THE BOURSE WHISPERER: Cassini Resources (ASX: CZI) exercised its option to acquire 80 per cent of the Yarawindah Brook nickel-copper-cobalt-PGE project in Western Australia.
The acquisition comes through acquiring 80 per cent of the issued capital of Souwest Metals Pty Ltd, a private company associated with Kalgoorlie prospector Scott Wilson.
“The Yarawindah Brook project offers Cassini a well-priced entry into an exciting, early-stage exploration project that allows us to leverage our expertise in nickel-copper sulphide systems, and provides Cassini with further exposure to the evolving battery metals thematic,” Cassini Resources managing director Richard Bevan said in the company’s announcement to the Australian Securities Exchange.
“Cassini’s technical team have generated a number of priority targets that we look forward to drilling as soon as the access agreements have been finalised.”
The Yarawindah Brook project is located northeast of Perth, on agricultural land near the township of New Norcia.
It has had limited nickel, copper and cobalt exploration, despite a favourable regional setting, prospective geology and near-surface occurrences of nickel and copper mineralisation.
Historic exploration focussed primarily on a small platinum and palladium (PGE’s) resource which Cassini views as a pathfinder anomaly for potential massive nickel – copper – cobalt sulphides.
The company completed an airborne electromagnetic survey (AEM) over the project in early 2018 identifying conductors it determined worthy of further investigation.
A surface fixed loop electromagnetic (FLEM) survey has also been completed over some of the higher-priority AEM anomalies in order to confirm and better constrain the conductors prior to drilling.
Cassini said the FLEM reinforced the XC05 and XC06 anomalies as priority targets along with down-plunge testing of YWRC083.
The company has been encouraged enough by exploration results to date to add further tenements along strike, taking the total land position to146 square kilometres.
Cassini is currently seeking an access agreement with local landholders and environmental approvals in preparation for drill testing.