Cazaly Resources Limited announced that all multi-element assay results have been received for diamond drilling of a single hole (VKDD2201) to test the Vanrock polymetallic target at the Vanrock Project located in central north Queensland. Cazaly entered into an option agreement with Lynd Resources Pty Ltd. to acquire a majority stake in the Vanrock project based upon sole funding of a single drill hole into the Vanrock target as outlined in the ASX announcement dated 20 July 2022. Funding assistance for this drill hole will be sourced from the Queensland Government's Collaborative Exploration Initiative (up to $171,370).

The Project is located in central north Queensland 350km west of Cairns (Figure 1). The Project lies within the northern portion of the Townsville- Mornington Island Igneous Belt (TMIB), which extends over 700km from Townsville to the Gulf of Carpentaria. Vanrock is characterised by a magnetic high on the margin of a large caldera 30km in diameter (Figure 1) targeting Andean-style silver - tin - base metal mineralisation.

As announced on the 28 September 2022 two separate sulphidic zones were intersected in the hanging wall to the Vanrock Target. The mineralised intervals reported correspond to elevated zinc and silver assays: 4m @ 2.1% Zinc and 63.7g/t Silver from 211.95m; and 2.7m @ 1.5% Zinc and 14.1g/t Silver from 266.27m. Drilling details and anomalous results are included in Appendix 1.