THE DRILL SERGEANT: Cassini Resources (ASX: CZI) announced an exploration program is set to commence at the West Musgrave Project (WMP) in Western Australia.
Cassini Resources explained the WMP is entering the second stage of the Earn-in/JV Agreement with OZ Minerals (ASX: OZL) that comprises a $15 million Pre-Feasibility Study for the Nebo-Babel deposits, with a concurrent exploration program of $4 million.
A further $4 million is also available during the next stage of the Joint Venture, for a total minimum of $8 million exploration spend over a maximum time of 2.5 years as part of OZL funded Earn-in/JV, with additional $4 million in next Stage.
Initial targets include the Yappsu prospect, which Cassini describe as being a Nebo look-a-like.
“(Yappsu was) Discovered in 2009, drilling initially targeted a surface moving loop electro-magnetic (MLEM) anomaly, with several holes intersecting a thick zone of disseminated mineralisation and importantly, including zones of high-grade massive to breccia nickel sulphides,” Cassini said in its ASX announcement.
“Platinum and palladium grades are significantly higher than Nebo and Babel and are potentially indicative of a higher tenor system.”
Previous results from Yappsu include: 2.55 metres at 2.42 per cent nickel, 0.48 per cent copper massive sulphide within 44.3m at 0.49 per cent nickel 0.48 per cent copper.
The upcoming work will also chase high-grade extensions at Babel to follow up earlier results that included:
25.1m at 0.94 per cent nickel 0.94 per cent copper.
“BW3 is the highest conductance DHEM plate in the entire Babel deposit and strikes over 300 metres, extending 230 metres to the west of WMN4049 which has not had any further drill testing,” Cassini said.
“The limit to the extent of the BW3 plate model is only constrained by distance from adjacent holes. Therefore, there is no conceptual reason why this mineralisation could not continue down-plunge.”
In early 2017, Cassini announced the discovery of copper mineralisation at One Tree Hill, approximately 13km southwest of Nebo-Babel.
This was only the 5th hole at the prospect targeting an off-hole conductor from an earlier hole drilled by Cassini in 2015.
The company will follow up the intersection of 3.2m at 2.16 per cent copper, 0.58 per cent nickel massive sulphide within 34m at 1.05 per cent copper with surface and downhole EM programs designed to generate new targets.