Caspin Resources Claims New PGE discovery at Yarawindah Brook

THE DRILL SERGEANT: Caspin Resources (ASX: CPN) claimed discovery of a new PGE prospect at the company’s Yarawindah Brook PGE-nickel-copper project in Western Australia.

Caspin Resources reported the prospect, now known as Vicia, is located at the northern margin of the Yarabrook Intrusion and adjacent to the recent Serradella discovery from which the company reported high-grade and broad widths of PGE mineralisation, along with high-grade rhodium mineralisation.

The anomaly is located at the northern margin of the Yarabrook Intrusion, northwest of the Central Yarabrook prospect, west of the Serradella discovery and structurally below the Radio Tower Thrust.

Six holes were drilled, some of which returned high values of PGEs.

Results include:

YARC0030
32 metres at 0.48 grams per tonne 3E from 58m, including 4m at 1.12g/t 3E from 81m; and

YARC0032
10m at 0.42g/t 3E from 42m, including 2m at 1.13g/t 3E from 42m.

“This is a real bonus to what was already a very successful drilling campaign,” Caspin Resources CEO Greg Miles said in the company’s ASX announcement.

“There are two key positive developments.

“Firstly, we previously thought the intrusion west of the Radio Tower Fault, comprising approximately 60 per cent of the Yarabrook Intrusion, was completely barren.

“This is clearly not the case and opens another future exploration front.

“Secondly, our soil geochemistry program is working extremely well to identify new bodies of mineralisation.

“This bodes well for the large number of anomalies that have already been identified and waiting further exploration.

“One of those anomalies coincides with approximately three kilometres of the Hanging Wall Shear north of Serradella, suggesting mineralisation is continuous for a considerable distance down plunge from the mineralisation already discovered at surface.

“These results are another demonstration of the scale of the opportunity at Yarawindah Brook.

“The Yarabrook Intrusion is developing into a very large mineralised intrusive complex, with over four kilometres of strike and exceptional prospects for further economic discoveries.

“We’re looking forward to the recommencement of drilling, starting at Serradella, in the coming weeks.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Web: www.caspin.com.au