- 0120m @2.11% Sn from 107m at Bygoo; outside Kelpie.
- 022m @1.38% Sn from 90m; extends Errols Zone.
- 03Kelpie: 3.94 Mt @0.50% Sn; 19,300 t contained; Sept update.
Caspin Resources (ASX: CPN) has returned its highest-grade intersection to date from the Bygoo tin project in New South Wales, with resource extension drilling delivering 20m at 2.11% tin from 107m.
The result sits well outside the current mineral resource envelope, extending the newly discovered Errol’s Zone at the Kelpie deposit.
Additional mineralisation included 2m at 1.38% tin from 90m, reinforcing the grade and thickness potential emerging along the Errol’s structure.
Caspin expects the new zone—which lies approximately 50m to 70m south of the Stewarts Zone—to make a significant contribution to an updated Kelpie resource scheduled for late in the September quarter.
Kelpie currently contains an inferred resource of 3.94 million tonnes at 0.50% tin for 19,300 tonnes of contained metal.
Errol’s Zone Extended
The latest reverse circulation (RC) drilling tested down-dip and down-plunge extensions of the Errol’s fault, where recent work has established a shallow high-grade mineralised zone.
Earlier drilling at Errol’s returned several high-grade intervals, including 8m at 1.39% tin from 56m and 5m at 1.15% tin from 79m.
Collectively, the results indicate that mineralisation is increasing in both grade and thickness toward the north-east along the fault structure.
Caspin considers the shallow depth of the latest high-grade mineralisation favourable for potential open-pit development and future mining economics.
The company expects the new drilling to expand the resource footprint while lifting confidence in the scale and value of the broader Kelpie mineralised system.
Discovery Opens Regional Potential
Unlike the historically worked Dumbrell’s and Stewarts zones, Errol’s has no obvious mineralised expression at surface.
Caspin discovered the zone through a combination of induced polarisation and gravity geophysical surveys supported by multi-element soil geochemistry, with the success of this approach highlighting the potential for further concealed discoveries across the broader Bygoo project area.
Similar structural and geophysical features have been identified to the north and south of Kelpie, including at the Moss prospect.
Caspin has completed seven additional holes across the Errol’s Zone, assays from which are expected progressively through to mid-August, with the results to feed into the updated Kelpie resource estimate planned for late September.
A diamond drilling program will test deeper extensions that remain potentially within economic open-pit depths but are beyond the effective reach of RC drilling.
Caspin is also preparing follow-up RC drilling at Moss, and expects to report results from the Ardlethan East prospect shortly.
‘Massive Impications’ for Kelpie
Managing director Greg Miles described the latest result as Caspin’s best intersection from the Bygoo project.
“With the tin price holding over US$50,000/t, at almost four times the copper price, this is truly a high-grade and high-value intersection,” Mr Miles said.
“Importantly, the intersection is outside the current resource envelope and therefore, has massive implications for resource growth at Kelpie.”
“With very little mineralisation at surface, the Errol’s Zone discovery highlights the opportunity for further discoveries in the region and the importance of systematic exploration utilising all the geophysical and geochemical tools at our disposal.”
“Our recent reconnaissance drilling at the Moss Prospect is an example of putting this into practice beyond Kelpie,” he added.
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