Caspin Resources Ltd (ASX:CPN) has intersected significant zones of sulphides in diamond drilling at the XC-29 Prospect within the Yarawindah Brook Nickel-Copper-PGE Project in Western Australia.
The maiden drill program at the XC-29 Prospect is now complete with three holes drilled for 438.1 metres.
Broad zone of sulphides intersected
Caspin’s second hole, YAD0015, is highly encouraging with a broad zone of sulphides intersected over 26 metres including an upper zone of stringer to semi-massive sulphides over 6 metres.
The sulphides are predominantly pyrrhotite (iron sulphide), with minor (locally up to 5% by volume) chalcopyrite (copper sulphide) and possible traces of pentlandite (nickel sulphide).
A lower zone of similar sulphide abundances was also intersected over about 2 metres.
Both sulphide zones correspond with the modelled positions of electromagnetic conductors.
Lab analysis to determine mineralisation
The first hole, YAD0014, intersected a 10-metre zone of stringer to matrix textured sulphide, pyrrhotite dominant with rare chalcopyrite.
The final hole in the current campaign at XC-29, YAD0016, intersected a narrow zone of semi-massive sulphide dominated by pyrrhotite, within a broad 17-metre zone of significant stringer sulphide.
Caspin currently has no estimate of potential PGE (platinum group elements) and gold mineralisation which can only be confidently determined through laboratory analysis.
Host lithologies comprise meta-sediments and strongly deformed mafic/ultramafic rocks.
“Hitting broad zones of potentially mineralised sulphide”
Caspin chief executive officer Greg Miles said: “This is a great start to our drilling program.
“Whilst still early days at XC-29, hitting broad zones of potentially mineralised sulphide in our first drilling program is very encouraging.
“The results so far suggest that not only is XC-29 prospective, but so too is the entire Brassica trend.
“Now we look forward to drilling a new PGE target at Yarabrook Hill which presents another excellent opportunity for discovery”.
Rig moved to Yarabrook Hill
Detailed logging is continuing before samples are submitted for assay.
All holes will be surveyed by downhole electromagnetics to evaluate the potential for ‘off-hole’ conductors and secondary drill targets.
The rig has now moved to test a new PGE target at Yarabrook Hill.