Cazaly and Vector Resources create JV

Cazaly Resources and Vector Resources Ltd have agreed to combine their respective tenement holdings in the Earaheedy Basin located in the central region of Western Australia to form a 50:50 JV to principally explore for iron ore and manganese mineralization. The project covers a very large area in excess of 2700sq/km including a substantial strike extent of the iron ore prospective Frere Formation. The Frere Formation will be the primary focus for iron ore exploration within the basin. The Formation comprises several units of granular and supergene-enriched iron-formations separated by shale, siltstone, chert, and jasper beds. Initial field reconnaissance work within the JV project area has defined several particular target areas based upon coincident stratigraphy, gravity and magnetic anomalism and surface sampling. Whilst the project is at an early stage of development the extent of known iron formations within the Frere Formation, the results from regional surface sampling and the results from other work in the region highlights the great potential of the project to host several large scale deposits of haematite, haematite-goethite and magnetite.
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