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- Caspin Resources (CPN) highlights an outcropping gold-silver system at its Duchess prospect in WA
- The company has received results from rock chip sampling which returned 2.46 g/t gold and 49.7 g/t silver, as well as up to 78 ppm molybdenum and 516 ppm copper
- Aircore “bottom of hole” drill samples have also been received which indicate a potential two-kilometre open strike undercover to the Handpump prospect
- Based on this early data, Caspin believes there’s separate gold-silver and copper-molybdenum mineralisation trends emerging at the Duchess prospect
- CPN shares are steady on the market to trade at 46.5 cents at 11:42 am AEST
Caspin Resources (CPN) has received the first lot of rock chip results from the Duchess prospect within its Mount Squires project in Western Australia.
The rock chip results come from a reconnaissance program which included sampling, field mapping and an aircore drilling program comprising 81 holes for 2394 metres.
This program mainly focused on a molybdenum anomaly identified in 2021, however, it also extended over seven kilometres of strike across the broader molybdenum, copper, gold and lead soil anomaly.
Caspin Resources said the highlight of the first batch of rock chips is a sample returning 2.46 grams per tonne (g/t) gold and 49.7 g/t silver from a patchy outcrop covering around 20 square metres.
The area reportedly comprises a felsic volcano-clastic rock with breccia-style quartz veins to the west of the Duchess prospect.
Caspin identified anomalous molybdenum values up to 78 parts per million (ppm) as well as copper of up to 516 ppm.
Nearby aircore drill holes returned results of 1.7 g/t silver within a broader zone of 1.2 g/t silver and 0.2 g/t gold with at least 500 metres of strike.
This zone is effectively open two kilometres to the north where the Handpump prospect is located. This prospect previously returned a gold result of 15 metres at 2.3 g/t gold.
According to the company, previous drilling at Handpump showed only weak silver anomalism which it said implies this silver mineralisation may be a new mineralisation style associated with the Duchess prospect.
“We’ve set foot on this brand-new target with almost no previous exploration and immediately picked up gold and silver bearing veins off the surface. How many places on earth can you still do that?” CEO Greg Miles said.
“And our first reconnaissance drilling program offers evidence of coherent bedrock mineralisation! We’re excited by what else we’ll find, not just at Duchess but across the project.”
Based on this early data, Caspin believes there are separate gold-silver and copper-molybdenum mineralisation trends emerging at the Duchess prospect which the company said holds the potential to host a significant multi-commodity deposit.
Drilling is scheduled to recommence at Duchess in late September to infill and extend the current drill spacing around holes that have already returned anomalism.
CPN shares were steady on the market to trade at 46.5 cents at 11:42 am AEST.
