Caspin Resources Limited (ASX: CPN) has begun RC drilling activities at the company’s wholly-owned Mount Squires Project in Western Australia.
The company has a large drilling programme planned to test multiple prospects and commodities over the coming weeks.
The programme will test a range of new prospects and targets developed by the company over the past 12 months. The company’s goals for the first stage of the drill programme are to:
1. Test the continuity of REE mineralization identified at Duchess East.
a. Extensions of mineralization within the weathered zone in the vicinity of MSAC0141.
b. Depth extensions of hard rock mineralization beneath MSAC0130 & MSAC0224.
2. Test the induced polarization (IP) anomaly immediately south of the Handpump Gold Prospect for the potential to host a major disseminated sulphide hosted gold deposit.
3. Test below previous intersections of shallow gold mineralization at the Handpump Prospect for significant down plunge extensions.
4. Test for bedrock gold mineralization beneath significant Air Core and rock chip results at Duchess West.
5. Test the nickel, copper and PGE geochemical anomalies at the Sienna, Auburn and Vermilion Prospects for the presence of bedrock mineralization.
The programme will comprise approximately 4,000m and is expected to run throughout June and into July. The company has capacity to extend the program if initial results provide encouragement.
The bulk of the drill programme is focussed on testing a range of nickel, copper, PGE and gold targets.
The planned programme has recently been expanded with the addition of new REE targets at Duchess East. The company is carefully assessing the REE opportunity at Mount Squires considering the outstanding result in drill hole MSAC0141 (22m @1.25% TREO).
Caspin will drill a small number of holes in the vicinity of MSAC0141, primarily through an area of deeper weathering associated with a paleochannel. Two short holes will also be drilled to test significant basement REE and molybdenum mineralization beneath holes MSAC0130 and MSAC0224, approximately 1,000m east of MSAC0141.
Soil geochemistry and ground geophysics programmes are continuing across the project. Results are expected in the coming weeks and may provide further refinement or additional targets, particularly at the Sienna, Auburn and Vermilion Prospects, for the coming drill program. Drilling will commence with testing of REE and gold targets on the western half of the project, before shifting to nickel, copper and PGE targets in the eastern half of the project.
For further information please visit: https://www.caspin.com.au/
