Cassini Resources Continues Encouraging Run at Mount Squires

THE DRILL SERGEANT: Cassini Resources (ASX: CZI) continued its recent good run of encouraging RC drilling results from the company’s 100 per cent-owned Mount Squires project in the Musgrave Province of Western Australia.

Cassini Resources declared the latest results have again returned economic mineralisation near surface and extending to shallow depths.

The Mount Squires project is an early stage exploration project that Cassini considers highly prospective for gold, located adjacent to the western border of the company’s West Musgrave JV project with OZ Minerals (ASX: OZL).

Results from another three holes of the 10-hole program have been received and include results of:

27 metres at 1 gram per tonne gold from 31m, including 3m at 2.59g/t gold from 38m; and

19m at 0.68g/t gold, including 6m at 1.26g/t gold from 38m.

“Recent drilling results support the current geological interpretation,” Cassini Resources said in its ASX announcement.

“Mineralisation is hosted within a hydrothermal breccia at the stratiform contact of a rhyolite and overlying (predominantly barren) volcaniclastic unit.

“Mineralised lodes, defined by a 0.1g/t gold halo, strike E-W to ESE-WNW and are near vertical to steeply south dipping.

“Mineralisation is potentially controlled by the intersection of NW-SE and SW-NE trending structures.

“Surface rock chip sampling of the hydrothermal breccia and extrapolation of recent and historical drill results indicates a potential mineralised strike of at least 600m which remains open down plunge.”

Cassini indicated it anticipates receiving results for the remaining four holes over the next couple of weeks.

The company said that regardless of the results, it has been encouraged enough already to begin planning follow-up programs at Handpump and the remaining project area.

The evaluation of recent airborne magnetic survey geochemical data will also inform the company’s decision-making process for the next phase of exploration.