Caspin Resources Limited (ASX: CPN) has recognised strong sulphide mineralisation in diamond drilling at the company’s Yarawindah Brook PGE-Ni-Cu Project in Western Australia.
The company has made steady progress at multiple targets across the project area since drilling re-commenced in early March.
We’ve made excellent progress over the past couple of months at Yarawindah Brook, drilling over 6,000m of RC and 2,500m of diamond core,” CEO, Greg Miles, said.
“We are really excited by what we’ve seen at the XC-22 Prospect, particularly the significant zones of sulphide mineralisation intersected in recent diamond drilling.
“Just as importantly, these zones appear continuous and predictable, which gives us some confidence that we’re on the cusp of a major discovery at Yarabrook Hill. We look forward to assay results in due course.
“To this end, we’re addressing the persistent delays in assay turn-around by utilising a second laboratory and streamlining our assay methodology.
“Meanwhile, we’re also drilling a number of peripheral targets, such as the Northwest soil anomaly and the Brassica Prospect, because we believe that Yarawindah Brook is a camp-scale intrusive complex, with multiple prospective settings and many opportunities for discovery.
“We’ll continue to evaluate new targets as we systematically collect data from across the project. I’d like to thank our technical team for their fantastic effort during this drill programme and hope they and our shareholders enjoy some reward in the not-too-distant future.”
Sulphides Intersected at XC-22
Since first identifying significant mineralisation at the XC-22 Prospect in November 2021, the company has now drilled a further 17 holes, stepping-out along strike and down-dip from the discovery hole, YARC0022.
The company has used magnetic imaging to map the prospective contact zone between upper pyroxenite (mafic) and lower peridotite (ultramafic) units which hosts the PGE-Ni-Cu mineralisation. The magnetic anomaly has a strike length over 1.2km long and is open down-dip, plunging to the northeast.
An important priority was to extend, with diamond tails, several RC holes that originally failed to reach target depth. Diamond tails have now been completed for YARC0025 and YARC0027, however YARC0024 was unable to be re-entered and extended. A new diamond hole, YAD0020, has been completed as a replacement.
