CZR Resources (ASX: CZR) has announced significant initial Reverse Circulation (RC) assay results from its Croydon Gold Project.
Key intercepts include 51m at 1.3 g/t Au from 93m in drillhole CRC040. This hole also featured a high-grade sub-interval of 15m at 2.5 g/t Au from 94m.
Another significant intercept was 4m at 5.1 g/t Au from 78m in CRC043, which contained a higher-grade section of 2m at 10.1 g/t Au from 79m.
Drillhole CRC050 delivered 25m at 0.6 g/t Au from 248m, with sub-intervals of 4m at 1.2 g/t Au from 248m and 6m at 1.1 g/t Au from 267m.
Drilling Set to Resume in March
These latest results are consistent with previous high-grade intersections recorded by CZR in 2019-20, further supporting the interpretation of Top Camp as a new and robust gold system within the broader Mallina Basin.
Following these encouraging results, CZR is set to resume drilling at the Top Camp deposit in March 2026, and the company also has plans for further work at the Bottom Camp area next month.
To support the expanded exploration efforts, CZR intends to establish a new exploration camp.
The Croydon Gold Project is strategically located approximately 50km from Northern Star’s Hemi Gold project, suggesting the potential for multiple discoveries in the region.
Strategic Pivot Fuels Exploration
The acceleration of exploration at Croydon has been significantly bolstered by the A$75 million sale of CZR's Western Australian iron ore assets last year.
This strategic move has freed up substantial capital, allowing CZR to renew its focus on gold exploration.
The company is now well-positioned to advance its promising gold assets within the Mallina Basin.
CZR holds a 70% interest in the E47/2150 tenement, with the remaining 30% owned by Colchis.
Previous Exploration and Funding
Prior to the latest assays, CZR had reported notable historical results from Top Camp, including 27m at 3.2 g/t Au from 135m from drilling in 2019-20.
A major RC drilling campaign, which provided the latest results, commenced after heritage clearances were received in November 2025.
This program was scheduled to run through late 2025 and into 2026.
The company's strong financial position, with A$76 million in cash as of September 2025, combined with the A$75 million received from the Robe Mesa iron ore asset sale, has fully funded these renewed exploration efforts.
While these results are encouraging, the company still faces the inherent risks of early-stage exploration, requiring demonstration of grade continuity and resource development to fully unlock the project's potential.
