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Cassini Resources Ltd.
Summary
| Project: | West Musgrave | |
|---|---|---|
| Deposit: | West Musgrave | |
| Location: | Australia | |
| Commodities: | Copper-Nickel-Cobalt-PGM | |
| Date: | 3/22/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-3-2017: Cassini Resources Ltd. announces an Exploration/Drilling Update report for its West Musgrave deposit at the West Musgrave project. Historical assay results incl. 5m @ 0.24% Co, 0.54% Ni, 0.03% Cu from 27m. Following numerous investor and shareh | |
| Resources: | ||
| CP/QP: | [Overall Report]: Greg Miles (Internal) | |
| ABSTRACT: | Following numerous investor and shareholder queries, Cassini Resources Limited (ASX:CZI) (“Cassini” or the “Company”) is pleased to provide a market update regarding the cobalt opportunities within the West Musgrave Project (“WMP” or the “Project”), located in Western Australia. The WMP is part of the Earn-in/JV Agreement with OZ Minerals Limited (ASX:OZL). The Company has initiated a review of the West Musgrave Project in light of the recent rises in the cobalt price and its implications for the Project. The most significant of these opportunities is the large of amount of contained cobalt in the Nebo–Babel deposits that would be produced as a by-product of nickel and copper production. The Nebo-Babel deposits contain approximately 30,000t of cobalt (Mineral Resource Statement in Appendix A) which is competitively placed against other cobalt dominant projects. Managing Director, Mr Richard Bevan, commented “The emerging theme of specialty metals associated with electric vehicles and other new technologies has gained substantial support over the last 12-24 months. In response to this, we have received significant inquiry from shareholders and the investment community on Cassini’s exposure to Cobalt. While Cassini remains focussed on developing the nickel and copper resources at the West Musgrave Project, the Company is well placed to benefit from increasing prices in cobalt. Cassini is able to differentiate itself from its competitors in this space by already having a large resource that is extractable using conventional processing technologies. Our well defined feasibility and development timeline should provide investors with confidence that Cassini will reap the benefits of rising cobalt prices in the short to medium term. We look forward to incorporating cobalt opportunities into our project-wide exploration strategy and continuing the development work on the Nebo-Babel Nickel-Copper Project with our partner OZ Minerals” | |
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