THE DRILL SERGEANT: Caspin Resources (ASX: CPN) reported observations from ongoing RC and diamond drilling operations at the Yarabrook Hill prospect within the company’s Yarawindah Brook PGE-nickel-copper project in Western Australia.
Caspin Resources informed the market that RC drilling at the XC-22 airborne electromagnetic (AEM) anomaly intersected nickel and copper sulphide mineralisation.
The hits came in hole YARC0022 that intersected a sequence of intercalated gabbros and pyroxenites with intervals of peridotites hosting trace to disseminated sulphides.
The company has interpreted the mineralised zone to be at least 40 metres thick with up to 20 per cent sulphides over the first two metres and becoming more disseminated at depth.
All reported sulphide intersections to date are based on visual observations.
“Whilst still early days, given the current extreme delays on assay turn-around, we felt it prudent to advise the market of the exciting visual observations at XC-22,” Caspin Resources chief executive officer Greg Miles said in the company’s ASX announcement.
“The large size of the XC-22 anomaly suggests that if it is coincident with mineralisation throughout its entire extent then this could represent a significant body of mineralisation.
“Many more drill holes are required before this can be confirmed as a significant discovery and laboratory assays are required to confirm the tenor of any PGE mineralisation that may be present.
“This is an exciting development for the Yarawindah Brook project and the results to date have given us reason to review similar AEM anomalies in the region that, in light of this new information, are potentially significant.
“In addition, the remainder of the project area is about to be surveyed by AEM, commencing early in December.
“We look forward to providing further updates on RC drilling at XC-22 and the interpretation of stratigraphic diamond hole YAD0019 as they come to hand.”
Caspin drilled a second hole, YARC0023, approximately 175m along strike and down dip from YARC0022 that also intersected gabbro and pyroxenite sequences with trace to minor disseminated sulphides.
The company considers the intersections to be of some significance, saying they validate that the XC-22 AEM anomaly represents bedrock sulphides.
TO READ THE FULL ANNOUNCEMENT: CLICK HERE