Cassini Resources: Massive Sulphide Intersection at Yappsu

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Cassini Resources: Massive Sulphide Intersection at Yappsu

HIGHLIGHTS

- 6.2m of Massive Sulphide mineralisation intersected in upper zone
- Thickest zone of massive sulphide intersected at Yappsu to date
- A lower zone consisting of >60m of disseminated and stringer mineralisation
- Nickel and copper mineralisation observed in core, assay results pending
- Mineralisation open in all directions

Cassini Resources Limited (ASX:CZI) (Cassini or the Company) is pleased to announce a significant intersection of massive sulphide mineralisation at the Yappsu Prospect within the West Musgrave Project (WMP or the Project) in Western Australia. The program is funded as part of the Earn-in/JV Agreement (JV or the Agreement) with OZ Minerals Limited (ASX:OZL) (OZ Minerals). The JV Partners are currently undertaking a Pre-feasibility Study (PFS) on the Nebo-Babel Deposits as well as a regional exploration program.

Yappsu Prospect

The Yappsu Prospect is located 6km east of Nebo. The prospect has been targeted by the JV partners as part of a regional exploration program designed to identify high-grade nickel mineralisation to compliment the development of the Nebo-Babel Deposits. Historical drilling has intersected up to 2.65m of high-grade nickel massive sulphides and broad zones, of up to 70m, 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 Downhole Electromagnetics (DHEM). A new surface Moving Loop Electromagnetic (MLEM) survey utilising the latest SQUID technology supported the targeting of the prospect for massive sulphides (ASX release 5 June 2018).

Diamond drillhole CZD0076B was designed to test two distinct off-hole DHEM conductors from historical drilling. The hole has intersected 6.2m of massive sulphide corresponding with the upper C conductor . Visual observations have identified pentlandite (nickel sulphide), chalcopyrite (copper sulphide) and pyrrhotite (barren iron sulphide) from 426.1m downhole (Figures 1 & 2).

A lower zone measuring over 60m wide, of disseminated and stringer sulphide mineralisation (varying from 5-20% total sulphide) and also containing nickel and copper mineralisation was intersected below the massive sulphide (Figure 2). This zone corresponds with the B conductor (Figure 4).

Exploration at the prospect is at an early stage and at present mineralisation appears open in all directions. The intersection is the thickest massive sulphide mineralisation drilled at the prospect to date.

The hole is continuing through the barren footwall to a proposed depth of 600m to provide a suitable platform for DHEM. The drill core is currently being logged and cut on site before samples are expedited through the assay laboratory (along with samples from CZD0077 at the H-T Lode as announced on
21 June 2018) in Perth.

On completion of the hole, the rig will then move to a second hole at Yappsu targeting a third A conductor, untested by previously drilling, which is at a slightly different orientation to the C and B conductors. The very strong correlation of the massive sulphide mineralisation with the position of the modelled EM conductors provides the company with a high degree of confidence in targeting the previously untested A conductor.
http://www.irw-press.at/prcom/images/messages/2018/43834/180627 Massive sulphides at YappsuPRcom.001.jpeg


Figure 1. Massive sulphide mineralisation (golden coloured core) from upper zone, CZD0076B.
http://www.irw-press.at/prcom/images/messages/2018/43834/180627 Massive sulphides at YappsuPRcom.002.jpeg


Figure 2. Massive sulphide mineralisation at 429.1m, CZD0076B.
http://www.irw-press.at/prcom/images/messages/2018/43834/180627 Massive sulphides at YappsuPRcom.003.jpeg


Figure 3. Disseminated style of mineralisation, CZD0076B.
http://www.irw-press.at/prcom/images/messages/2018/43834/180627 Massive sulphides at YappsuPRcom.004.jpeg


Figure 4. Yappsu section and plan showing approximate intersections in CZD0076B.

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 3 April 2014, 1 May 2017, 14 November 2017 continue to apply and have not materially changed.

Please follow this link to view entire original news:
https://www.asx.com.au/asxpdf/20180627/pdf/43w2m6lpxzvzc4.pdf

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Datum: 27.06.2018 - 13:49 Uhr
Sprache: Deutsch
News-ID 577491
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