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Cassini Resources Ltd.
Summary
| Project: | West Musgrave | |
|---|---|---|
| Deposit: | One Tree Hill | |
| Location: | Australia | |
| Commodities: | Copper-Nickel-Cobalt-PGM | |
| Date: | 11/28/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 28-11-2018: Cassini Resources Ltd. announces an Exploration/Drilling Update report for its One Tree Hill deposit at the West Musgrave project. Drilling results incl. 24.65m @ 0.69% Cu, 0.10% Ni, 0.02% Co, 0.44g/t PGE from 337.0m. Cassini Resources Limited | |
| 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 announce results from recent drilling at the One Tree Hill Prospect within the West Musgrave Project (“WMP” or the “Project”) in Western Australia. The program is funded as part of the Earn-in/JV Agreement (“JV” or “the Agreement”) with OZ Minerals Limited (ASX:OZL) (“OZ Minerals”). The JV Partners are currently undertaking a Prefeasibility Study (PFS) on the Nebo-Babel Deposits as well as a regional exploration program. OZ Minerals recently moved to 51% beneficial ownership in the Project, having successfully reached the Stage 2 earn-in milestone 6 months earlier than required. Cassini Managing Director Richard Bevan commented, “The drilling results confirm our thinking that the mineralised system at One Tree Hill has scale. We have intersected more copper sulphide mineralisation and follow up DHEM has identified a significant conductor that could represent a large-scale extension to this mineralisation. We look forward to testing this target in our 2019 program”. Diamond Drilling Results Two diamond drill holes have been completed targeting moving loop electromagnetic (MLEM) anomalies and extensions to mineralisation encountered in CZD0017 (ASX announcement 5 June 2018). Drill hole CZD0083A, sited approximately 60m north of CZD0017, returned 24.65m @ 0.69% Cu & 0.44g/t PGE from 337m with a higher grade core of 9m @ 1.15% Cu & 0.64g/t PGE. The intersection also included a massive sulphide zone of 2.6m @ 0.96% Cu, 0.48% Ni, 0.10% Co and 1.0g/t PGE (Figure 1). Full details are in Table 1. The results are generally consistent with earlier results from CZD0017 which intersected a massive sulphide zone returning 3.2m @ 2.16% Cu, 0.58% Ni, 0.10% Co & 1.0g/t PGE within a broader disseminated zone of 34m @ 1.05% Cu & 0.5 g/t PGE from 332m. | |
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