Caspin Resources (ASX:CPN) reports it has identified multiple targets for a new drilling program at the Yarawindah Brook PGE-Nickel-Copper Project in Western Australia.
The company says it will be targeting the Upper Serradella Prospect to define a new PGE-Ni-Cu resource centred on the results from drillhole YARC0036, as well as the Vicia Prospect where the company recently found a new PGE discovery, and Lower Serradella where Caspin will be searching for basal contact mineralisation.
Caspin will be testing these targets over the next 5 months using reverse circulation (RC) and diamond drilling.
Caspin Resources CEO Greg Miles said the final results from the company’s earlier drilling campaign have provided additional targets across the project as well as reinforcing the prospectivity of its main targets at Serradella, which delivered the best drilling results in the project.
“We’re now embarking on a substantial drill campaign to test the extensions of that mineralisation and ultimately consolidate the Serradella Discovery as a new PGE, nickel and copper resource of note”
“We’re now embarking on a substantial drill campaign to test the extensions of that mineralisation and ultimately consolidate the Serradella Discovery as a new PGE, nickel and copper resource of note and only the second in the West Yilgarn.”
At Upper Serradella, centring on the results of YARC0036 which intersected 17m @ 2.33g/t 4E and 0.17% Ni including a ‘high-grade’ core of 3m @ 6.04g/t 4E and 0.17% Ni, Caspin will be drilling around the prospect with drill spacing around 200m leaving scope for further discovery of ‘high-grade’ mineralisation at shallow depths by infill drilling surrounding YARC0036, YARC0022 and YARCD0025.
It also notes there is ‘significant’ scope south of YARC0036 where mineralisation remains open.
At the Vicia Prospect, the company says mineralisation occurs over a strike length of at least 600m with at least 2 PGE-mineralised lenses, and YARC0030 returned a best result of 32m @ 0.48g/t 3E including 4m @ 1.12g/t 3E from 81m.
The Vicia Prospect lies immediately west of Serradella and possibly represents a thrust slice of the same ‘broad’ mineralised system from beneath the Radio Tower Fault which was previously considered to host only barren gabbroic rocks.
Caspin says it ‘excited’ to have opened a new exploration search space, and further infill and step-out drilling will be conducted at Vicia during this drill program to determine the potential for economic bodies of mineralisation.
At Lower Serradella, the broad scale approach to exploration so far has allowed the company to develop a conceptual model which indicates ‘stronger’ mineralisation associated with the basal contact of the intrusion, located northeast of the current drill area.
The deepest drilling in this area has provided support for the interpretation, with broad zones of anomalous mineralisation such as 133m @ 0.49g/t 3E and 0.11N from 153m in YARCD0041, including ‘higher grade’ zones such as 6.9m @ 1.08g/t 3E and 0.14% Ni from 226.6m and 111m @ 0.30g/t 3E from 71m in YARC0042.
Caspin also reports assays from the final hole at Central Yarabrook Hill have returned a broad zone of anomalous PGE-Ni-Cu mineralisation which it says is stratigraphically higher and geochemically different to the Serradella end of the intrusion.
It also says despite many drillholes completed to date, the Yarabrook Intrusion is yet to be fully tested and there is still opportunities for further discovery, and the company will be conducting infill drilling in this area in the current program.
The company also reports it has intersected rhodium from 3 diamond holes with a best result of 0.52m @ 2.27g/t 4E including 0.36g/t Rh from 328.48m in YARCD0027 at Serradella.
Caspin reports it is continuing to develop geological models Serradella where mineralisation is now recognised to variably comprise Rh-rich lodes, Pd-Pt dominant lodes and Ni-Cu dominant lodes, and it expects to delineate the various lode styles with close-spaced drilling in the upcoming program.
The company has also identified broad zones of sulphide mineralisation returning anomalous grades of nickel copper and PGEs at the the EX-46 Prospect 5km west of the Yarabrook Intrusion, intersecting 0.52m @ 0.35% Ni, 0.17% Cu and 0.42g/t 3E demonstrating potential for economic mineralisation, and a single hole is planned to test this zone in the back half of the current program.
Caspin Resources is a mineral exploration company based in Perth in Western Australia focused on its flagship Yarawindah Brook Project prospective for PGE-nickel-copper mineralisation.
The company also holds the Mount Squires Project where it has identified a 50km structural corridor with gold mineralisation and potential copper porphyry prospects.
Images: Caspin Resources Ltd
