Caspin Resources (ASX:CPN) could expand the Kelpie deposit resource at its Bygoo Tin Project, 55km southwest of West Wyalong in New South Wales’ Riverina region.
Caspin recently finished drilling 30 holes (spanning a combined 5.4km) at the deposit. Assays from one of the first 11 holes returned 13 metres at 1.16% of tin from 103m, including 2m at 2.94% of tin from 106m.
Another hole returned 24m metres at 0.50% of tin from 153m, including 3m at 1.08% of tin from 165m, and 6m at 0.65% of tin from 195m.
The entire Kelpie deposit is predicted to have 3.94 million tonnes at 0.50% of tin for 19,300t of contained tin. The company describes this size as “significant” and “high-grade” at shallow, open-pit mining depths. Program results will help to extend mineralisation beyond the existing resource.
“The initial focus has been on the Stewarts Fault area, which is grossly under-drilled and therefore has excellent potential for substantial resource growth… [and] it is very pleasing to have returned the highest-grade intersection from this area to date, highlighting the potential for locally increased grade as we expand the overall resource,” Managing Director Greg Miles says.
“Good results have also been returned from the historic Dumbrell’s and Smith’s workings but there remains a lot more drilling to do in these areas, particularly as we refine our targeting approach using the latest data from recent geophysical surveys.”
A further seven holes, spanning 1.1km, have been drilled at the Ardlethan East deposit. One rig has been mobilised to continue exploration and extension drilling at Kelpie.
The drill program has been extended beyond the initially planned 5km and is expected to continue into late May 2026.
A new induced polarisation survey is underway to extend coverage by more than 1km to both the west and north. This includes the Area 1 prospect, which the company claims to show signs of mineralisation at the surface and in tin rock chip results.
A detailed gravity survey is complete from the Kelpie deposit to help to map bedrock lithologies, particularly the prospective granite contact.
Caspin is a precious, base, and critical metals company with assets in New South Wales and Western Australia.
Write to Richard Szabo at Mining.com.au
Images: Caspin
