Caspin Resources Ltd has kicked off a moving loop electromagnetic (MLEM) survey at the Yarawindah Brook Project in WA, targeting 11 new electromagnetic (EM) conductors with high-grade nickel-copper-PGE massive sulphide potential at the Brassica Prospect.
These were identified during the re-processing of airborne EM survey data with the EM signatures supported by anomalous surface sampling and field mapping data, as well as historical drilling results, which graded up to 0.52 g/t palladium, 0.19 g/t platinum, 0.18 g/t gold, 900 parts per million (ppm) nickel and 900 ppm copper.
Caspin says these new magmatic sulphide intrusive targets have identical stratigraphic and structural positioning to Chalice Mining’s Gonneville deposit, which holds a resource estimate of 560 million tonnes at 0.88 g/t 3E (palladium, platinum and gold combined), 0.16% nickel, 0.09% copper and 0.015% cobalt.
A compelling target
“The company recognises the value creation of high-grade, massive nickel-copper-platinum group element (PGE) sulphide discoveries, transcending macroeconomic factors,” Caspin Resources managing director Greg Miles said.
“The massive sulphide prospectivity of the Yarawindah Project and surrounding region is typified by early drill results from the Gonneville deposit that focused on targeting electromagnetic anomalies, such as 19 metres at 2.59% nickel, 1.04% copper, 8.4 g/t palladium and 1.1 g/t platinum.
“The geological setting of the Brassica Prospect is strongly analogous to the Gonneville deposit as well as along strike on the same stratigraphic belt and further supported by historical exploration with anomalous nickel, copper and PGE results from limited drilling.
“The Brassica Prospect is a compelling target and the ground electromagnetic survey underway will provide a direct targeting mechanism for drill testing for massive sulphides.
“The company strongly believes in the prospectivity of the Yarawindah Brook Project for near-surface, high-grade nickel, copper and PGEs.
“The company will aim to realise this potential with carefully managed exploration programs and reward its shareholders with discovery success.”