THE DRILL SERGEANT: Cassini Resources (ASX: CZI) declared recording the best results to date from drilling underway at the One Tree Hill prospect within the West Musgrave project (WMP) in Western Australia.
Cassini Resources explained the ongoing exploration program is being funded as part of the company’s Joint Venture Agreement with OZ Minerals (ASX: OZL).
The JV is currently undertaking a Pre-feasibility Study (PFS) on the Nebo-Babel deposits in conjunction with a regional exploration program across the WMP.
The latest results stem form drill hole CZD0099, which returned high-grade results including:
9 metres at 2.56 per cent copper, 0.37 per cent nickel, 0.06 per cent cobalt and 1.32g/t PGE from 344m within a broader disseminated zone of 40m at 1.16 per cent copper from 343m (Zone B)
6.2m at 3.61 per cent copper, 0.11 per cent nickel, 0.03 per cent cobalt and 0.51g/t PGE from 435.8m within 22m at 1.80 per cent copper from 435m (Zone C)
0.75m at 1.71 per cent Ni, 0.52 per cent copper, 0.10 per cent cobalt and 2.67g/t PGE from 133m within 44.7m at 0.35 per cent copper from 116.3m (Zone A).
Cassini described the results as encountering, “the first significant zone of nickel-rich massive sulphides at this prospect”.
Four distinct zones of mineralisation were intersected in the hole:
Zone A. Predominantly disseminated copper mineralisation in a meta-gabbro intrusion starting at 100m below surface.
Zone B. A broad zone of mineralised meta-gabbro with a copper-rich massive sulphide at the top of the unit.
Zone C. A second broad zone of copper-rich gabbro, also with a massive sulphide component at the top of the unit.
Zone D. A very narrow massive sulphide zone that corresponds with the target EM conductor.
“CZD0099 has exceeded our expectations,” Cassini Resources managing director Richard Bevan said in the company’s announcement to the Australian Securities Exchange.
“We’ve intersected several mineralised zones that were effectively blind to previous geophysical modelling, and this presents real opportunities for further exploration success.
“It’s also worth recognising that whilst this is only our sixth hole at the One Tree Hill prospect, it is showing all the hallmarks of a major mineralised system with the potential to add future mine life and value to the West Musgrave Project.
“The exploration results continue to confirm the excellent prospectivity and potential of the project.”
Cassini indicated it considers high resolution magnetic data very important for future exploration at One Tree Hill, however, the current magnetic data it possesses is relatively coarse and does not allow confident mapping of lithologies and structures at the prospect scale.
This being the case, the company has an airborne magnetic survey planned to be carried out prior to follow-up drilling that will extend west across the tenement boundary into Cassini’s 100 per cent-held Mt Squires project to assist exploration at both projects.
The survey will also extend north east to ensure complete high-resolution coverage of the entire extent between One Tree Hill and Nebo-Babel.
Cassini said it expects the surveying and processing will be completed by the end of July, from which the interpretation of new magnetic data will assist follow-up drill targeting.
The relatively shallow nature of the upper parts of this system means that at least that part is amenable to testing by RC rather than Diamond drilling, which is both faster and cheaper.