resources mineral resources or reserves.
What the drone survey delivered — and what comes next
The UAV survey was flown using a caesium-vapour total-field magnetometer at a nominal ground clearance of approximately 30m, designed to maximise resolution of near-surface magnetic sources. Flight lines ran east-west at 50m spacing, with north-south tie lines at 500m spacing for data quality control. In total, approximately 196 line-km were acquired across the three survey blocks — Accra, Cadix, and Abenab — comprising around 160 line-km of flight lines and 36 line-km of tie lines.
The results delivered a clear picture across the licence. The Accra and Abenab north anomalies were confirmed as genuine magnetic source rocks, making them the priority targets for maiden drilling. The Cadix target, however, was downgraded after the new data revealed it was a product of mis-plotting in historic survey work. Cazaly has indicated it will reassess Cadix before any drilling activity on that anomaly. The announcement also noted that multiple other pipe-like magnetic targets exist across the project and require further investigation, signalling ongoing exploration optionality beyond the two confirmed targets.
Tara French, Managing Director, Cazaly Resources
“Completing the drone aeromagnetic survey over our priority targets is a major step for the project. We now have a high-resolution dataset with tight 50-metre line spacing and a low clearance of ~30 metres above the surface… We look forward to using the data to lock in drill collar locations and get our maiden drill program underway.”
The company’s confirmed next steps are:
- Finalise drill program design and commence maiden drilling
- Negotiate additional land access agreements to commence broader copper and base metal exploration activities
- Undertake soil sampling, field mapping, modern detailed geophysics, and drill testing in the southern licence area, which is the initial focus for copper exploration across an approximately 25km strike length
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Investment case — what maiden drilling could unlock
The completion of the drone survey marks a tangible step forward for the Abenab North Project. Two drill-ready targets are now confirmed, copper exploration in an established high-grade district is commencing immediately, and the project carries dual-commodity exposure across copper and REE within a 95%-owned, 790km² licence.
The near-term catalyst to watch is the maiden drilling program, planned for H2 2026. Investors should note that the broader regional copper exploration program remains subject to ongoing land access negotiations, and all forward-looking timelines carry the inherent risks typical of early-stage exploration. No assurance can be given that actual results will be consistent with current plans.
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