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Caspin Resources (ASX:CPN) - CEO, Greg Miles - The Market Herald
CEO, Greg Miles
Source: Caspin Resources
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  • Caspin Resources (CPN) identifies new nickel-copper-platinum group element (PGE) anomalies at the Yarawindah Brook Project in Western Australia
  • Sampling at the project outlines a surface palladium anomaly that spans over three kilometres and lies in an area that has never been drill tested
  • This anomaly hosts greater than six parts per billion palladium, 150 parts per million nickel and 300 parts per million copper
  • A nickel-copper-PGE anomaly was also identified 500 metres north of the Yarabrook Hill Prospect and samples are at the laboratory undergoing analysis
  • Caspin is yet to trade this morning with shares last trading at $1.79 on June 15

Caspin Resources (CPN) has identified new nickel-copper-platinum group element (PGE) anomalies at the Yarawindah Brook Project.

The 400-square-kilometre Yarawindah Brook Project lies 100 kilometres northeast of Perth in the nickel-copper-PGE New Norcia province.

Sampling to date at the project has outlined a surface palladium anomaly spanning beyond three kilometres and grading more than six parts per billion (ppb).

This anomaly also hosts more than 150 parts per million (ppm) nickel and more than 300ppm copper.

Pleasingly, this anomaly lies in an area that has never been drill tested and further anomalies were identified to the north and need to be followed up.

Caspin's soil survey also identified a second nickel-copper-PGE anomaly 500 metres east of the Yarabrook Hill Prospect.

This anomaly strikes over 1.2 kilometres, and the company believes it may represent an extension to the main intrusion or a completely separate one.

Samples have been sent to the laboratory for analysis and results are pending.

Additionally, Caspin has engaged a geophysical consultancy to undertake a gravity gradiometer survey to identify and map potential mafic intrusions.

Once received, this data will combine with magnetic, electro-magnetic and soil geochemistry data to prioritise targets for drill testing.

The survey is expected to begin in the coming weeks.

Caspin is yet to trade this morning with shares last trading for $1.79 on June 15.

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