Big picture - Why invest in Cassini Resources Ltd
Cassini Resources Ltd Snapshot
Cassini Resources Limited (ASX:CZI) is an ASX-listed base and precious metals explorer and developer. The Company’s flagship West Musgrave Project, located in Western Australia was acquired from BHP Billiton in 2014 and hosts a number of nickel and copper deposits as well as providing significant exploration upside.
WEST MUSGRAVE PROJECT (CZI – 100%) (Ni, Cu)
Since first listing on the ASX in 2012, Cassini remains committed to identifying commercial mineral deposits in the West Musgrave area, and believes that the region will become the next frontier resources province in Australia.
The West Musgrave Project is located in an exciting and relatively underexplored region of Western Australia, and is highly prospective for nickel-copper-PGE sulphide deposits. The project area was first subjected to modern exploration by BHP Billiton in the mid 1990’s, which culminated in the discoveries of the Nebo and Babel (Nebo-Babel) deposit in 2000, and later, the Succoth deposit in 2013.
Cassini Resources acquired 100% ownership of the West Musgrave Project from BHP Billiton in 2014, and is now planning to rapidly develop the project towards production.
West Arunta (X17), WA
The West Arunta (X17) Project is a greenfields exploration project located in the Gibson Desert region of WA. It is highly prospective for Copper-Gold and Lead-Zinc mineralisation.
The primary target at X17 is located in an area that has had limited previous exploration. Historical data collected by the Geological Survey of Western Australia (GSWA) has indicated the existence of a large geochemical anomaly, with elements identified that are commonly associated with hydrothermal gold and base metal mineralisation. While some of the margins of this anomaly have been tested via drilling, the primary anomaly has never been tested.
In October 2015, Cassini conducted a regional geochemical survey identifying three significant Zinc (Zn) – Lead (Pb) anomalies. Evidence for a major Zn-Pb mineral system presented in both soil and lag geochemical results from the survey (1000m x 500m sample spacing) verified in the field by portable XRF. Three large, coherent soil anomalies, identified Zn values up to 10 times background, with supporting anomalism in Pb, Copper (Cu) and Silver (Ag), with gossans confirmed at each prospect. Coincident Cadmium (Cd) anomalism was present in the lag geochemical results. These lag anomalies are interpreted to lie on a single continuous stratigraphic horizon, referred to as the Dione Horizon spanning 35km. The prospects have been named Enceladus, Iapetus and Rhea.
Cassini’s approach with X17 will be to assess results of the recently completed geochemical survey, with the objective of testing prospects with a reconnaissance-style drill program to identify economic primary mineralisation beneath the gossans. The Company plans to proceed with all necessary heritage and environmental approvals as soon as possible.
Nevada Projects, USA
Cassini believes Nevada to be an excellent exploration jurisdiction given it has a long mining history multiple major players operating in the area, significant recent discoveries as well as excellent local infrastructure and a high level of available mining expertise. Nevada is known as “Elephant County” with seven +20 million ounce gold deposits and 150 years of exploration history, with a number of significant discoveries made in recent times.
Cassini holds three properties in Nevada; White Flats, Cortex East and Quinn Canyon which are currently subject to early stage exploration programs including mapping, soil and rock chip sampling.
White Flats is located 16km SSW of the city of Elko and is targeting Carlin-style gold mineralisation. The project is a greenfields exploration asset, in a relatively unexplored area.
Soil samples conducted by BHP and Noranda resulted in samples up to 750 ppb gold over a strike length of roughly 2 km. Rock chip sampling also by BHP and Premier located altered carbonate and clastic sedimentary rocks containing up to 3,430 ppb Au.
Cortez East is located 18km east of the Barrick Gold Corporation operated Cortez Gold Mine, in Eureka County. Barrick has substantial gold reserves at Cortez, reporting 11 million ounces of proven and probable reserves.
Cassini completed a reconnaissance soil geochemistry program on 1 July 2014 comprising 1800 samples collected on a 100m by 30m grid. Preliminary results have been received and initial interpretation indicates another geological mapping and rock sampling program is required to follow up results from the soil sampling.
Quinn Canyon is located in Nye County, 135 km SSW of Ely, in an area with no significant past or present gold producing mines. The Project has been over-looked by other companies as it does not lie within any currently recognised gold “trend”, and consequently has received little previous exploration. However, the property contains large (up to 200m wide) outcrops of jasperoid (siliceous rock formed by hydrothermal alteration of limestone, often associated with Carlin-type gold mineralisation) with highly anomalous gold content. As such, the project represents an opportunity to discover a new gold camp in Nevada. The project area is mountainous, with good exposure of the geology, making target identification relatively inexpensive.
Last updated 29th March 2016.
Michael (Mike) Young
BSC (Hon), MAIG, MSEG
Mike is a geologist and graduate of Queens University, Canada with a Bachelor of Science (Honours) degree in Geological Sciences. His experience includes base metals, iron ore, uranium and gold, with a strong focus on mine-camp exploration, resource definition, and mine development. Mike became the Managing Director of ASX-listed BC Iron Ltd in 2006. During his tenure, BC Iron successfully made the transition from an exploration company to its current position as a significant iron ore producer.
Mike is currently the Managing Director and CEO of Vimy Resources (ASX: VMY), a Western Australian uranium development company, and is also a non-executive Director of Ascot Resources Limited (ASX: AZQ).
Richard has experience as a Managing Director/Chief Executive Officer and non-executive Director for listed and unlisted companies. He brings experience in the execution and integration of mergers, acquisitions and other major corporate transactions and has been involved in a number of business areas as diverse as healthcare, construction and engineering, mining technology and information services. His roles within these businesses have included operational management, implementing organic growth strategies and acquisitions and assisting with capital raisings.
Richard is a member of the Australian Institute of Company Directors and is currently a non-executive director of Empired Ltd (ASX: EPD).
Greg graduated as a geologist from the Australian National University in Canberra and has since worked in a number of different commodities and mineral provinces across a broad portfolio of grass roots to development projects. He has been involved as a director with various junior mining companies including IPO’s, providing technical expertise in exploration, project management and acquisitions. Greg has extensive experience in the exploration and delineation of mineral resources and has lead successful teams in the discovery of new gold, iron ore and base metal resources. Professional highlights include involvement in the discovery of the 2.3Moz Centenary Deposit at the Darlot Gold Mine in the Eastern Goldfields, WA and the 40Mt Mount Caudan Iron Ore Deposit in the southern Yilgarn, WA.
Greg is a member of the Australian Institute of Geoscientists and has a current Directorship with Blackham Resources Limited (ASX:BLK).
Dr Jon Hronsky
BAppSci, PhD, MAIG, FSEG
Jon has more than 30 years of experience in the mineral exploration industry, primarily focused on project generation, technical innovation and exploration strategy development. Jon has worked across a diverse range of commodities and has particular expertise in targeting for nickel sulfide and gold deposits. His targeting work led to the discovery of the West Musgrave nickel sulfide province in Western Australia.
Jon is currently Chairman of the Board of the Centre for Exploration Targeting in Western Australia and Chairman of the Australian Geoscience council. He was the 2009 Society of Economic Geology Distinguished Lecturer. Jon is one of the Principals at geological consultancy Western Mining Services. Prior to joining WMS, Jon was Manager-Strategy & Generative Services for BHP Billiton Mineral Exploration and before that, Global Geoscience Leader for WMC Resources Ltd.
B. Com, CA
Phil Warren is a chartered accountant and executive director of corporate advisory firm Grange Consulting Group with over 18 years of experience in finance, accounting and corporate roles in Australia and Europe. He has specialised in company valuations, mergers and acquisitions, capital raisings, debt financing, financial management, corporate governance and company secretarial service for a number of public and private companies.
Phil has established a number of ASX listed companies from initial unlisted shell seed raisings through to asset acquisitions leading to ASX listings. He continues to act as corporate advisor to some of these companies and currently sits on a number of unlisted company boards in his capacity as finance director. Other current directorships include non-executive director of ASX listed Rent.com.au (RNT).
Steven is a Corporate Advisor at Grange Consulting Group, where he specialises in corporate advisory, company secretarial and financial management services. He is a Chartered Accountant and since joining Grange he has been involved in various private and seed capital raisings as well as successful ASX listings, whilst also providing company secretarial and financial management services to both ASX and unlisted public companies.
Prior to joining Grange, Steven started his career in the Perth office of Pitcher Partners where he spent several years in their corporate re-structuring division.
(click here for the technical team)
Last updated 29th March 2016.
945 Wellington Street
WEST PERTH WA 6005
Telephone: +61 8 9322 7600
Facsimile: + 61 8 9322 7602
Principal Place of Business
10 Richardson Street
WEST PERTH WA 6005
Telephone: +61 8 6164 8900
Facsimile: +61 8 6164 8999
PO Box 685
WEST PERTH WA 6872
Email: [email protected]
Richard Bevan – Managing Director
Greg Miles – Executive Director
Mike Young – Non-Executive Chairman
Phil Warren – Non-Executive Director
Dr Jon Hronsky – Non-Executive Director
Level 6, 141 St Georges Terrace
Perth WA 6000
Level 4, Next Building
16 Milligan Street
Perth WA 6000
BDO Kendalls Audit + Assurance (WA) Pty Ltd
38 Station Street
Subiaco WA 6008
Last updated 29th March 2016.