Cassini enjoys further Sugar Lode hit
THE DRILL SERGEANT: Cassini Resources (ASX: CZI) claimed recently conducted drilling has confirmed the Sugar Lode discovery at the Nebo deposit, within the company’s West Musgrave project.
Drill hole CZC0053 is the second hole Cassini has drilled into the ‘roll-over’ of the Nebo intrusion, known as the Sugar Lode.
Plan of Nebo resource (lower image) with zoom-in showing Sugar Lode drill holes and intercepts. Source: Company announcement
The company explained the hole targeted an off-hole EM conductor that had been identified from surveying nearby historical hole WMN28.
The hole returned high-grade intercepts of:
3 metres at 2.82 per cent nickel, 0.35 per cent copper from 163m; and
5m at 2.59 per cent nickel, 0.20 per cent copper from 180m within a broad interval of 46m at 0.98 per cent nickel, 0.53 per cent copper from 155m.
The company said this intercept supports and surpasses the original discovery intercept of 7m at 0.98 per cent nickel, 0.53 per cent copper in CZC0024.
Additional results have also been received from holes CZC0051A (6m at 0.28 per cent nickel, 0.60 per cent copper from 55m) and CZC0052A (26m at 0.37 per cent nickel, 0.66 per cent copper from 64m).
Cassini claims these results both demonstrate continuity of mineralisation from the main lode position to the Sugar Lode.
The Sugar Lode remains open along strike to the east and west as well as down-dip.
Further drilling is currently being planned to define the extent of the Sugar Lode.
“This fantastic result confirms the exploration potential of these deposits,” Cassini Resources managing director Richard Bevan said in the company’s announcement to the Australian Securities Exchange.
“We consider that the nickel and copper grades are well above our required resource grade.
“Further, the depth of mineralisation is well within our 250 metre open pit boundary.
“Needless to say, the further definition of the Sugar Lode will be a high priority in future drilling.”
Cassin has now completed this RC drilling program at Nebo and both RC rigs have moved to the project’s Babel deposit.
Results from approximately half of the Nebo program remain outstanding, which the company anticipates to be received in the coming weeks.
24 holes have now been completed at Babel with first results expected by mid-November.
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Website: www.cassiniresources.com.au