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Cassini Resources Ltd.
Summary
| Project: | West Musgrave | |
|---|---|---|
| Deposit: | Babel | |
| Location: | Australia | |
| Commodities: | Copper-Nickel-Cobalt-PGM | |
| Date: | 7/19/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Scoping Study | |
| Report details: | 19-7-2017: Cassini Resources Ltd. announces an Exploration/Drilling Update report for its Babel deposit at the West Musgrave project. JV - Drilling results incl. 8m @ 0.5% Ni, 0.4% Cu, 0.01% Co, 0.28g/t PGE from 118m. Cassini Resources Limited (ASX:CZI) ( | |
| Resources: | (Resource, I+I): 203.1Mt @ 0.41% Ni, 0.42% Cu, 149ppm Co, 0.08ppm Au at Nebo-Babel | |
| CP/QP: | [Overall Report]: Greg Miles (Internal) | |
| ABSTRACT: | Cassini Resources Limited (ASX:CZI) (“Cassini” or the “Company”) is pleased to provide a market update regarding Further Scoping Study (“FSS”) activities at the West Musgrave Project (“WMP” or the “Project”), located in Western Australia. This program of work represents the first stage of the Earnin/JV Agreement with OZ Minerals Limited (ASX:OZL) (“OZ Minerals”). The key outcomes of the FSS are to increase confidence in metallurgical performance of a full range of mineralisation types within the Nebo-Babel deposits. These results will then be used to update previous mining and processing studies in order to determine optimal size of the operation. In addition, all capital and operating costs are being reviewed and updated for inclusion in the current study. The Further Scoping Study (FSS) activities are progressing on schedule towards delivery in Q4 2017. The resource extension drill program at Babel targeted a number of modelled down hole electromagnetic conductors (DHEM), primarily outside the existing resource. There are a number of zones where mineralisation remains open, and these could provide future resource extensions. The program has had some success in demonstrating this potential with a best result of 8m @ 0.50% Ni, 0.40% Cu, 0.01% Co and 0.28g/t PGE including 2m @ 1.21% Ni, 0.22% Cu, 0.03% Co and 0.41g/t PGE in CZC0160. This hole is located near the northern “roll-over” contact at Babel which has returned numerous high-grade results in previous drilling. The down-plunge extension of the Startmeup Shoot was tested by holes CZC0156-158 but these holes have missed the host intrusion, most likely due to apparent down-faulting (Figure 2). | |
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