Caspin Resources Ltd (ASX:CPN) has welcomed “a significant breakthrough” following the latest results from the current drilling season at Serradella prospect within the Yarawindah Brook Project in Western Australia.
The company has received partial or complete assays from 20 holes of an extensive infill and step-out drilling program, which was designed to outline additional zones of near-surface platinum group elements (PGE), nickel and copper. It was also planned to test the basal contact of the host intrusion for new high-grade discoveries.
Highlights
These latest drill results demonstrate multiple zones of high-grade PGE-nickel-copper mineralisation extending for more than 1,000 metres of strike, which remains open.
Significant results from the latest assays include:
- 8.9 metres at 2.47 g/t 3E (palladium, platinum and gold), 0.22% nickel from 131.1 metres;
- 3.83 metres at 2.39 g/t 3E, 0.08% nickel from 380.25 metres;
- 4 metres at 1.16 g/t 3E, 0.16% nickel from 54 metres and 3 metres at 1.29 g/t 3E from 67 metres; and
- 5 metres at 1.16 g/t 3E, 0.15% nickel from 76 metres.
- 8 metres at 2.29 g/t 4E (0.17 g/t rhodium), 0.11% nickel from 114 metres; and
- 3.83 metres at 3.34g/t 4E (0.11 g/t rhodium), 0.27% nickel from 95 metres.
Surveying to refine targets
A ground survey is underway over the basal target zone and at nearby airborne electromagnetic (AEM) targets. The company’s refinement of its geological model has elevated previously lower-priority AEM anomalies.
“We’ve made a significant breakthrough in understanding the mineralisation style and geology of the Serradella Prospect,” Caspin chief executive officer Greg Miles.
“Recognising continuity of mineralised lodes over significant strike length, close to surface, is an important step in evaluating the resource potential of the prospect. The extent of these lodes is limited only by the sparsity of drilling.
“More importantly, we are still intersecting high-grade mineralisation over 1,000 metres from the original discovery, demonstrating that the Yarabrook Intrusion is a large mineralised system with excellent potential for a world-class deposit.
“It is also pleasing that we are now consistently (and predictively) intersecting significant rhodium mineralisation at Serradella. This adds significant value to our basket of metals and a point of difference between Yarawindah Brook and other Australian PGE projects.”
Results from a further 12 holes remain pending, several of which are holes drilled to the south of the hole that returned the best intercept to date at Serradella.
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