Company
ASX:CPN
Caspin Resources Ltd (ASX:CPN) is a mineral exploration company based in Western Australia and focused on the Yarawindah Brook Project and the Mount Squires Project. At Yarawindah Brook, north of Perth, Caspin is exploring Australia’s newest nickel-copper-PGE province, advancing exploration on multiple fronts using soil geochemistry and airborne EM in search of new sulphide deposits. At Mount Squires, Caspin has identified a 50-kilometre structural corridor with gold mineralisation.
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"This is the first time we’ve been able to demonstrate continuous PGE mineralisation from surface into the basement rocks at potentially economic levels," said CEO Greg Miles.
Caspin has defined three new prospective targets and emphasised the prospectivity of its XC-22 prospect with exploration drilling. The company will follow up with further electromagnetic and geochemical surveying and drilling slated to resu
“As we know, the price of fuel is linked to oil prices, so the question that needs to be answered is will oil prices rise or fall into Christmas and the new year. At the risk of being a two-handed economist, I don’t believe oil prices will
The explorer is digging deeper at the XC-22 airborne electromagnetic (AEM) anomaly, where a recent drill hole intersected a 2-metre zone of up to 20% sulphides from 46 metres downhole.
The exploration drilling program is targeting mineralisation at Yarabrook Hill prospect of the Yarawindah Brook PGE-Nickel-Copper Project in Western Australia.
One hole returned 263 metres at 0.24 g/t 3E (palladium-platinum-gold), 0.11% nickel and 0.13% copper, including a peak result of 2 metres at 2.13 g/t 3E, 0.33% nickel and 1.04% copper from 46 metres.
During FY2020-21, Caspin’s technical team has demonstrated the potential of the Yarawindah Brook Project to host deposits of palladium, platinum, nickel and copper.
The mineral exploration company is more than halfway through a drilling program at the multi-element Yarawindah asset, where it believes a mineralised intrusive complex bears great scope.
A recent gravity gradiometer survey has revealed the Yarabrook Hill intrusion has “much greater extent” than previously mapped and drilled.
The reverse circulation program of around 5,000 metres will include large step-outs between recent drill holes over 1.25 kilometres of strike.
The raising was cornerstoned by Caspin’s existing major shareholders including Chalice Mining Ltd and Tinci Materials who subscribed for $900,000 and $1.97 million, respectively.
The placement was strongly supported by Caspin’s existing major shareholders including Chalice Mining and Tinci Materials who subscribed for $900,000 and $1.97 million respectively.
Securities will remain in trading halt until Wednesday, July 14, 2021, or when an announcement is released to the market.
The strongest mineralisation at the interpreted base of ultramafic section of the intrusion, not tested by previous drilling, provides a clear target for follow-up exploration.
The company is planning a new IP survey over the Duchess prospect to identify potential sulphide mineralisation that may represent a blind porphyry copper style deposit.
In the latest positive news from the Western Australia-based project, the Yarabrook Hill PGE-nickel-copper soil anomaly extends beyond 3 kilometres.
It looks forward to providing further updates on the drilling program at its Yarawinda Brook Nickel-Copper-PGE Project as they come to hand.
Multiple sulphide zones were intersected over 250 metres in the two holes in the drilling program, with disseminated copper sulphides observed, consistent with target PGE mineralisation style.
One of the holes intersected a broad zone of sulphides over 26 metres including an upper zone of stringer to semi-massive sulphides over 6 metres.
The program consists of around 1,000 metres of diamond drilling at the XC-29 anomaly and the new PGE sulphide target.
