Cassini Resources Hits New Ni-Cu-PGE Sulphide Prospect at Yarawindah, Geochemistry and EM Studies Underway

Based in West Perth, precious and base metals developer and explorer, Cassini Resources Limited (ASX:CZI) has announced excellent diamond drill results, confirming further substantial nickel and copper prospect at the Yarawindah Brook project, located on agricultural land 20km south of the township of New Norcia, Western Australia.

The 9-hole 1,148 metres maiden diamond drilling program led to the discovery of a high-grade nickel and copper mineralisation, presenting new opportunities for further exploration.

Ovis Identified- Third Ni-Cu-PGE Sulphide Prospect

CZI identified the new prospect with strong Ni-Cu-PGE sulphide mineralisation and named it as the “Ovis Prospect”, located ~400 metres east of the Avena Prospect, which resulted in significant mineralisation including an intersection of 0.12 metres with 5.97% Ni, 0.75% Cu, 0.39% Co & 2.66g/t PGE, 84.3 metres downhole.

All the 3 diamond drilling holes at the Ovis Prospect focused on electromagnetic conductors, which contain near-surface nickel-copper sulphide mineralisation.

The Company, which has already identified various nickel and copper anomalies throughout the Ovis Prospect, anticipates strong mineralisation over 50 metres thickness at the new prospect, indicating association of the massive nickel sulphide mineralisation with the volcanic origins. Moreover, an intercept in the hole YAD0008 (50 metres with 0.24% Ni & 0.18% Cu) is indicating strong potential and massive nature of the mineralisation.

Mineralisation along the strike at the prospect remains open, and the Company is expected to integrate results from geological, geochemical and electromagnetic studies in the near future.

To Read on Assay Results from Other Prospect at Yarawindah Brook Project, Click Here

Identifying Underexplored Prospective Zones using Historical Database

Cassini Resources plans to advance on exploration for Ni-Cu sulphide mineralisation within the Yarawindah project area, as the previous exploration programs have highlighted the necessity of efficient exploration. In the past, only 8% of the ~840 wells drilled in the project area were drilled beyond a depth of 50 metres and were assayed later.

Other shallow drill holes focused on near surface palladium and platinum oxide mineralisation with no assaying for nickel and copper. The Yarawindah project in the New Norcia Nickel province shares the region with Chalice Gold’s Julimar Ni-Cu-PGE discovery.

The Company is using the PGE data from the historical exploration programs to identify further potential Ni-Cu-PGE sulphide mineralisation. Application of historical data presents an enormous value for Cassini Resources, helping immensely in identifying further priority areas for exploration programs using advanced exploration techniques.

Robust Economics of Cassini Resources’ Flagship West Musgrave Ni-Cu Project: Read Here

Further Programs to Identify New Targets

In parallel to evaluating the “drill ready” targets, CZI has also commenced a focused and organised grass-root exploration campaign to identify further prospects except for Brassica, Avena and Ovis Prospects.

A soil geochemistry program has been completed, which collected over 1,041 samples being analysed in Perth. The reconnaissance mapping revealed that surface disturbance in cultivated paddocks is restricted to the top 20 centimetres of the soil, which could be overcome easily using an auger.

The Company expects that the entire project area would be compliant to modern geochemistry techniques and possess no constraint to the exploration. CZI anticipates completing the analysis of soil sample testing and interpretation by the end of May 2020.

In addition, a surface fixed loop electromagnetic (EM) survey is under progress, covering over 4.4 square kilometres across the central Yarawindah project area, which includes historical shallow exploration regions. The Company expects to complete the EM survey by the end of April 2020.

Cassini Resources is aggressively working towards developing its portfolio of promising projects. Both West Musgrave and Yarawindah Brook projects have undergone extensive exploration programs to generate value for the shareholders, the Company and the region.

CZI advanced further by 5.556% to close the day’s trade at $0.095 on 16 April 2020, with a market capitalisation of $38.5 million. The last one-month return of the stock was noted at 30.43%.

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