Cassini Resources Confirms Potential of Succoth Deposit

THE DRILL SERGEANT: Cassini Resources (ASX: CZI) announced results from recent drilling at the Succoth deposit, situated within the West Musgrave Project in Western Australia.

Cassini Resources is developing the WMP with its Joint Venture partner OZ Minerals.

The JV partners are currently undertaking a Prefeasibility Study (PFS) on the project’s Nebo-Babel deposits as well as a regional exploration program.

The Succoth deposit is a large, Inferred copper resource of 156 million tonnes at 0.6 per cent copper, located only 13km northeast of Nebo the JV believes could benefit to the project by providing additional mineralisation to a future mining operation at Nebo-Babel.

Cassini reported the recent results have confirmed thick zones of copper mineralisation that support a favourable, folded mineralisation geometry, with significant implications for future resource updates and mining evaluation.

Drilling has also provided further evidence of a proximal source of nickel sulphide mineralisation.

Three diamond drill holes were completed in late 2018, infilling a strategic section critical to resolving the folded stratigraphy model hypothesis.

Results from the program included:

76.3 metres at 0.71 per cent copper and 0.17g/t platinum group elements (PGE) from 46.7m;

92.55m at 0.75 per cent copper and 0.19g/t PGE from 271.45m;

Cassini highlighted an intersection encountered within CZD0097 of 0.25m of re-mobilised massive sulphide within a dolerite dyke grading 3.17 per cent nickel, 1.41 per cent copper and 0.22 per cent cobalt; and

141.3m at 0.5 per cent copper and 0.11g/t PGE from 431.5m.

“The importance of these results goes well beyond the assays themselves,” Cassini Resources managing director Richard Bevan said in the company’s announcement to the Australian Securities Exchange.

“They support a favourable geological interpretation that has significant potential benefit for the scale of the resource at Succoth, its amenability to open pit mining and our goal of building a multi-decade mining operation in the West Musgrave.

“The perseverance of our geological team is successfully unlocking the potential of Succoth and we look forward to further drilling success in 2019.”

The JV considers the Succoth deposit presents future optionality on copper with likely low capital intensity development costs that may support a multi-decade project in the region.

Cassini indicated a second infill section requiring approximately 2,000m of drilling will be undertaken to confirm a folded geological interpretation that has been identified that extends along strike.

Site works have already been completed and drilling will commence early in the 2019 field program.