THE DRILL SERGEANT: Cassini Resources (ASX: CZI) announced a second serious intersection of massive sulphide mineralisation at the Yappsu prospect within the company West Musgrave Project (WMP) Joint Venture in Western Australia with OZ Minerals (ASX: OZL)
Cassini Resources released the assay results of diamond drill hole CZD0076B, from which it had previously reported visual observations in June.
The company said the best assay results for CZD0076B confirmed nickel and copper sulphide mineralisation in three distinct units:
1. A massive sulphide zone returning 6.45 metres at 1.67 per cent nickel, 1.07 per cent copper, 0.14 per cent cobalt and 0.49 grams per tonne platinum group elements (PGE).
These levels of cobalt and platinum group elements (PGE) are some of the highest recorded at the WMP;
2. An upper heavily disseminated zone of 15.25m at 0.6 per cent nickel, 0.77 per cent copper, 0.02 per cent cobalt, 0.31g/t PGE and 0.18g/t gold. Significant gold mineralisation potential has not been previously recognised.
3. A lower broad disseminated zone of 55.6m at 0.32 per cent nickel, 0.34 per cent copper, 0.01 per cent cobalt 0.23g/t PGE and 0.06g/t gold.
The combined weighted average of all intercepts is 77.8m @ 0.49 per cent nickel, 0.49 per cent copper, 0.2 per cent cobalt, 0.29g/t PGE.
Cassini described this as, “the most significant intercept at the prospect to date on a contained metal basis”, adding that it has confirmed its belief that historical drill holes had not intersected the core of the mineralised system.
Mineralisation has continuity over 250m down-plunge and appears to be strengthening at depth which remains completely open and is yet to be tested by the JV’s current Downhole Electromagnetic (DHEM) or surface Moving Loop Electromagnetic (MLEM) systems.
Additionally, the disseminated mineralisation has a weak EM signature and may extend up-plunge closer to surface than indicated by the EM models.
The up-plunge position has not been tested by drilling.
The company considers this result to be a turning point in the exploration of the Yappsu prospect within the context of the broader WMP.
It Although an early stage prospect, Yappsu is currently being pursued by the JV as an opportunity that could support the development of the Nebo-Babel deposits.
“The results from the first two holes at Yappsu are very significant,” Cassini Resources managing director Richard Bevan said in the company’s announcement t the Australian Securities Exchange.
“The mineralised trend north east of Nebo-Babel has now been shown to host some of the highest tenor sulphide mineralisation identified so far in the project area.
“This has big implications for our continued exploration programs and also for the development scenarios at Nebo-Babel, where the discovery of additional high-grade ore could materially impact the project metrics.
“The early success of our exploration program is a result of the significant work of our technical team and has demonstrated that our targeting strategy is becoming very efficient and effective indeed.”