Caspin Resources discovers new PGE-nickel-copper targets at Yarawindah Brook

Caspin Resources Ltd (ASX:CPN) has made several major advances at its Yarawindah Brook PGE-Nickel-Copper Project in Western Australia, identifying new targets at the Yarabrook Hill prospect in particular. The company conducted a gravity gradiometer survey, which helps build a picture of subsurface anomalies, and discovered the Yarabrook Hill intrusion has much greater extent than previously mapped and drilled. A 5,000-metre reverse circulation drilling program is ongoing, with around 1,800 metres completed thus far. Yarabrook Hill shows more promise The gravity gradiometer survey outlined the extent of the Yarabrook Hill intrusion, which covers a surface extent of at least 8 square kilometres, a fourfold increase on the current area of mapping and exploration. “This supports our belief that the intrusion is largely unexplored and that exploration to date has been focused only on easily accessible surface exposure,” the company said. “Yarabrook Hill is now demonstrated to be a large intrusive mafic/ultramafic system, which bodes well for the discovery of economic deposits of PGE-Ni-Cu sulphides.” The anomalous PGE-nickel-copper surface geochemistry footprint at Yarabrook Hill has now been extended over at least 3 kilometres of strike and is much larger than that currently defined by drilling. The gravity data found that strong new soil anomalies in the northwest and eastern parts of Yarabrook Hill are likely located on the intrusion contact, with these soil anomalies considered extremely significant and warrant follow-up drill testing. New targets at Yarabrook Hill Infill soil geochemistry results have been received from the northern area of Yarabrook Hill and have defined a strong PGE anomaly on the north-western contact of the Yarabrook Hill intrusion. This anomaly has a peak value of 192ppb platinum group elements (PGE), when background PGE in soil is commonly 1ppb, which is of a similar magnitude to peak results across the main Yarabrook Hill anomaly. A large, airborne electromagnetic anomaly has also been discovered; it is a modest-strength, late-time anomaly with approximate dimensions of 700 x 500 metres. It has only been lightly explored by drilling in the 1970s which showed anomalous copper and nickel anomalism in the weathering zone, likely to be supergene enrichment, with limited drilling into bedrock. Caspin says there are similarities between the anomaly, named XC-22, and the Gonneville intrusion at Chalice Mining Ltd (ASX:CHN, OTCQB:CGMLF)’s Julimar project. The new gravity data shows that XC-22 is coincident with a gravity low and magnetic high, with this combination of anomalies most likely to represent serpentinised ultramafic rocks which are commonly associated with PGE mineralisation, such as Gonneville. Importantly, the size of the gravity low anomaly suggests this area may be the most significant area of ultramafic within the Yarabrook Hill intrusion. Finally, another strong target has also emerged on the eastern margin of the Yarabrook Hill intrusion which is referred to as the Eastern Anomaly. It is a strong, coherent PGE geochemical anomaly that lies in a parallel position 500 metres to the east of the historical Yarabrook Hill anomaly, striking over 1.2 kilometres. Drilling programs Caspin says results from recent diamond drilling work has revealed that PGE mineralisation at Yarabrook Hill occurs in two main styles - one hosted by shear zones developed at and near the upper contact of the intrusion and is interpreted to represent structural/hydrothermal remobilisation from some primary magmatic sulphide source, and the second as primary, stratabound zones of disseminated magmatic sulphides. “Finding a large body of primary sulphide remains our priority target,” the company said. “Intersecting wide intervals of primary mineralisation is considered a very positive step forward towards doing this and we expect that zones of primary mineralisation will have significant lateral extent and have the potential to significantly increase in both grade and width in parts of the intrusion with an originally flatter dip. “The current structural interpretation is that the zones of primary mineralisation are not exposed at the surface, which highlights the potential for significant blind PGE mineralisation.” Caspin’s current RC drill program is designed to gain a better understanding of the internal architecture of the intrusion, along strike as well as up and down-dip. Its aim is to better understand the stratigraphic setting of mineralisation and the effect of later structures, with the objective of vectoring towards potentially stronger zones of PGE-Ni-Cu mineralisation. The first drill results are expected in late September, and Caspin is now looking to produce the first 3D model for the Yarabrook Hill intrusion. A short diamond drill program is also in line to test the full sequence of Yarabrook Hill. - Daniel Paproth