Caspin Resources Ltd (ASX:CPN) has unearthed two broad zones of polymetallic mineralisation at the Mount Squires Project in Western Australia in first-pass reconnaissance aircore drilling, confirming the unique multi-commodity potential of the tenure.
The two new zones of mineralisation were discovered at the Duchess prospect, splitting the area into two distinct targets.
Duchess West produced an intercept of 44 metres at 1.45 g/t silver and 1-metre at 0.2 g/t gold at the bottom of one hole, further supported by a mineralised vein system discovered at surface, which returned a 2.46 g/t gold and 49.7 g/t silver rock chip sample.
The mineralisation here remains open under shallow transported cover, with a strike of at least 400 metres.
Duchess East returned a result of 21 metres at 63 parts per million (ppm) molybdenum and 20 metres at 1,013 ppm copper, again at the end of the drill hole and remaining open in all directions.
Rock chip sampling in this target area returned a molybdenum result of 60 ppm, with the mineralised anomaly striking some 1 kilometres in felsic (mineral prospective) volcanic rocks.
Aircore program delivers
“These are excellent results from a first-pass reconnaissance aircore program, designed to test the veracity of a large, polymetallic soil geochemical anomaly,” Caspin Resources CEO Greg Miles said.
“The program has delivered exactly the results we were hoping for, confirming multi-commodity mineralisation over a very broad area.
“This is a style of mineralisation not previously seen in the region which is exciting in a frontier province like the West Musgrave.
“The results are perfectly timed with the commencement of a follow-up program of extensional and infill drilling before we move to the One Tree Hill prospect in the coming weeks.
“Importantly, it also demonstrates that our soil sampling programs are effective at identifying basement mineralisation, which augers well for the other soil anomalies in the project and the large number of outstanding soil results due to be returned over the coming months.
“It’s an exciting time to be active on this project, with the spotlight back on the West Musgrave Province.”
Caspin has already begun a 5,000-metre infill and extensional drilling program at Duchess prospect, intending to investigate the polymetallic potential of the project further.
Encouragingly, the adjoining OZ Minerals West Musgrave Project recently received a final investment approval for development of the tenure.