Caspin Resources Confirms Nickel and PGEs at XC-22 Prospect
THE DRILL SERGEANT: Caspin Resources (ASX: CPN) will have plenty to tell investors at the 2022 RIU Explorers Conference after its announcement of new drilling results from the XC-22 prospect at the company’s Yarawindah Brook PGE-nickel-copper project in Western Australia.
Caspin Resources recently declared a new nickel-copper sulphide discovery at the XC-22 airborne electromagnetic (AEM) anomaly based on visual observations.
The company has now drill hole YARC0022, the first hole to test the AEM anomaly, which has intersected a sulphide zone over 60 metres thick from immediately beneath the fresh rock interface, only 46m down hole.
A 68m zone of mineralisation in YARC0022 includes two distinct higher-grade zones:
Upper Ni-Cu sulphide zone
2 metres at 1.42 per cent nickel, 0.47 per cent copper, 0.33 grams per tonne 3E (palladium+platinum+gold) from 46m; and
Lower low-sulphide, PGE-rich zone
13m at 0.97g/t 3E, 0.26 per cent nickel and 0.21 per cent copper from 101m, including 2m at 2.88g/t 3E, 0.23 per cent nickel, 0.09 per cent copper from 112m.
“We’ve confirmed significant nickel and copper sulphide mineralisation at shallow depths associated with the AEM anomaly that stretches over 700 metres,” Caspin Resources chief executive officer Greg Miles said in the company’s ASX announcement.
“Mineralisation is open in all directions and is an exciting target.
“The lower PGE-rich mineralisation is probably even more enticing.
“This is the first time we’ve been able to demonstrate continuous PGE mineralisation from surface into the basement rocks at potentially economic levels.
“The geological setting is also different from what we’ve previously observed within the Central Yarabrook Hill area and is more akin to mineralised settings at Gonneville.
“We’ve opened up a new and exciting exploration front and taken a substantial leap forward on the pathway to discovery.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: admin@caspin.com.au
Web: www.caspin.com.au
