Old gold mines in the Eastern Goldfields are often re-examined with modern drilling when historical holes were not followed up. Cazaly Resources Limited (ASX:CAZ) announced on 8 October 2026 that Reverse Circulation Drilling had begun at the Gulls Blow prospect in the Goongarrie Gold Project.

Company overview

Cazaly Resources Limited (ASX:CAZ) is a West Perth-based explorer. It holds 51% of the Goongarrie Gold Project, 90 kilometres north of Kalgoorlie, earned from Brightstar Resources Limited twelve months ahead of schedule, and may increase its interest to 80% by spending a further A$1 million on exploration by March 2029.

The Gulls Blow program

Gulls Blow sits on the Bardoc Tectonic Zone, immediately south-east of the historical New Boddington and Frank’s Dam gold mines and 1.5 kilometres north along strike of Mason’s Flat. It is the first drilling at the prospect since the 1980s. The program aims to validate and extend shallow historical, non-JORC intercepts from a 1986 Julia Mines report beneath old workings, testing beneath shafts and down-dip of holes GB1, GB2 and GB4, which reached about 70 vertical metres.

A track-mounted RC rig has been mobilised for hilly terrain and outcropping quartz veins. The geology is described as consistent with that hosting the nearby pits, with sheared altered basalt and gabbro and sheeted quartz veins.

Earn-in and other work

Expenditure on Gulls Blow and Hastings RC programs contributes to the final 80% earn-in stage. Recent work at Hastings included aircore drilling and heritage surveys, with other announcements listed in the release.

Sector backdrop

The Bardoc Tectonic Zone hosts a number of historical gold mines, and re-drilling of shallow high-grade intersects is a common approach to test depth extensions.

Risks shareholders should weigh

Historical results are non-JORC and were drilled by another company in 1986, so they have not been verified and may not be repeated.

The program is short and focused, and results will indicate only whether grades extend at depth. The earn-in requires further expenditure to reach 80%.

Exploration spending, access and terrain are practical constraints, and no resource is defined.

What’s next

Cazaly expects drilling at Gulls Blow and Hastings to contribute to its earn-in. Shareholders may wish to watch for assays from the Gulls Blow RC program.