Caspin Resources Ltd (ASX:CPN) has discovered several new platinum group element (PGE)-nickel-copper soil anomalies in areas with no previous PGE-nickel-copper exploration at its Yarawindah Brook Project in Western Australia.
The company recently completed a drilling program at the Yarabrook Hill prospect and is now undertaking an extensive soil geochemistry program across the entire project area.
Excitingly, the tenor of the soil anomalies discovered to date is comparable to those overlying Chalice Mining Ltd’s (ASX:CHN) (OTCMKTS:CGMLF) (FRA:C8U) Gonneville discovery, around 40 kilometres south of Yarawindah Brook.
Soil geochemistry results
In a new announcement to investors, Caspin collated results from a recent soil geochemistry program across the Yarawindah Brook project.
“None of the project area outside Yarabrook Hill has undergone exploration for PGE-nickel-copper mineralisation, so this is an exciting development that may lead to a suite of new prospects being identified for drill testing,” the company said.
“Approximately 65% of the project remains untested to date, with further soil sampling to be conducted as the company progresses access agreements across the project area.”
First pass sampling was completed on a 400-metre x 100-metre grid and infilled to 200 x 100 metres in prospective areas including Yarabrook Hill.
Sampling to date at Yarabrook Hill has defined a surface palladium anomaly (>6ppb) over at least 3 kilometres and beyond the extent of the historical drilling, with peak values reaching up to 331ppb (or 0.3 g/t).
This palladium anomaly is supported by both nickel (>150ppm), copper (>300ppm) and platinum (>6ppb) anomalism, which would be expected overlying PGE-nickel-copper basement mineralisation.
The recent sampling has extended the soil anomalism to the northwest of the recently completed drilling at Yarabrook Hill, with a large coherent PGE-nickel-copper anomaly extending over a 500-metre x 500-metre area.
It is this anomalism that is particularly exciting, as it is a potentially new, previously unrecognised intrusive position that has never been drill tested.
The soil survey has also recognised a second PGE-nickel-copper anomaly in a parallel position 500 metres to the east of Yarabrook Hill, striking over 1.2 kilometres, an area that has had very limited drilling and no bedrock exposure.
The source of the anomaly is unknown but may represent an upthrown faulted extension of the main intrusion or a separate, unrecognised intrusion.
New anomalies under investigation
Anomaly A, about 5 kilometres north of Yarabrook Hill, has two coherent “lobes” each 600 to 800m long with a peak palladium value of 11ppb, and remain open to the north and east. It has peak nickel and copper values of 47ppm and 129ppm, respectively.
Anomaly B, approximately 6km northeast of Yarabrook Hill, is a multi-lobe anomaly with the main lobes 700 to 800 metres long with an additional lobe 200 metres further south with a peak palladium value of 8ppb.
It is supported by nickel (peak of 122ppb) and copper (peak of 117ppb) and remains open to the north beyond the extent of sampling.
Infill soil sampling on 200 x 100-metre spacings is planned to refine several of these new PGE anomalies.
- Daniel Paproth