Cazaly Resources has prioritised two targets for maiden drilling at its Abenab North project in Namibia after a high-resolution drone magnetic survey confirmed the Accra and Abenab North anomalies as genuine magnetic source bodies.
The Australian-listed explorer said on Tuesday that it had completed processing and interpretation of the UAV aeromagnetic survey over three priority areas — Accra, Cadix and Abenab — within its 95%-owned Abenab North Project, EPL 9852.
The project covers about 790 km² in Namibia’s Otavi Fold Belt, where Cazaly is targeting rare earth element and copper mineralisation.
The announcement, titled Mag Survey Refines REE Targets, Copper Exploration to Begin, was released on the ASX on 9 September and was designated market-sensitive.
Cazaly said detailed processing and interpretation of the new magnetic data had confirmed the Accra and Abenab North anomalies as magnetic source bodies, allowing the company to refine its targets ahead of drilling.
Both have now been prioritised for drill testing as Cazaly prepares its maiden drilling programme during the second half of 2026.
The survey was intended to define the magnetic anomalies better and provide greater confidence in selecting drill targets, rather than relying on lower-resolution historical information.
The company is seeking mineralisation associated with magnetic bodies beneath the surface, but drilling will ultimately be required to determine the geology and mineralisation responsible for the anomalies.
The same interpretation has resulted in the Cadix anomaly being downgraded.
Cazaly said its review found that historical information associated with Cadix had been incorrectly plotted, affecting the interpretation of the target.
Cadix will therefore require reassessment rather than moving directly into the maiden drilling programme alongside Accra and Abenab North.
The outcome leaves the company with two priority magnetic targets for drilling from the three areas covered by the high-resolution survey.
Cazaly is also broadening work at Abenab North by immediately commencing copper-focused exploration.
The company is assessing the project for mineralisation associated with the Otavi Fold Belt, including copper-bearing systems and a geological setting considered prospective for mineralisation analogous to deposits within the district.
The work will run alongside preparations for the maiden drilling programme, with Cazaly seeking to develop additional copper targets across the extensive EPL 9852 licence area.
The company’s reference to Tsumeb-style mineralisation represents an exploration model, not evidence that such a deposit has been identified at Abenab North. The magnetic anomalies similarly remain exploration targets and cannot be regarded as mineral deposits until they have been tested.
Cazaly’s immediate programme will therefore focus on advancing Accra and Abenab North towards drilling, reassessing Cadix following the problems identified with the historical information, and beginning copper exploration across the broader project area.
The maiden drilling planned for the second half of 2026 will provide the first direct test of the two prioritised magnetic source bodies and determine whether they are associated with the mineralisation Cazaly is targeting.
