Cassini Resources Announces Drilling To Commence At West Arunta Zinc Project

  • Sep 28, 2018 AEST
  • Team Kalkine
Cassini Resources Announces Drilling To Commence At West Arunta Zinc Project

Drilling Commences at West Arunta Zinc Project: Cassini Resources Ltd (ASX: CZI), which focuses on the development of nickel and copper sulphide deposits and has a flagship West Musgrave Project (WMP), lately announced about starting with the RC drilling at West Arunta Zinc Project. This project is near the community of Kiwirrkurra in northern Western Australia; and as per the company’s update, the drilling will focus a maximum of 2,000 million of RC. The drilling will take about 2 weeks in terms of completion. The idea is to have a key zinc province among leading mineral frontiers across Australia.  

Moreover, first ever drill holes may test new sedimentary zinc targets at group’s Janus and Mimas Prospects, while Pre-Feasibility Study is on track at West Arunta Zinc Project. New discoveries at Nebo, Babel and Yappsu have also delivered positive outcomes. Moreover, CZI now completed an Airborne Electromagnetic (AEM) survey, for developing a new geological interpretation to assist the drill programme. The survey was planned to complement gravity, soil geochemistry and magnetics datasets. The group also reported that magnetic response in the basin coincident with the AEM anomaly has been quite enriching at Mimas Prospect. This represents iron sulphide mineralisation and magnetite alteration with gossan formation over a sulphide orebody; and there is a favourable position in the axis of the Dione Horizon as well. At Janus, residual gravity at its peak potentially represents a dense sulphide body while structurally favourable position associated with sedimentary mineralization has been noted. Therefore, CZI stock has risen 2.28% in one month as on September 27, 2018.

The group has even released its annual report and the updates did not attract investors as the stock traded flat at $ 0.074.

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