Caspin Resources (ASX: CPN) has intersected a ‘significant’ zone of nickel-copper-PGE mineralisation from the first hole drilled at the XC-22 prospect within its Yarawindah Brook Project in Western Australia.
A 68m zone of mineralisation was encountered in drill hole YARC0022, which included two distinct higher-grade zones.
The upper Ni-Cu sulphide zone returned assay results of 2m @ 1.42% Ni, 0.47% Cu, 0.33g/t 3E (Pd+Pt+Au) from 46m, while the lower PGE-rich, low-sulphide zone produced results of 13m @ 0.97g/t 3E, 0.26% Ni, and 0.21% Cu from 101m, including 2m @ 2.88g/t 3E, 0.23% Ni, and 0.09% Cu from 112m.
Importantly, stratigraphic continuity of PGE mineralisation has now been established over at least 200m.
Addressing the results, Caspin’s Chief Executive Officer Greg Miles said: “This is a captivating result. We’ve confirmed significant nickel and copper sulphide mineralisation at shallow depths associated with the AEM anomaly that stretches over 700m. Mineralisation is open in all directions and is an exciting target. The lower PGE-rich mineralisation is probably even more enticing. This is the first time we’ve been able to demonstrate continuous PGE mineralisation from surface into the basement rocks at potentially economic levels. The geological setting is also different from what we’ve previously observed within the Central Yarabrook Hill area and is more akin to mineralised settings at Gonneville. We’ve opened up a new and exciting exploration front and taken a substantial leap forward on the pathway to discovery.”
“This is the first time we’ve been able to demonstrate continuous PGE mineralisation from surface into the basement rocks at potentially economic levels”
YARC0022 was the first hole drilled to test the XC-22 AEM anomaly that had recently been identified by the company based on visual observations.
The company notes that the lower PGE-rich horizon has a stratigraphic correlation with mineralisation from historical drill hole YBR063 and likely supergene mineralisation intersected near surface in YBR060 – YBR062. This stratigraphic correlation is supported by both of these intersections having ‘distinctively high’ Pt/Pd ratios.
The results suggest that the PGE-rich horizon has at least 200m of continuity down-dip, which Caspin considers to be a ‘very significant’ breakthrough for the project.
Section through XC-22 displaying hole YARC0022 along with mineralisation from historical drillingThe Yarawindah Brook Project is located in Western Australia’s West Yilgarn province, and has been explored since the discovery of outcropping Ni-Cu gossans in 1974. Caspin is advancing exploration on multiple fronts at the project using soil geochemistry and geophysics in search of new PGE-Ni-Cu sulphide deposits.
Looking forward, RC drilling activities are expected to resume within weeks, with Caspin preparing to test a priority northwest geochemical anomaly whilst awaiting remaining assays from XC-22 and Central Yarabrook Hill.
The company reports that it is also mobilising a diamond rig to site by the end of the month, which will be used to complete diamond tails at both XC-22 and Central Yarabrook Hill. Ground EM surveys are also planned to be undertaken at XC-22 over the coming weeks, dependent on crew availability.
Images: Caspin Resources Limited
