- Caspin Resources (CPN) intersects sulphide mineralisation at the XC-46 anomaly within its Yarawindah Brook project in WA
- Two holes were drilled at the conductive anomaly with one intersecting three zones of sulphide mineralisation over 48.5 metres
- The second hole intersected on zone of mineralisation over nearly 20 metres and both holes observed minor nickel and copper sulphides
- Caspin says the results demonstrate the potential of the Brassica trend to host magmatic mineralisation and will conduct follow-up work to further evaluate the mineralisation
- Company shares are up 7.19 per cent to trade at 82 cents at 11:00 am AEST
Caspin Resources (CPN) has intersected sulphide mineralisation within its Yarawindah Brook project in Western Australia.
Diamond drilling at the platinum group element (PGE)-nickel-copper project intercepted the sulphide mineralisation at the XC-46 airborne electromagnetic (AEM) conductor which was identified in December 2021.
The XC-46 anomaly contains two conductive plates and a single hole was drilled through each plate for a total of 432.8 metres.
Hole YAD0024 drilled the southeastern edge of the XC-46b plate and intersected three zones of blebby to stringer and shear-style magmatic sulphide mineralisation that spans intermittently over 48.5 metres.
The drillhole also showed minor nickel and copper sulphides as well as more “abundant” iron sulphides with the total sulphide content up to 10 per cent.
The other hole, YAD0023, targeted the centre of the XC-46a plate and intersected one zone of sulphide mineralisation over 19.5 metres. This hole also showed minor nickel and copper sulphides but were reportedly less abundant than in YAD0024.
Caspin Resources said the results demonstrate the potential of the Brassica trend to host magmatic mineralisation.
Importantly, the Brassica Shear Zone is interpreted as the structure that connects the world-class Julimar PGE-nickel-copper complex to the Yarawindah tenements.
The Brassica Trend comprises a 17-kilometre-long belt and is largely untested by modern drilling or EM surveys. The company is considering high-powered ground EM work to explore the trend below depth.
“Whilst the company’s primary focus remains on the Yarabrook Hill area, drilling at XC-46 has shown that the Brassica prospect and indeed the entire Brassica trend is a fertile environment for magmatic nickel-copper and PGE mineralisation,” CEO Greg Miles said.
Pending geochemical assays and survey work will reportedly help the company to evaluate the importance of the newly-identified mineralisation and support further drilling.
Company shares were up 7.19 per cent to trade at 82 cents at 11:00 am AEST.