Caspin Resources Confirms Serradella Prospect Potential
THE DRILL SERGEANT: Caspin Resources (ASX: CPN) took to the rooftops to spruik the latest assay results achieved from the Serradella prospect, at the company’s Yarawindah Brook PGE-nickel-copper project in Western Australia.
Caspin Resources declared the results had confirmed a PGE discovery with large scale potential at Serradella.
The results exceed the original discovery hole at Serradella the company had announced in March this year.
New drill results from the Serradella prospect include:
YARC0036
17m at 2.13 grams per tonne platinum+palladium+gold (3E) and 0.17 per cent nickel, including 3m at 5.48g/t 3E and 0.17 per cent nickel and 25m at 1.01g/t 3E and 0.16 per cent nickel.
YARC0042
8m at 1.04g/t 3E and 0.16 per cent nickel.
The company is starting to identify multiple mineralised zones at Serradella with continuity over several hundreds of metres and are open in multiple directions.
Recent drilling has demonstrated earlier efforts did not drill deep enough to intersect the lower high-grade zone of mineralisation, which has been interpreted to show mineralisation remains open down dip.
It is likely several holes from the past program will need to be extended with diamond tails upon recommencement of drilling.
“These results provide a major breakthrough for the project,” Caspin Resources chief executive officer Greg Miles said in the company’s ASX announcement.
“We’ve always believed that Yarawindah has the potential for a large economic deposit of PGEs, nickel and copper.
“Now that potential is starting to be realised.
“These results far exceed the magnitude of our original discovery hole and confirms that we’re on a pathway to discovery.
“Whilst we celebrate this significant milestone for the project, we also acknowledge how much we have still to learn about this system.
“Whilst our broad scale targeting model still holds, we recognise there is an additional layer of more detailed control on high-grade mineralisation that we are yet to understand.
“We will need to infill the drill hole spacing to further define this high-grade zone, yet the best mineralisation may still lie beyond the deepest of our step-out holes.
“We can’t wait to see how the next phase of exploration unfolds.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
Email: admin@caspin.com.au
Web: www.caspin.com.au
