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Cassini Resources' shares ride higher as mineralisation intersected at West Musgrave

Published: 14:31 21 Jun 2018 AEST

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Nickel and copper mineralisation observed in core, results pending

Cassini Resources Ltd's (ASX:CZI) shares have climbed 6% to 7 cents in afternoon trade, following early success from extension drilling at the Babel Deposit, part of the West Musgrave Project in Western Australia.

Mineralisation has been intersected in first resource extension hole, with nickel and copper mineralisation observed in core.

The drill core is currently being logged and cut on site before samples are expedited through the assay laboratory in Perth.

The drilling program is funded as part of the earn-in / joint venture with OZ Minerals Ltd (ASX:OZL), and the partners are currently undertaking a Pre-feasibility Study (PFS) on the Nebo-Babel Deposits with a concurrent regional exploration program.

West Musgrave is a world-class asset which currently hosts a resource with over 1 million tonnes of contained nickel and 2 million tonnes of contained copper.

Drilling details

The diamond hole is the first hole to test resource extension targets at Nebo and Babel, and intersected a 34 metre wide zone of gabbronorite, the host rock to mineralisation.

This included a 30 metre wide zone of disseminated to matrix sulphide mineralisation containing pentlandite (nickel sulphide), chalcopyrite (copper sulphide) and pyrrhotite (barren iron sulphide) from a 317 metre downhole.

Drilling was targeting a strong moving loop electromagnetic and coincident down hole electromagnetic conductor known as BW3.

The conductor had previously only been tested by a single hole which returned: 25.1 metres at 0.94% nickel & 0.94% copper from 312 metres.

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