- Caspin Resources (CPN) begins drilling and geochemical soil sampling programs at its Mount Squires Project in Western Australia
- Previous work identified a zoned molybdenum-lead-copper-gold anomaly covering an area of over two squared kilometres, dubbed the Duchess Prospect
- Following reconnaissance aircore drilling at the prospect, the rig will move to the eastern boundary of the project, where the company expects to find extensions of the West Musgrave trend that hosts magmatic nickel-copper mineralisation
- The entire program will involve around 10,000 metres of drilling across both target areas, resulting in 2500 soil samples being collected over six weeks
- Caspin Resources last traded at 45.5 cents on June 20
Caspin Resources (CPN) has begun drilling and geochemical soil sampling programs at its Mount Squires Project in Western Australia.
The project is said to be prospective for copper-gold and nickel-copper styles of mineralisation. Previous soil geochemistry identified a zoned molybdenum-lead-copper-gold anomaly covering an area of at least two squared kilometres, which has since been dubbed the Duchess Prospect.
Testing of the Duchess Prospect is being partly funded under the WA Government’s Exploration Incentive Scheme.
Caspin’s Chief Executive Officer Greg Miles said the company is excited about finally getting back on the ground after a long pandemic-related disruption.
“The timing is excellent, while we wait for assays from our recent drilling at Yarawindah, we give our investors further exposure to discovery in another frontier with world-class potential,” Greg Miles said.
“Our primary focus will be on the Duchess Prospect, which because of its unique element zonation and sheer scale, demands to be drill tested.”
Following reconnaissance aircore drilling at the Duchess Prospect, the rig will move to the eastern boundary of the project, where the company said it expects to find extensions of the West Musgrave trend that hosts magmatic nickel-copper mineralisation.
Aircore drilling will take place in the area, due to its speed and minor expense, despite offering limited depth penetration.
Altogether, the program will involve around 10,000 metres of drilling across both target areas, resulting in 2500 soil samples being collected.
“We also recognise that we’re on the doorstep of one of Australia’s largest undeveloped nickel and copper deposits at Nebo-Babel. There are already multiple targets from limited exploration, and we think over time Mount Squires will grow into being a very important part of our portfolio,” CEO Greg Miles said.
The program is expected to take up to six weeks to complete.
Caspin Resources last traded at 45.5 cents on June 20.