Cassini Resources Confirms Yappsu Mineralisation Hit

THE DRILL SERGEANT: Cassini Resources (ASX: CZI) announced a second serious intersection of massive sulphide mineralisation at the Yappsu prospect within the company West Musgrave Project (WMP) Joint Venture in Western Australia with OZ Minerals (ASX: OZL)

Cassini Resources released the assay results of diamond drill hole CZD0076B, from which it had previously reported visual observations in June.

The company said the best assay results for CZD0076B confirmed nickel and copper sulphide mineralisation in three distinct units:

1. A massive sulphide zone returning 6.45 metres at 1.67 per cent nickel, 1.07 per cent copper, 0.14 per cent cobalt and 0.49 grams per tonne platinum group elements (PGE).

These levels of cobalt and platinum group elements (PGE) are some of the highest recorded at the WMP;

2. An upper heavily disseminated zone of 15.25m at 0.6 per cent nickel, 0.77 per cent copper, 0.02 per cent cobalt, 0.31g/t PGE and 0.18g/t gold. Significant gold mineralisation potential has not been previously recognised.

3. A lower broad disseminated zone of 55.6m at 0.32 per cent nickel, 0.34 per cent copper, 0.01 per cent cobalt 0.23g/t PGE and 0.06g/t gold.

The combined weighted average of all intercepts is 77.8m @ 0.49 per cent nickel, 0.49 per cent copper, 0.2 per cent cobalt, 0.29g/t PGE.

Cassini described this as, “the most significant intercept at the prospect to date on a contained metal basis”, adding that it has confirmed its belief that historical drill holes had not intersected the core of the mineralised system.

Mineralisation has continuity over 250m down-plunge and appears to be strengthening at depth which remains completely open and is yet to be tested by the JV’s current Downhole Electromagnetic (DHEM) or surface Moving Loop Electromagnetic (MLEM) systems.

Additionally, the disseminated mineralisation has a weak EM signature and may extend up-plunge closer to surface than indicated by the EM models.

The up-plunge position has not been tested by drilling.

The company considers this result to be a turning point in the exploration of the Yappsu prospect within the context of the broader WMP.

It Although an early stage prospect, Yappsu is currently being pursued by the JV as an opportunity that could support the development of the Nebo-Babel deposits.

“The results from the first two holes at Yappsu are very significant,” Cassini Resources managing director Richard Bevan said in the company’s announcement t the Australian Securities Exchange.

“The mineralised trend north east of Nebo-Babel has now been shown to host some of the highest tenor sulphide mineralisation identified so far in the project area.

“This has big implications for our continued exploration programs and also for the development scenarios at Nebo-Babel, where the discovery of additional high-grade ore could materially impact the project metrics.

“The early success of our exploration program is a result of the significant work of our technical team and has demonstrated that our targeting strategy is becoming very efficient and effective indeed.”





Cassini Resources Intercepts Massive Sulphides at Yappsu

THE DRILL SERGEANT: Cassini Resources (ASX: CZI) announced a ‘significant’ intersection of massive sulphide mineralisation at the Yappsu prospect within the West Musgrave Project (WMP) in Western Australia.

Cassini Resources is conducting the current drilling as part of an Earn-in/JV Agreement with OZ Minerals Limited (ASX: OZL).

The JV Partners are currently undertaking a Pre-feasibility Study (PFS) on the Nebo-Babel deposits as well as a regional exploration program.

Diamond drillhole CZD0076B undertaken at Yappsu was designed to test two distinct ‘off-hole’ DHEM conductors identified from historical drilling.

The hole intersected 6.2 metres of massive sulphide corresponding with an area known as the upper ‘C’ conductor.

Cassini Resources said visual observations have identified pentlandite (nickel sulphide), chalcopyrite (copper sulphide) and pyrrhotite (barren iron sulphide) from 426.1m downhole.

A lower zone measuring over 60m wide, of disseminated and stringer sulphide mineralisation (varying from 5 to 20 per cent total sulphide) and also containing nickel and copper mineralisation was intersected below the massive sulphide.

The company explained this zone corresponds with another area – the ‘B’ conductor.

“Exploration at the prospect is at an early stage and at present mineralisation appears open in all directions,” Cassini Resources said in its ASX announcement

“The intersection is the thickest massive sulphide mineralisation drilled at the prospect to date.

“The hole is continuing through the barren footwall to a proposed depth of 600 metres to provide a suitable platform for DHEM.

“The drill core is currently being logged and cut on site before samples are expedited through the assay laboratory (along with samples from CZD0077 at the H-T Lode as announced on 21 June 2018) in Perth.”





Cassini Resources Commences WMP Regional Drilling Campaign

THE DRILL SERGEANT: Cassini Resources (ASX: CZI) is making progress on a regional exploration program underway at the West Musgrave Project (WMP) in Western Australia.

Cassini Resources is managing the exploration strategy program, which is funded as part of the Earn-in/JV Agreement the company has with OZ Minerals (ASX: OZL).

Under the Agreement, $4 million has been allocated for regional exploration during the current stage, which includes an ongoing Pre-Feasibility Study (PGS), with a further $4 million available during the next stage of the JV should OZ Minerals progress.

“The regional exploration strategy, managed by Cassini, is designed to identify additional high-value ore outside the Nebo-Babel deposits to complement the proposed mining operation,” Cassini Resources said in its ASX announcement.

“To achieve this, the company has identified a number of priority targets with the potential for providing high-grade nickel and/or copper mineralisation.

“The immediate priorities for 2018 program will be to follow-up the One Tree Hill discovery made in 2017, the Yappsu prospect, and further drilling at the Succoth copper deposit.”

Cassini has had Moving Loop Electromagnetic (MLEM) and Fixed Loop Electromagnetic (FLEM) surveys carried out to assist with drill targeting at the One Tree Hill and Yappsu prospects.

The new survey improved the MLEM response over the known mineralisation at Yappsu demonstrating a strong, discrete, late-time anomaly with a NW-SE trend yet the DHEM models could not fully explain the observed MLEM response.

“The new MLEM survey has provided additional confidence to drill targeting,” Cassini said.

“The primary target remains the confluence of DHEM plates from previous drilling.

“It is noted that the previous drilling has not tested the core of these conductors, yet holes have still returned significant mineralisation.

“The implication is that the core zones of the plates, all of which exhibit high modelled conductance, may consist of thicker and/or higher grade massive/matrix sulphide mineralisation.

“Drilling to test these conductors is now underway.”

At One Tree Hill, the MLEM survey defined a late-time conductive trend considered to be consistent with the position and depth of the known massive sulphides at the deposit.

The data has been interpreted to suggest that the small massive sulphide body defined by DHEM surveying was resolved from the surface, providing the company with confidence in other anomalies identified by the survey.

“The MLEM data suggests that the known massive sulphide mineralisation could extend as a narrow (less than 30m) zone over a strike extent of more than 700 metres in a NW-SE trend, perpendicular to general stratigraphy,” Cassini continued.

“There are a number of other interesting features in the survey, particularly a synclinal feature in the NE of the survey area.

“Conductors in this area are currently poorly constrained and require further evaluation.”





Cassini Resources Identifies West Arunta Drill targets

THE DRILL SERGEANT: Cassini Resources (ASX: CZI) has received results of an Airborne Electromagnetic (AEM) survey, flownover the company’s West Arunta project in Western Australia.

Cassini Resources said previous geological interpretation of the early stage sedimentary zinc exploration project was limited to a magnetic survey that had been processed to its limits, broad-spaced soil geochemistry and the very sparse geological data gathered from outcrop and drilling in 2016.

The recent AEM survey was able to map the stratigraphic horizons within the sedimentary basin and the ‘Dione Horizon’, which the company considers to be a discrete, sulphide or graphite-rich and perhaps locally mineralised stratigraphic unit within the broader Bitter Springs Formation.

Four datasets now support the conceptual targets at the Janus and Mimas prospects.

“With the addition of the AEM data, the conceptual targets at Mimas and Janus are now each supported by several anomalous features drawn from independent data sets and are clearly the highest priority targets for future drilling,” Cassini Resources said in its ASX announcement.

“A drill program has been designed to test the Janus and Mimas prospects, consisting of approximately 2,000 metres, which will take about two weeks to complete.

“Aboriginal heritage surveys have now been completed, paving the way for the drilling program to commence as soon as possible.

“Costs of the drill program will be off-set by the WA Government Exploration Incentive Scheme meaning shareholders will enjoy exposure to potential short-term exploration success with minimised down-side risk.”





Cassini Resources announces imminent West Musgrave Exploration

THE DRILL SERGEANT: Cassini Resources (ASX: CZI) announced an exploration program is set to commence at the West Musgrave Project (WMP) in Western Australia.

Cassini Resources explained the WMP is entering the second stage of the Earn-in/JV Agreement with OZ Minerals (ASX: OZL) that comprises a $15 million Pre-Feasibility Study for the Nebo-Babel deposits, with a concurrent exploration program of $4 million.

A further $4 million is also available during the next stage of the Joint Venture, for a total minimum of $8 million exploration spend over a maximum time of 2.5 years as part of OZL funded Earn-in/JV, with additional $4 million in next Stage.

Initial targets include the Yappsu prospect, which Cassini describe as being a Nebo look-a-like.

“(Yappsu was) Discovered in 2009, drilling initially targeted a surface moving loop electro-magnetic (MLEM) anomaly, with several holes intersecting a thick zone of disseminated mineralisation and importantly, including zones of high-grade massive to breccia nickel sulphides,” Cassini said in its ASX announcement.

“Platinum and palladium grades are significantly higher than Nebo and Babel and are potentially indicative of a higher tenor system.”

Previous results from Yappsu include: 2.55 metres at 2.42 per cent nickel, 0.48 per cent copper massive sulphide within 44.3m at 0.49 per cent nickel 0.48 per cent copper.

The upcoming work will also chase high-grade extensions at Babel to follow up earlier results that included:

25.1m at 0.94 per cent nickel 0.94 per cent copper.

“BW3 is the highest conductance DHEM plate in the entire Babel deposit and strikes over 300 metres, extending 230 metres to the west of WMN4049 which has not had any further drill testing,” Cassini said.

“The limit to the extent of the BW3 plate model is only constrained by distance from adjacent holes. Therefore, there is no conceptual reason why this mineralisation could not continue down-plunge.”

In early 2017, Cassini announced the discovery of copper mineralisation at One Tree Hill, approximately 13km southwest of Nebo-Babel.

This was only the 5th hole at the prospect targeting an off-hole conductor from an earlier hole drilled by Cassini in 2015.

The company will follow up the intersection of 3.2m at 2.16 per cent copper, 0.58 per cent nickel massive sulphide within 34m at 1.05 per cent copper with surface and downhole EM programs designed to generate new targets.