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Cassini Resources Ltd.
Summary
| Project: | West Musgrave | |
|---|---|---|
| Deposit: | Yappsu | |
| Location: | Australia | |
| Commodities: | Copper-Nickel-Cobalt-PGM | |
| Date: | 9/10/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Scoping Study | |
| Report details: | 10-9-2018: Cassini Resources Ltd. announces an Exploration/Drilling Update report for its Yappsu deposit at the West Musgrave project. JV - Drilling results incl. 70.25m @ 0.48% Ni, 0.44% Cu, 0.02% Co, 0.34g/t PGE, 0.08g/t Au from 555m. Cassini Resources | |
| 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 a second significant intersection of nickel and copper mineralisation at the Yappsu 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 Pre-feasibility Study (PFS) on the Nebo-Babel Deposits as well as a regional exploration program. Including the barren interval between the two main zones, the diluted intercept is 80.3m @ 0.44% Ni, 0.44% Cu, 0.02% Co, 0.32g/t PGE and 0.09g/t Au, which is the thickest intercept of mineralisation drilled so far (Table 1). The thickness, grades and continuity of massive sulphide mineralisation, which has been intersected in almost every hole at Yappsu drilled to date, indicates the overall potential for the system to host additional significant accumulations of massive nickel sulphides. The intercept in CZD0079 complements the earlier result from CZD0076B of 77.8m @ 0.49% Ni, 0.49% Cu, 0.2% Co, 0.29g/t PGE from 545m, including 6.45m @ 1.67% Ni, 1.07% Ni, 0.14% Co and 0.49g/t PGE from 555.75m (Figures 1 & 3). This has confirmed the Company’s belief that historical drill holes had not intersected the core of the mineralised system. Mineralisation has continuity over 250m downplunge and remains completely open at depth and untested by current Downhole Electromagnetic (DHEM) or surface Moving Loop Electromagnetic (MLEM) systems. | |
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