Caspin Resources (ASX:CPN) is continuing detailed logging at the Yarawindah Brook Nickel-Copper-PGE Project in Western Australia, where diamond drilling recently completed two holes for a total of 601.6 metres.
Both holes encountered significant widths of sulphides.
The first hole, YAD0017, intersected several zones of disseminated sulphide typically around 1 to 3% by volume, consistent with that observed in nearby hole, DNN05.
Sulphide mineralisation occurred between 66.2 metres to 314.3 metres downhole, with distinctly more intense sulphide zones (up to around 15% based on visual inspection) at 68 metres, 156 metres and 308 metres.
Delivered “exactly what we wanted to see”
Chief executive officer Greg Miles said at the time: “The two holes at Yarabrook Hill have delivered exactly what we wanted to see, that is, mafic and ultramafic rocks with broad zones of copper and nickel sulphide mineralisation which we believe is a good visual proxy for potential PGE mineralisation.
“The holes are 1.25 kilometres apart, so the scale of the opportunity is significant.
“Now we wait with anticipation for the assay results.”
Next drilling program underway
In the meantime, Caspin has begun planning its next work program at Yarawindah, which has been supported by a co-funded drilling grant through the WA Government Exploration Incentive Scheme.
Miles continued: “This is going to allow us to drill the deepest hole at Yarabrook Hill to date and provide us with a huge amount of new geological information as well as another opportunity for discovery.”
Through an airborne electromagnetic (AEM) survey at Yarawindah in December 2020, the company identified new conductor targets, including multiple priority anomalies demanding immediate follow-up.
Of these, there was a 1.3-kilometre long anomaly along strike from the previously recognised sulphide mineralisation known as XC-29.
A maiden drilling program was conducted on the XC-29 anomaly in April 2021 with assays pending.
Neighbouring Chalice’s Julimar discovery
Yarawindah is 100 kilometres northeast of Perth in the emerging nickel-copper-PGE sulphide New Norcia province.
The project comprises a ground position of more than 400 square kilometres and lies around 40 kilometres north from Chalice Mining Ltd’s (ASX:CHN) (OTCMKTS:CGMLF) (FRA:C8U) recent high-grade Julimar nickel-copper-PGE discovery.
The New Norcia region is deeply weathered, with little fresh rock outcrop and extensively covered by cultivated farmland, which has impeded previous exploration.
Despite the presence of known nickel-copper occurrences discovered in the 1970s, most historical exploration has focused on surficial bauxite deposits.
As a result, there is a paucity of deeper, bedrock drilling and the geology is poorly understood.
Mount Squires Project
The company has also kicked off work on its Mount Squires Project in Western Australia, which Caspin says is highly prospective for gold, copper and nickel.
Mount Squires is a large scale, greenfield-style gold and base metal project. Gold mineralisation was first identified at the Handpump Prospect by Western Mining Corporation (WMC) during geochemical surveying in the late 1990s.
Caspin has recently conducted soil geochemistry samples along the Handpump trend.
These have been submitted for analysis and assays are pending.
Most of the project is yet to have any form of modern exploration.
Targeting nickel-copper mineralisation
The company's objectives are geared towards reconnaissance-style soil geochemistry as well as drilling along a 50-kilometres long structural corridor, which if proved positive, can be followed by targeted RC and diamond drilling.
Mount Squires is also contiguous with the West Musgrave Nickel-Copper sulphide Project, operated by OZ Minerals Limited (ASX:OZL) (OTCMKTS:OZMLF) (FRA:OXR) on the eastern tenement boundary.
Significant nickel-copper sulphide mineralisation has been found at the One Tree Hill Prospect, only 200 metres outside of the Mount Squires Project tenement boundary.
Caspin will continue to evaluate the potential for nickel-copper mineralisation along strike from the One Tree Hill prospect.