Caspin Resources (ASX:CPN) reports further ‘significant’ assay results following a diamond drilling (DD) campaign at the Serradella Prospect, as part of its Yarawindah Brook PGE-Ni-Cu Project in Western Australia.
The results continue to build upon the previously reported intercepts (YARC0036 and YARC0022) and indicate that metal accumulation appears to be increasing down dip and plunge.
Key results include:
- Hole YARCD0025: 35m @ 1.03g/t 3E (Pd+Pt+Au) and 0.14% Ni from 91m, incl. 12.1m @ 2.07g/t 3E and 0.20% Ni from 105.9m (Upper Serradella)
- Hole YARCD0041: 133m @ 0.49g/t 3E and 0.11% Ni from 153m downhole, incl. 6.9m @ 1.08g/t 3E and 0.14% Ni from 226.6m (Lower Serradella)
Addressing the results, Caspin’s Chief Executive Officer Greg Miles said: “These results have confirmed a significant body of mineralisation in the ‘upper’ sections of the Serradella Prospect. The drill holes are still a long way apart and further infill and extensional drilling may define additional higher-grade mineralisation in areas that are open or haven’t been effectively tested.
Simultaneously, we’ve developed an equally prospective front in the ‘lower’ position of Serradella. This mineralisation remains completely open with metal accumulation apparently increasing as we step towards the conceptually more favourable basal contact position of the intrusion.
The results of the past month have proven to be a breakthrough for the project and we’re poised for an exciting upcoming drilling campaign.”
The company also notes that drilling has defined two clear exploration targets at Serradella that appear to merge into a broader, diffuse mineralised zone down-dip, however many of the current drillholes are not deep enough to test the deepest lode positions.
In addition, the three drillholes conducted at the furthest point down plunge (therefore closest to the conceptual basal contact position) contain average thicknesses of mineralisation greater than 100m over a strike of at least 400m.
Mineralisation remains completely open down plunge and potentially along strike and delivers the belief that as drill testing approaches the basal contact position, mineralisation tenor may increase.
The Yarawindah Brook PGE-Ni-Cu Project is located about ~100km northeast of Perth within Western Australia’s emerging PGE-Ni-Cu sulphide New Norcia province and comprises a ‘significant’ ground position of 400km-square about 40km north from Chalice Mining’s ‘high-grade’ Gonneville PGE-Ni-Cu deposit.
With results from the recent DD campaign now returned, Caspin Resources announces that it will move forward with a large drilling campaign over the spring and summer months, comprising infilling upper Serradella and continuing to step-out to the northeast of lower Serradella.
Assays are currently pending from the northwest soil anomaly, as well as drillholes drilled on the Brassica Shear Zone, including XC-46.
Images: Caspin Resources Ltd
