Cazaly Resources has been granted a trading halt by the ASX pending an announcement on the Parker Range Iron Ore Project, with the company's shares placed in pre-open.

Parker Range recently showed some strong potential, with a recent upgrade at the Mount Caudan deposit.

Importantly at the deposit, 70% of the 33.6 million tonne at 56.1% iron (61.6% CaFe) resource is included in the high confidence Measured category.

Cazaly said a regional exploration program is planned to commence later in 2011.

Highlighting the potential of the project, most of the 16 kilometre long banded iron formation unit has not been explored.

A Definitive Feasibility Study into the development of Mount Caudan Deposit is ongoing.

Parker Range is located 60 kilometres by road south of the Perth Kalgoorlie railway in the Yilgarn region of Western Australia.

(Sourced from www.proactiveinvestors.com.au)