Assays from the 10 reverse circulation (RC) holes drilled at the Handpump Prospect featured 20 metres at 1.27 g/t gold from 23 metres and 27 metres at 1.00 g/t gold from 31 metres.
The latest holes to be received MSC0007-0010 returned lower grade results but importantly still suggest the mineralisation remains open.
Maiden drill program demonstrates unique, early-stage gold opportunity
Cassini’s managing director Richard Bevan said: “We’re delighted with the results from our maiden drill program at Mount Squires.
“The program, in tandem with our new aeromagnetic data, has demonstrated economic gold prospectivity, improved our geological understanding and generated new targets for future work programs.
More broadly, it’s highlighted the potential strategic value of a new greenfield, belt-scale project in a new gold frontier.
Discovering a new frontier
“Mt Squires is the most advanced gold project in the Musgrave Province, with the nearest gold mine, Gruyere, being over 400km away, itself a fairly recent “new frontier” discovery.
“New frontiers are where some of the most recent and significant gold discoveries have been made in Australia.
Nearby to the advanced West Musgrave Project
“We see Mount Squires as a natural fit with activities at our West Musgrave Project.
“Strategically, we believe gold is a good complement to our base metal assets. Our extensive geological knowledge, operational capability and established community relationships provide us with a significant competitive advantage in the region.
“Whilst the West Musgrave Project continues to be our primary focus and long-term value-driver, our exploration strategy at Mount Squires and Yarawindah Brook is geared to provide opportunities for additional new discoveries in the near term.
Gold price near all-time highs
“Our goal is to add value and be exposed to these opportunities through relatively inexpensive exploration programs, that do not compromise our funding capacity during the ongoing study phase of the West Musgrave Project.”
“With prices near all-time highs, it’s also a great time to exploring for gold.”