Cassini Resources Ltd.: West Musgrave Field Program Underway

(firmenpresse) - West Musgrave Field Program Underway

HIGHLIGHTS-

- Significant field program commenced
- Four rigs on-site with another due early May
- Nebo-Babel metallurgical and resource infill / extensional drilling underway
- Advanced metallurgy program commenced
- EM surveys at One Tree Hill and Yappsu to assist exploration targeting

Cassini Resources Limited (Cassini or Cassini Resources) is pleased to provide an update on the West Musgrave nickel-copper project in Western Australia (Project or West Musgrave Project). Activities are part of the West Musgrave Pre-Feasibility Study where OZ Minerals is looking to proceeding to the next stage of its Farm-in and Joint Venture agreement (Earn-in Agreement or Earn-in) which enables OZ Minerals to earn 51 per cent of the Project with an investment of circa $19 million over a maximum of 18 months.

Pre-Feasibility Study Progress
The Pre-Feasibility Study (PFS) commenced in November 2017 and is expected to take a maximum of 18 months to complete. The exploration camp has been re-opened and expanded to accommodate the increased level of activity on site during the PFS. Two diamond rigs are currently working double shift to produce sample for the next phase of metallurgical optimisation, while advanced test work has already begun on samples remaining from the 2017 program. Test work will focus on potential nickel and copper recovery improvements identified during the Scoping Study.

Meanwhile, resource infill and extension drilling has recently commenced with two additional RC rigs now on-site. First results of RC drilling will likely be available from the beginning of June.

Surface moving loop (MLEM) and downhole electromagnetic (DHEM) surveys have also commenced at exploration targets One Tree Hill, Yappsu and Succoth with a 3rd diamond rig arriving in early May to assist with exploration drilling.

Gravity and passive seismic surveys have been completed to assist targeting of water exploration drilling later in 2018. De-risking of water supply for processing is a key outcome of the PFS.

Cassini staff recently attended a community meeting at West Musgrave together with OZ Minerals representatives, to provide local stakeholders with an overview of the activities taking place over the next 12 months as part of the PFS. The team will be working closely with the Government and Traditional Owners to understand the region and plan the next stages of the project.

http://www.irw-press.at/prcom/images/messages/2018/43165/180423 WMP activities update_PRCOM.001.jpeg


Figure 1. Drilling metallurgical diamond holes at Nebo
Other activities over the coming months include:
- Installation of a wind mast for the collection of data to determine the benefits of the addition of wind energy into renewable energy program
- Flora and fauna surveys as required for environmental approvals
- Heritage surveys focussing on the development footprint and infrastructure corridors
http://www.irw-press.at/prcom/images/messages/2018/43165/180423 WMP activities update_PRCOM.002.jpeg

Figure 2. Moving Loop EM survey in progress.

The Company looks forward to providing further updates as work on the PFS progresses.

For further information, please contact:
Richard Bevan
Managing Director
Cassini Resources Limited
Telephone: +61 8 6164 8900
E-mail: admin(at)cassiniresources.com.au

About the Company
Cassini Resources Limited (ASX: CZI) is a base and precious metals developer and explorer based in Perth. In April 2014, Cassini acquired its flagship West Musgrave Project (WMP), located in Western Australia. The Project is a world-class asset which currently has over 1.0 million tonnes of contained nickel and 2.0 million tonnes of contained copper in Resource. The Project is a new mining camp with three existing nickel and copper sulphide deposits and a number of other significant regional exploration targets already identified. The WMP is the largest undeveloped nickel - copper project in Australia.

In August 2016, Cassini entered into a three-stage $36M Farm-in/Joint Venture Agreement with prominent Australian mining company OZ Minerals Ltd (ASX: OZL). The Joint Venture provides a clear pathway to a decision to mine and potential cash flow for Cassini.
Cassini is also progressing its Mt Squires Gold Project, an early stage zinc exploration project in the West Arunta region and also has an option to acquire 80% of the Yarawindah Nickel - Copper - Cobalt Project, all located in Western Australia.

Competent Persons Statement
The information in this report that relates to Exploration Results is based on information compiled or reviewed by Mr Greg Miles, who is an employee of the company. Mr Miles is a Member of the Australian Institute of Geoscientists and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Miles consents to the inclusion in this report of the matters based on information in the form and context in which it appears.

The Company is not aware of any new information or data, other than that disclosed in this report, that materially affects the information included in this report and that all material assumptions and parameters underpinning Exploration Results, Mineral Resource Estimates and Production Targets as reported in the market announcements dated 23 June 2016 continue to apply and have not materially changed.

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Bereitgestellt von Benutzer: irw
Datum: 23.04.2018 - 11:48 Uhr
Sprache: Deutsch
News-ID 574726
Anzahl Zeichen: 6037

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