Western Australian based mineral explorer Caspin Resources (ASX:CPN) reports it has discovered a new ‘significant’ PGE prospect following reverse circulation (RC) drilling at its Yarawindah Brook PGE-Nickel-Copper Project in Western Australia.
The results, generated by 6 RC drillholes across a 900m by 600m PGE soil anomaly now known as the Vicia prospect, indicate that mineralisation was intersected in broad-spaced holes and confirm a strike length of over 600m that remains open.
‘Significant’ results from drilling include, 32m at 0.48g/t 3E from 58m, including 4m at 1.12g/t 3E from 81m (YARC0030) and 10m at 0.42g/t 3E from 42m including 2m at 1.13g/t 3E from 42 (YARC0032).
The Vicia prospect is located adjacent to the new Serradella discovery at the northern margin of the Yarabrook Intrusion, where the company has recently reported ‘high-grade’ and broad widths of PGE mineralisation, as well as ‘high-grade’ rhodium mineralisation.
Further infill and step-out drilling is expected to be conducted at the new prospect during the coming field campaign in order to determine the potential for economic bodies mineralisation.
Speaking on the results, Caspin Resources Chief Executive Officer, Greg Miles said: “This is a real bonus to what was already a very successful drilling campaign. Firstly, we previously thought the intrusion west of the Radio Tower Fault, was completely barren. This is clearly not the case and opens another future exploration front. Secondly, our soil geochemistry program is working extremely well to identify new bodies of mineralisation.
This bodes well for the large number of anomalies that have already been identified and waiting further exploration. One of those anomalies coincides with approximately 3km of the Hanging Wall Shear north of Serradella, suggesting mineralisation is continuous for a considerable distance down plunge from the mineralisation already discovered at surface.
“These results are another demonstration of the scale of the opportunity at Yarawindah Brook”
These results are another demonstration of the scale of the opportunity at Yarawindah Brook. The Yarabrook Intrusion is developing into a very large mineralised intrusive complex, with over 4km of strike and exceptional prospects for further economic discoveries. We’re looking forward to the recommencement of drilling, starting at Serradella, in the coming weeks.”
The company also notes that these results represent the first intersection of mineralisation beneath the Radio Tower Thrust, which was previously believed to be the footwall boundary to the mineralised footprint at the project, demonstrating further mineralisation potential.
In addition, results also include drillhole YARC0035, which is the northernmost hole at the Serradella discovery and has confirmed that the Yarabrook Intrusion plunges northwards underneath lithological cover, supporting Caspin’s targeting of deeper mineralisation at Lower Serradella.
The company’s flagship Yarawindah Brook project is located about 100km north of the state capital city of Perth in WA’s new PGE-Nickel-Copper West Yilgarn province. The project comprises a ‘significant’ ground position of over 400km-square and is strategically situated about 40km north from Chalice Mining’s discovery of a ‘high-grade’ Gonneville PGE-Ni-Cu deposit.
With results from the recent RC drilling now received, Caspin Resources announces that it will move forward with recommencement of drilling at the project planned over the summer months.
Images: Caspin Resources Ltd
