Join our daily newsletter At The Bell to receive exclusive market insights
Caspin Resources Ltd (ASX:CPN) has picked up an impressive assay of 11 metres at 2.3% tin from 100 metres, including five metres at 4.63% Sn from 106 metres, from a recent drilling program at its Bygoo project in New South Wales.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The result was taken from just one hole (BRC004) in a 12-hole (1,400m) reverse circulation drilling program at the Bygoo North prospect, with assays being received from an initial two holes.
A significant takeaway from this assay is what it shows about the continuity of mineralisation in the Main Lode, where drilling results included 35 metres at 2.1% Sn from 43 metres (including five metres at 6.00% Sn from 65 metres) and 35 metres at 1.71% Sn from 94 metres (including six metres at 5.04% Sn from 106 metres).
This confirms the presence of a high-grade zone of tin, which was also noted for elevated levels of copper – with 3m at 0.76% Cu yielded from the same drill hole.
Managing director Greg Miles said this was an aspect worth watching, given copper’s status as an accessory metal to tin, with Metals X Ltd’s Renison project an example.
He added that the recent drilling at Bygoo North had underpinned the growing value of this project.
“These first results are a significant step in achieving our objectives to prove the continuity of high-grade lodes and demonstrate the potential to extend what is already a large body of tin mineralisation,” he said.
More market news
51st State: What is Trump’s endgame with tariffs – and what will it mean for Canada?
Meet GeoGeorge: The HotCopper poster so accurate he got hired as an analyst
“The result of 11m at 2.30% tin in BRC004 is of exceptional grade when compared to average grades of operating tin mines and with the tin price at over US$35,000 a tonne.
“Tin is trading at 3.5 times the copper price, to provide some comparison.”
Caspin shares have performed strongly following the news, and at 13:33 AEDT, they were trading at 6.5cps – a rise of 8.33% since the market opened.
Join the discussion: See what HotCopper users are saying about Caspin Resources and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
-1200x645-380x200.jpg)
