Unique Crypto Strategies
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

Unique Crypto Strategies

Investing

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

by 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
0
FacebookTwitterGoogle +Pinterest
previous post
Joint Venture Secured over Advanced Gold Project in Western Australia’s World Class Gold Mining District
next post
Coniagas Grants Stock Options

You may also like

Top 5 Canadian Mining Stocks This Week: Sanu...

Element79 Gold Announces Draw Down on Equity Facility...

Opawica Explorations Announces Drill Program as Remarkable Geology...

Maiden Sandstone drilling program delivers high grade gold

Mithril Drills 20.5 g/t Gold, 1,833 g/t Silver...

Tech 5: Bitcoin Price Sets Five New Records,...

Coniagas Battery Metals to Present at PDAC 2025...

Heritage Provides Exploration Update on New Millennium Prospect...

Alvopetro Announces 2024 Year End Reserves Including a...

Lode Gold Closes Financing – $790,186 to Advance...

Top 5 Canadian Mining Stocks This Week: Sanu...

Element79 Gold Announces Draw Down on Equity Facility...

Opawica Explorations Announces Drill Program as Remarkable Geology...

Maiden Sandstone drilling program delivers high grade gold

Mithril Drills 20.5 g/t Gold, 1,833 g/t Silver...

Tech 5: Bitcoin Price Sets Five New Records,...

Coniagas Battery Metals to Present at PDAC 2025...

Heritage Provides Exploration Update on New Millennium Prospect...

Alvopetro Announces 2024 Year End Reserves Including a...

Lode Gold Closes Financing – $790,186 to Advance...

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


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

    Latest

    • 4th round of US-Iran talks ends as Trump set to embark on...

    • Missiles, drones and airstrikes, until a sudden ceasefire. How India and Pakistan agreed to an uneasy truce

    • In China, some see the ghost of Mao as Trump upends America and the world

    • Pope! Amigo! Peruvians remember the young American priest who became pope

    • Dozens of boxes of Nazi materials found in basement at top Argentinian court

    Categories

    • Business (441)
    • Investing (2,080)
    • Politics (3,439)
    • Uncategorized (1)
    • World (2,213)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: uniquecryptostrategies.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 © 2024 uniquecryptostrategies.com | All Rights Reserved


    Back To Top