THE BOURSE WHISPERER: Cassini Resources (ASX: CZI) announced it has secured an option to acquire the Yarawindah Brook nickel-copper-cobalt project in Western Australia.
Cassini Resources explained that with its West Musgrave Joint Venture partner OZ Minerals (ASX: OZL) proceeding to Stage 2 of the project earn-in, the company is keen to recommence activities at its other, 100 per cent-owned exploration projects.
“Cassini is actively identifying and reviewing new exploration and development opportunities to complement its existing portfolio,” Cassini Resources said in its ASX announcement.
“As part of this process, Cassini has entered an option agreement to earn into the Yarawindah Brook project through private company Souwest Metals Pty Ltd, a company associated with Kalgoorlie prospector Mr Scott Wilson.”
Yarawindah Brook is located 130 kilometres northeast of Perth, in agricultural land near the township of New Norcia.
The project has only been subjected to limited nickel, copper and cobalt exploration despite having a favourable regional setting, prospective geology and near-surface occurrences of nickel and copper.
Historic exploration focussed primarily on a small platinum and palladium (PGEs) resource, which Cassini considers to be a, “path-finder” anomaly for massive nickel – copper – cobalt sulphides.
The most recent drilling, undertaken in 2007, targeted surface EM anomalies and returned encouraging results from hole YWRC0083 including:
7 metres at 1.3 per cent nickel, 0.22 per cent copper, 0.06 per cent cobalt and 432ppb lead from 74m.
Cassini indicated that no further follow-up drilling was conducted due to budget limitations of the previous operator during the exploration downturn post-GFC.
“Cassini views the project as an excellent opportunity to apply its geological expertise and learnings in nickel-copper systems from the West Musgrave project to an apparently similar mineralised system with only limited modern exploration,” the company added.
“Further, the project is conveniently located adjacent to roads and power, providing development advantages if exploration proves successful.
“The project provides Cassini with further exposure to nickel, copper and cobalt, three critical components of advanced technology and a decarbonised future.”