- Caspin Resources (CPN) hits broad zones of gold-silver and copper-molybdenum mineralisation at its Mount Squires project in Western Australia
- The company receives drill results from its first phase of reconnaissance aircore drilling at the Duchess prospect in the West Musgrave region, where 81 holes were drilled
- Caspin says it identified a gold-silver trend, dubbed Duchess West, along with a copper-molybdenum trend named Duchess East
- Following the success of the drilling, a 5000-metre infill and extension aircore drilling program is now underway
- Caspin Resources is up 9.38 per cent and trading at 70 cents at 2:57 pm AEST
Caspin Resources (CPN) has hit broad zones of gold-silver and copper-molybdenum mineralisation at its Mount Squires project in Western Australia.
The company received drill results from its first phase of reconnaissance aircore drilling at the Duchess prospect in the West Musgrave region.
The aircore program comprised 81 holes for 2394 metres, which identified two “distinct” mineralisation trends — a gold-silver trend, dubbed Duchess West, and a copper-molybdenum trend named Duchess East.
Duchess West returned results including 44 metres at 1.45 grams per tonne (g/t) silver and one metre at 0.2 g/t gold to bottom of hole.
This marks the first time silver mineralisation has been reported in the area. As such, the company said this discovery represented a new mineralisation style for the project and potentially the broader region.
Over at Duchess East, the company intersected 21 metres at 63 parts per million molybdenum and 20 metres at 1013 parts per million copper.
Caspin Chief Executive Officer Greg Miles said these were “excellent” results from a first-pass reconnaissance aircore program.
“The program has delivered exactly the results we were hoping for, confirming multi-commodity mineralisation over a very broad area,” Mr Miles said.
“This is a style of mineralisation not previously seen in the region which is exciting in a frontier province like the West Musgrave.”
The CEO went on to say the results were perfectly timed with the commencement of a follow-up program of extensional and infill drilling.
“It’s an exciting time to be active on this project, with the spotlight back on the West Musgrave Province.”
A 5000-metre infill and extension aircore drilling program is now underway in the area.
Caspin Resources was up 9.38 per cent and trading at 70 cents at 2:57 pm AEST.