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Cassini Resources Ltd.
Summary
| Project: | West Musgrave | |
|---|---|---|
| Deposit: | One Tree Hill | |
| Location: | Australia | |
| Commodities: | Copper-Nickel-Cobalt-PGM | |
| Date: | 1/23/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-1-2017: Cassini Resources Ltd. announces an Exploration/Drilling Update report for its One Tree Hill deposit at the West Musgrave project. Drilling results incl. 34m @ 1.05% Cu, 0.12%Ni, 0.02% Co, 0.5g/t PGE from 332.0m. Cassini Resources Limited (ASX: | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Greg Miles (Internal) | |
| ABSTRACT: | Cassini Resources Limited (ASX:CZI) (“Cassini” or the “Company”) is pleased to report assay results from drill hole CZD0017 at the One Tree Hill Prospect, part of the West Musgrave Project (“WMP” or the “Project”), located in Western Australia, as part of the Earn-in/JV Agreement with OZ Minerals Limited (ASX:OZL) (“OZ Minerals”). The Company previously released visual observations of drill core on 8 December 2016 and now assay results have confirmed the significant discovery of magmatic Cu-PGE-Ni mineralisation at the One Tree Hill Prospect. Drill hole CZD0017 returned 34m @ 1.05% Cu & 0.5g/t PGE (Pt+Pd) from 332m, including a massive sulphide zone of 3.2m @ 2.16% Cu, 0.58% Ni, 0.10% Co and 1.0 g/t PGE from 344.6m coinciding with the targeted down hole electro-magnetic (DHEM) plate (Figure 1). PGE and Ni concentrations confirm a magmatic style of mineralisation, which is likely to be similar to Succoth and Nebo-Babel deposits. Furthermore, the apparent thickness of the gabbroic host intrusion being >120m, PGE concentrations (1.0 g/t) and multiple broad zones of strong PGE anomalism in almost every hole drilled to date at One Tree Hill are collectively all very strong indicators of a much larger mineralised system. The prospect now requires further testing by drilling and geophysics. Although Ni concentrations in the massive sulphides at One Tree Hill are low, presence of higher grade Ni zones within a potentially much larger mineralised system are possible, as has previously been invoked for the Succoth deposit. | |
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