Caspin Resources Ltd (ASX:CPN) has received its first results from the current drilling season at Serradella Prospect within the Yarawindah Brook Project in Western Australia.
The results returned high-grade zones of platinum group elements (PGE), nickel and copper within broad zones of mineralisation:
- 3.89 metres at 3.23 g/t 3E, 0.27% nickel and 0.31% copper from 95 metres in YARCD0052;
- 109.6 metres at 0.43 g/t 3E, 0.17% nickel and 0.13% copper from 170.4 metres in YARCD0046 including 1.1 metres at 0.54 g/t 3E, 1.12% nickel and 1.28% copper from 207.2 metres and 10.9 metres at 0.99 g/t 3E, 0.16% nickel and 0.15% copper from 260.1 metres; and
- 38.63 metres at 0.65 g/t 3E, 0.12% nickel and 0.11% copper from 66.37 metres in YARCD0049 including 1.4 metres at 2.51 g/t 3E,0.47% nickel and 0.34% copper from 339 metres./
Serradella Prospect geology, drill hole locations and selected significant intercepts.
The company is still hard at work with more results to come as it conducts an extensive ground moving-loop EM survey to assist in targeting potential massive sulphide at depth.
Caspin also notes that a further 31 holes have been completed or are in progress, with results pending and drilling continuing.
Current drill program
Caspin has multiple drill rigs on site at Serradella to outline additional zones of PGEs, nickel and copper.
This program is designed to test continuity of mineralisation in the near-surface or ‘Upper Serradella’ position as well as potential grade concentrations in the down-plunge position towards the conceptual basal contact of the intrusion.
Early drill holes were sited according to paddock accessibility, approximately down dip of mineralisation identified in YARC0036 (17 metres at 2.33 g/t 4E and 0.17% nickel, and 25 metres at 1.01 g/t 3E and 0.16% nickel.
YARCD0052 was drilled on an intermediate section line between those of YARC0022 and YARC0036 in an area of limited accessibility.
The hole has produced the standout 3.89-metre result from only 95 metres downhole. The zone of mineralisation appears to correlate with similar rock types and shallow mineralisation in YARCD0025, approximately 100 metres further north.
Full results and details of drilling can be seen below:
The result gives Caspin an additional drilling target for the current campaign.
Caspin starts MLEM survey
Caspin has started an MLEM survey at Serradella and the surrounding area.
MLEM is a ground-based geophysical technique designed to identify hidden conductive bodies, such as accumulations of massive sulphide, below the surface. It has much greater penetrative qualities than airborne systems and in good ground conditions can be effective up to depths of several hundred metres.
The survey provides a means of direct targeting of massive sulphide accumulations, beyond the limit of current drilling and is expected to take several weeks to complete.
Moving loop electromagnetic survey in progress at Yarawindah Brook, February 2023.
What to expect next
It is steady progress at Serradella at the moment with two rigs in operation.
C29 is drilling to test the lower Serradella position to the northeast of the intrusive complex and will be increasingly aided by the results of the MLEM survey.
The company has completed more than 30 holes in the current campaign with assays to come over the following months.
Selected intervals from these new assays have been re-submitted for full six PGE assay.
C29 has a large number of samples awaiting analysis and believes that there may also be potential for widespread rhodium enrichment of these mineralised zones.