THE DRILL SERGEANT: Cassini Resources (ASX: CZI) released the first results from RC drilling underway at the company’s 100 per cent-owned Mount Squires project in the Musgrave Province of Western Australia.
Cassini Resources describes the project as being an early stage exploration project thatit considers to be highly prospective for gold and is located adjacent to the western border of the company’s West Musgrave JV Project with OZ Minerals (ASX: OZL).
The drilling was undertaken at the Handpump prospect and comprised 10 holes for 1,134 metres of RC.
The program was designed to confirm mineralisation controls and extensions to previous drill intercepts and represents the first drilling at the Handpump prospect since 2011, prior to Cassini’s ownership.
Cassini said the results have confirmed the potential for economic mineralisation at surface and extending to shallow depths providing an exciting start to its Mount Squires field program.
Results from the first three holes include a healthy result of:
20 metres at 1.27 grams per tonne gold, including 7m at 2.54g/t gold from 23m.
The intersection included a peak result of 1m at 4.98g/t gold from 26m, highlight potential for high grade mineralisation.
This intercept represents a new lode position that had not been intersected by previous drilling.
“We’re really encouraged by these early results which confirm the presence of significant gold mineralisation at the Handpump prospect and reinforce the prospectivity of our Mount Squires gold project,” Cassini Resources managing director Richard Bevan said in the company’s announcement to the Australian Securities Exchange.
“This is a new frontier for gold exploration in Australia with unrealised potential.
“Cassini is well positioned to exploit this opportunity through our understanding of the geology of the region and established operational capability.
“We look forward to receiving the results from the rest of the program.”