Caspin Resources Identifies High-Grade Nickel-Copper-PGE Potential at Yarawindah Brook

Caspin Resources Ltd (ASX: CPN) has made a breakthrough at its Yarawindah Brook Project in Western Australia, uncovering promising signs for nickel-copper-platinum group elements (PGEs) mineralisation at the Brassica Shear Zone in Western Australia.

This area has received less exploration compared to the Yarabrook Hill Prospect.

Large Conductors Point to Potential Magmatic Sulphide Deposit

A moving loop electromagnetic (EM) survey identified two significant conductors at Brassica.

These conductors measure 320 meters by 225 metres and 800 metres by 160 metres, located at depths between 250 and 300 metres. Their conductance levels are characteristic of sulphide bodies in the region.

Crucially, these conductors sit on a sedimentary-mafic/ultramafic contact, a geological position often hosting magmatic sulphide deposits, which are valuable for their nickel, copper, and PGE content.

Caspin Bullish on Discovery Potential

Caspin’s Managing Director, Greg Miles, expressed optimism about the findings. “Identifying EM conductors within an already promising geological setting is highly encouraging,” he said.

“Multiple datasets now point towards the significant potential for nickel-copper-PGE sulphide mineralisation.”

Miles highlighted Caspin’s belief in Yarawindah Brook’s value and its potential to yield discoveries of near-surface, high-grade nickel, copper, and PGEs. He emphasized the possibility of a significant discovery at Brassica, and the company’s eagerness to explore these new targets promptly.

Strategic Location near Chalice Mining’s Gonneville Deposit

The EM survey covered a 5-square-kilometre area across a large nickel-copper-PGE mineralised mafic-ultramafic intrusive complex.

This complex lies along the stratigraphic extension of rocks hosting Chalice Mining Ltd’s (ASX: CHN) world-class Gonneville Deposit.

Gonneville is known for being Australia’s first major PGE discovery and one of the few recent large-scale magmatic nickel-copper-PGE discoveries globally.

It’s a significant magmatic sulphide resource estimated to hold 560 million tonnes at around 0.54% nickel equivalent (NiEq) or 1.7 grams per tonne palladium equivalent (PdEq).

This translates to 16 million ounces of palladium-platinum-gold (3E), 860,000 tonnes of nickel, 520,000 tonnes of copper, and 83,000 tonnes of cobalt.

It’s worth noting that Chalice is Caspin’s largest shareholder, holding an 8.7% stake. With a market capitalization of $7.5 million and over $2 million in cash, Caspin presents an attractive opportunity for investors interested in the nickel-copper-PGE exploration space.

 

 

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