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Cassini Resources Ltd.

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Summary

Project:

West Musgrave

Deposit:Nebo
Location:Australia
Commodities:Copper-Nickel-Cobalt-PGM
Date:10/23/2018
Report Code:JORC
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Pre-Feasibility Study
Report details:23-10-2018: Cassini Resources Ltd. announces an Exploration/Drilling Update report for its Nebo deposit at the West Musgrave project. JV - Drilling results incl. 58m @ 1.30% Ni, 0.61% Cu, 0.05% Co, 0.23g/t PGE from 67m. West Musgrave Joint Venture partner
Resources:(not mentioned in this report)
CP/QP:[Overall Report]: Greg Miles (Internal)
ABSTRACT:West Musgrave Joint Venture partners Cassini Resources Limited (Cassini or Cassini Resources) and OZ Minerals Limited (OZ Minerals) are pleased to provide an update on the West Musgrave copper-nickel project in Western Australia (the Project or West Musgrave Project). Activities are part of the West Musgrave Pre-Feasibility Study (PFS) where OZ Minerals has recently progressed through the Stage 1 Earn-in requirement of contributing $22m to acquire a 51 per cent interest in the Project. The PFS commenced in November 2017 and significant progress has been made since field activities commenced in March 2018. The study is to be delivered in Q2 2019. Resource Infill Drilling Three reverse circulation (RC) drill rigs are continuing the resource infill program and are approximately 75% through a 40,000m program. The aim of the program is to improve resource confidence and allow a maiden Reserve estimate to be published with the PFS results. The program has also included several clusters of very closed spaced holes to determine short-range gradethickness variability, which will assist with resource confidence and classification.

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