- Caspin Resources (CPN) releases “impressive” new assay results from the Serradella prospect at the Yarawindah Brook PGE-nickel-copper project in WA
- The results confirm a significant PGE discovery at Serradella within an emerging PGE-nickel province, says the company
- Assays for several key drill holes remain pending which the company has previously released observations of apparent mineralisation
- Caspin believes the pending results will help refine the current interpretation and the focus for infill drill targeting which is currently being planned as a follow-up program
- Shares in Caspin are up 7.22 per cent, trading at 52 cents as of 1:14 pm AEST
Caspin Resources (CPN) has released “impressive” new results from the Serradella prospect at the Yarawindah Brook platinum group element (PGE)-nickel-copper project in WA.
The company said the results confirm a significant PGE discovery at Serradella within an emerging PGE-nickel province.
The best results from the prospect include 17 metres at 2.13 grams per tonne (g/t) platinum, palladium and gold (3E) and 0.17 per cent nickel including three metres at 5.48 g/t 3E and 0.17 per cent, and 25 metres at 1.01 g/t 3E and 0.16 per cent nickel within YARC0036.
This exceeds the original discovery intercept in YARC0022 of 13 metres at 1.08 g/t 3E and rhodium (4E), 0.26 per cent nickel and 0.21 per cent copper, approximately 300 metres along strike to north.
CEO Greg Miles said the results provide a major breakthrough for the project.
“We’ve always believed that Yarawindah has the potential for a large economic deposit of PGEs, nickel and copper. Now that potential is starting to be realised,” he said.
“These results far exceed the magnitude of our original discovery hole and confirms that we’re on a pathway to discovery.”
Mr Miles also acknowledged that there is still much to learn about the system.
“Whilst our broad scale targeting model still holds, we recognise there is an additional layer of more detailed control on high-grade mineralisation that we are yet to understand.
“We will need to infill the drill hole spacing to further define this high-grade zone, yet the best mineralisation may still lie beyond the deepest of our step-out holes.”
Assays for several key drill holes remain pending, including YARCD0025 and YARCD0027 which the company has previously released observations of apparent mineralisation.
Caspin believes the pending results will help refine the current interpretation and the focus for infill drill targeting.
A follow-up program is currently being planned.
Shares in Caspin were up 7.22 per cent, trading at 52 cents as of 1:14 pm AEST.