viewCassini Resources Ltd

Cassini Resources about to kick off 2019 exploration at WA prospects

West Musgrave joint venture will be the primary focus but other opportunities will also be investigated.

Core from West Musgrave
Drilling continues to extend mineralisation at the West Musgrave JV

Cassini Resources Limited (ASX:CZI) is about to start 2019 exploration at its suite of Western Australian prospects with field crews now mobilised to the primary focus area of West Musgrave.

While West Musgrave will continue to be a key focus and value driver for the company in 2019, there are a number of other opportunities to provide exposure to exploration success.

New fronts with potential

This includes several new fronts with potential for discovery and these have been identified after examination of the company’s 2018 programs.

Cassini will also continue to acquire or generate new projects and add value through innovative targeting and exploration programs.

READ: Cassini Resources and OZ Minerals confirm nickel-copper potential of Succoth deposit

At West Musgrave, a joint venture in which OZ Minerals Limited (ASX:OZL) has 51% and is earning up to 70%, the partners are undertaking a prefeasibility study (PFS) on the Nebo-Babel deposits.

A local and regional exploration program is running concurrently with both activities funded by the JV earn-in agreement.

Field crews have mobilised to site to recommence infill drilling at Nebo-Babel and further drill testing of regional exploration targets.

READ: Cassini Resources applauds mineralisation extension at West Musgrave JV

The immediate priority for exploration drilling will be at One Tree Hill prospect where a recently defined large EM conductor will be tested.

Drilling is scheduled to begin at One Tree Hill in mid-March and then subject to results, will move to test extensions to mineralisation at Nebo (Sugar Lode) as well as further infill drilling at Succoth.

The PFS remains on track to be completed by the end of the June quarter of 2019.

Reprioritised portfolio

Cassini is also reprioritising its remaining project portfolio following the 2018 work.

At Yarawindah Brook Nickel-Copper-Cobalt Project in which Cassini has an option to earn 80%, survey work has identified a number of conductors.

The company is seeking an access agreement with the local landholders and environmental approvals in preparation for drill testing.

After receiving encouraging exploration results, Cassini has added additional tenements along strike, taking the total land position to 146 square kilometres.

Mount Squires pushed up priority list

The Mount Squires project is adjacent to West Musgrave but does not form part of the OZ Minerals’ joint venture.

Cassini has been developing the project over the past two years through consolidation of tenements with a number of prospective gold targets defined through historical drilling and geochemical data compilation.

In light of the historically high Australian Dollar gold price and greater availability of resources, attention has turned to accelerating exploration at Mount Squires during the 2019 field season.

The company has recently acquired a number of new remote sensed datasets to help map the surface geology of the project and provide better context for soil geochemical anomalies.

During the field season it intends to prioritise gold targets at Mount Squires.

Following the review of results from 2018 work, the company has downgraded the West Arunta Zinc Project against priorities at its other projects.

Quick facts: Cassini Resources Ltd

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Market: ASX
Market Cap: $94.66 m

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