Nickel and copper mineralisation has been observed in core from the diamond hole with assay results pending.
There is also a lower zone consisting of at least 60 metres of disseminated and stringer mineralisation containing nickel and copper.
The hole is continuing through the barren footwall to a proposed depth of 600 metres to provide a suitable platform for Downhole Electromagnetics (DHEM).
Drill core is being logged and cut on site before samples are expedited through the assay laboratory.
PFS on Nebo-Babel deposits
Yappsu is 6 kilometres east of the Nebo deposit, which together with the Babel deposit is the subject of a pre-feasibility study (PFS) by the JV partners.
It has been targeted as part of a regional exploration program designed to identify high-grade nickel mineralisation to complement development of the Nebo-Babel deposits.
Historical drilling has intersected up to 2.65 metres of high-grade nickel massive sulphides and broad zones, of up to 70 metres, of disseminated sulphide mineralisation.
The JV partners have made significant progress in understanding the geology of the prospect, including re-modelling the historical surface and DHEM.
A new surface Moving Loop Electromagnetic (MLEM) survey utilising the latest ‘SQUID’ technology supported the targeting of Yappsu for massive sulphides.
Exploration at the prospect is at an early stage and mineralisation appears open in all directions.
Second hole planned
On completion of the hole, the rig will move to a second hole at Yappsu targeting a third A conductor untested by previous drilling.
This is at a slightly different orientation to the C and B conductors.
The strong correlation of massive sulphide mineralisation with the position of the modelled EM conductors provides the JV with a high degree of confidence in targeting the previously untested A conductor.
Cassini acquired the flagship West Musgrave Project, which is Australia’s largest undeveloped nickel-copper project, in April 2014.
It is a world-class asset with a resource of over 1 million tonnes of contained nickel and 2 million tonnes of contained copper.
In August 2016, Cassini entered into a three-stage, $36 million farm-in/joint venture agreement with OZ Minerals.