The Great Assets
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

The Great Assets

Investing

Earn-In with Cazaly Resources over Non-Core Goongarrie Project Streamlines Portfolio

by admin February 12, 2025
February 12, 2025
Earn-In with Cazaly Resources over Non-Core Goongarrie Project Streamlines Portfolio

Brightstar Resources Limited (ASX: BTR) (Brightstar) is pleased to announce that a binding Term Sheet has been executed with Cazaly Resources Limited (ASX: CAZ, Cazaly), under which Cazaly is granted an option to elect to earn up to an 80% interest in the Goongarrie Gold Project, by incurring exploration expenditure of up to $3 million.

HIGHLIGHTS

  • Brightstar has signed a binding Term Sheet with Cazaly Resources Limited under which Cazaly is granted an option to elect to earn up to an 80% interest in the Goongarrie Gold Project by sole funding exploration expenditure of up to $3 million, as follows:
    • Upon exercising the option, Cazaly to spend $1 million on expenditure over an initial 12-month period to earn a 25% interest;
    • Cazaly to spend an additional $1 million on expenditure over a further 18-month period to earn an additional 26% interest (aggregate 51% interest); and
    • Cazaly to spend an additional $1 million on expenditure over a further 18-month period to earn an additional 29% interest (aggregate 80% interest)
  • Upon Cazaly earning an interest in the Goongarrie Gold Project, Brightstar and Cazaly shall form a Joint Venture
  • Brightstar’s exploration strategy remains focused on improving and growing existing mineral resources at projects with granted mining leases and near-term commercialisation pathways, such as the Sandstone, Menzies and broader Laverton project areas

Brightstar’s Managing Director, Alex Rovira, commented:

“With our focus on development and mining operations across the broader Eastern Goldfields and Murchison regions, we are delighted to have attracted a quality partner in Cazaly to explore the Lake Goongarrie area in greater detail, while retaining exposure and upside to exploration success with the joint venture.

Our focus in the general Menzies area is on the Lady Shenton System where we are defining a large open pit mining complex as part of our DFS, whilst we continue to explore and assess other deposits such as Yunndaga and the Link Zone for future mining opportunities to increase our operational footprint in the Menzies area.”

Under the Term Sheet, Cazaly is granted an option, exercisable within 90 days, to elect to earn up to an 80% interest in the Goongarrie Gold Project shown in Figure 1 (which is a combination of wholly owned tenements and tenements where Brightstar holds gold rights). The exercise of the option by Cazaly is subject to satisfaction of certain conditions precedent, including due diligence on the Goongarrie Gold Project by Cazaly, the tenements being in good standing and certain deeds of assignment being entered into with parties that have rights in respect of the Goongarrie Gold Project.


Click here for the full ASX Release

This post appeared first on investingnews.com

previous post
LU7 Announces Strategic Partnership with Polyechnique Montréal
next post
New resistance battling Trump’s second term through onslaught of lawsuits taking aim at EOs

Related Posts

S&P Global: Mining Sector Sees Mixed Q1, Next...

May 17, 2025

175m @ 2.5% Copper from 7.6m, Hole Ends...

May 6, 2025

Greenvale $1.8m placement to fast-track uranium exploration

March 24, 2025

Tech Stocks, Cryptocurrencies Pull Back as OpenAI Competitor...

January 28, 2025

Apple Beats on Revenue Despite AI Hiccups and...

January 31, 2025

Editor’s Picks: Gold Breaks US$3,200, Experts Call for...

April 14, 2025

Zijin to Take on Precious Metals Streaming as...

May 28, 2025

Silver47 Closes Additional Tranche of Non-Brokered Private Placement

March 13, 2025

Top 5 Manganese Reserves by Country

May 2, 2025

Opawica Explorations Inc Announces the Closing of Non-Brokered...

April 4, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Editors’ Picks

    • 1

      Top 11 Countries by Rare Earth Metal Production

      February 27, 2025
    • 2

      Capital One outage drags into Friday afternoon, leaving some customers without deposit access

      January 23, 2025
    • 3

      Bank of America CEO says financial industry will jump into crypto payments if regulators allow it

      January 23, 2025
    • 4

      Altech Batteries LtdCERENERGY Accredited Highest Possible Green Rating

      January 24, 2025
    • 5

      Netflix shares soar as company reports surging revenue, tops 300 million subscribers

      January 23, 2025
    • 6

      Altech – CERENERGY Accredited Highest Possible Green Rating

      January 24, 2025
    • 7

      Strategic Alliance with Macmahon to Accelerate Redevelopment of Nifty

      January 23, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: thegreatassets.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 thegreatassets.com | All Rights Reserved