Early testing from Caspin Resources (ASX:CPN) demonstrates a very promising target at Serradella – The Market Herald

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  • Caspin Resources (CPN) publishes the first assay results from its drilling program on the Serradella prospect of its Yarawindah Brook PGE-Ni-Cu project in Western Australia
  • Early results confirm the potential for a large nickel-copper-PGE deposit which the company says provides critical clues to potential trends in mineralization
  • The CPN explains that the results support a new geological model, indicating a large untested search space and providing a vector to the more prospective basal position of the intrusion.
  • The majority of drill results at Serradella remain pending, with the company indicating that it will await results before commencing the next phase of drilling.
  • Caspin shares are up 10.5%, trading at 47.5 cents at market close

Caspin Resources (CPN) has released the first assay results from its drilling program on the Serradella prospect of its Yarawindah Brook PGE-Ni-Cu project in Western Australia.

Initial results have confirmed the potential for a significant nickel-copper-PGE deposit from five reverse circulation (RC) holes and two RC pre-collars, providing critical clues to potential mineralization trends.

Results at Serradella include 91 meters at 0.48 grams per tonne (g/t) palladium, platinum and gold (3E), including two meters at 1.04 g/t 3E, 0.22% nickel and 0.48% copper from 149 meters and three meters at 0.97 g/t 3E, 0.25% nickel and 0.35% copper from 213 meters.

The company explained that the results support a new geological model, indicating a large untested search space and providing a vector to the more prospective basal position of the intrusion.

CEO Greg Miles said the results signify Caspin’s belief that this part of the Yarabrook Intrusion is a markedly different and more prospective geological setting from Central Yarabrook Hill, which had been the company’s primary exploration focus. until recently.

“Our drilling has taken large steps through Serradella, which is technically more challenging but can be rewarded with faster advances to discovery,” he said.

“There are still many results to come, particularly in areas that we think are more promising (but) we believe these few results already provide us with direction for the next round of drilling.”

The majority of drill results at Serradella remain pending, which includes an additional 13 holes at Serradella, six nearby northwest ground holes and a small number of holes at Central Yarabrook.

The company believes that some are in a good position to further test the validity of the targeting model and will therefore await the results before starting the next phase of drilling.

Caspin shares rose 10.5%, trading at 47.5 cents at market close.

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