Cassini drilling hits anticipated mineralisation

THE DRILL SERGEANT: Cassini Resources (ASX: CZI) has encountered high-tenor mineralisation while conducting the maiden drilling program on the Nebo and Babel deposits at the company’s 100 per cent-owned West Musgrave project in Western Australia.

Assay results from the first four RC drill holes at Nebo have been received, which include intersections of high‐grade nickel and copper.

Assay results from the first four drill holes include:

WMC0015
28 metres at 1.38 per cent nickel and 0.87 per cent copper from 63m, including 6m at 3.40 per cent nickel and 0.96 per cent copper from 84m; and

WMC0004

29m at 1.00 per cent nickel and 0.61 per cent copper from 56m, including 2m at 3.12 per cent nickel and 1.07 per cent copper from 81m.

 

Section through 371900E showing WMC0015 intercept. Source: Company announcement

 

Cassini explained Nebo-Babel is a shallow, large tonnage open pittable nickel sulphide orebody, from which the company considers a resource grade of greater than 0.7 per cent nickel and 0.6 per cent copper to be noteworthy.

In respect to this, the company believes the results from the first four drill holes at the project to be exceptional.

Cassini emphasised the results from drill hole WMC0015, indicating it had intersected the thickest and highest grade mineralisation drilled to date on Section 371900E.

The previous best historical intercept had returned 16m at 0.84 per cent nickel and 0.56 per cent copper in hole WMN23.

The company said this supports its belief the previous drill spacing on nominal 200m centres was too broad to define a continuous core of higher‐grade mineralisation.

Cassini said it remains confident further drilling will continue to demonstrate the continuity of higher‐grade mineralisation, at depths amenable to open pit mining methods.

It anticipates a maiden Indicated Resource estimate will be prepared at the end of the current drilling program.

The current higher grade Inferred Resource estimate is 33.2 million tonnes at 0.73 per cent nickel and 0.59 per cent copper using a 0.5 per cent nickel cut‐off grade.

“We are very pleased to report such excellent results from Cassini’s maiden drill program at the West Musgrave project,” Cassini Resources managing director Richard Bevan said in the company’s announcement to the Australian Securities Exchange.

“These are exactly the type of results we were after and confirm our view that the Nebo‐Babel deposits represent a realistic near‐term development opportunity.”

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Website: www.cassiniresources.com.au