It seems recent fieldwork at Caspin Resources Ltd (ASX:CPN)’s Yarawindah Brook Project has paid dividends, unveiling a new moving loop electromagnetic (MLEM) anomaly at the Serradella prospect in WA’s West Yilgarn region.
The platinum group element (PGE) target was recently home to a ground surveying mission, designed to test prospectivity across Serradella’s northern extensions.
Interestingly, the prospect’s emerging anomaly is likely hosted in ultramafic rocks directly along strike from PGEs found in recent drilling — a shot in the arm for Caspin’s wider exploration strategy.
Some of the best hits from recent exploration include 17 metres at 2.33 g/t platinum, palladium, rhodium and gold (4E) and 8.9 metres at 2.47 g/t platinum, palladium and gold (3E).
Caspin’s new-found conductor is a priority drill target and the explorer is weighing up how it can best test the PGE anomaly moving forward.
The large MLEM conductor identified in Serradella’s northern extensions.
“Very compelling target”
Caspin's latest anomaly comes just one week after the explorer extended high-grade mineralisation at Serradella to more than 1,000 metres.
In light of the news, chief executive Greg Miles said the new conductor represented “an exciting development” for the Serradella prospect.
“Recent drill results have demonstrated that near-surface mineralised lodes remain open along strike to the north and this is where the MLEM conductor has been identified. It is, therefore, a very compelling target.”
Miles went on to say there was plenty more to learn about the Yarabrook Intrusion, although one fact remained undisputed: “the mineralised system is large, and much of the intrusion is yet to be adequately explored by any method.
“This result provides the company some confidence to continue using electromagnetic techniques as a method of exploration, particularly for prospective rocks with no surface expression,” the CEO explained.
Caspin is still waiting for assays from another 12 drill holes — results from which will inform its next steps.
However, when the program resumes, the explorer is eager to hit the ground running at this emerging PGE target.
Project perspective
Serradella is just one target at the polymetallic Yarawindah Brook project — a regional-scale asset in a highly prospective PGE-nickel-copper province.
Yarawindah is just 45 kilometres from Chalice Mining Ltd (ASX:CHN, OTCQB:CGMLF)’s famed Gonneville deposit, an 11-million-ounce palladium, platinum and gold and 560,000-tonne nickel opportunity.
Yarawindah project surrounds.
Given the neighbouring prospectivity, Caspin is on a mission to unlock Yarawindah Brook’s inherent potential, making it an early mover in this emerging district.
The company’s recent drilling campaigns at Yarabrook Hill have made new PGE, nickel and copper discoveries of PGE, nickel and copper sulphide but the company remains focused on developing a suite of drill-ready targets for future exploration.
Read more on Proactive Investors AU
