Yarawindah Brook Project (80% interest)
- Exciting new Ni-Cu-PGE frontier driven by the success of Chalice Gold Mines at neighbouring Julimar Project
- Second largest landholding in the region (>400km) and an early mover into the district
- Encouraging results to date, but less than 5% of the Project effectively explored
- Exploration programs already underway, generating new data and targets
The Yarawindah Brook Project is located 100km northeast of Perth, in the emerging Ni-Cu-PGE sulphide New Norcia province. The Yarawindah Brook Project comprises a significant ground position of over 400km2, approximately 40km north from Chalice Gold Mines’ recent high-grade Julimar Ni-Cu-PGE discovery.
The New Norcia region is deeply weathered, with little fresh rock outcrop and extensively covered by cultivated farmland, which has impeded previous exploration. Despite the presence of known Ni-Cu occurrences, discovered in the 1970s, most historical exploration has focused on surficial bauxite deposits. As a result, there is a paucity of deeper, bedrock drilling and the geology is poorly understood.
The Yarawindah Brook Project has had limited nickel, copper and cobalt exploration despite a favourable regional setting, prospective geology and near-surface occurrences of nickel and copper mineralisation. Historical exploration focussed primarily on a small, non-compliant platinum and palladium (PGE) resource which Caspin considers a “path-finder anomaly” for massive nickel-copper-cobalt sulphides.
An airborne electromagnetic survey (AEM) was completed over the project in early 2018, identifying numerous conductors worthy of further investigation. A surface fixed loop electromagnetic (FLEM) survey was completed over several of the higher priority AEM anomalies in order to confirm and better constrain the conductors prior to drilling.
A diamond drilling program was completed in early 2020, targeting multiple new EM conductors identified following the airborne and ground EM surveys of 2018. A total of 9 diamond holes were completed for 1,148m.
At the Avena Prospect, drill holes have predominantly intersected broad zones of shallow, disseminated Ni and Cu sulphides, which locally contain high-grade, massive nickel sulphides. Caspin is particularly encouraged by a massive sulphide intercept of 0.12m @ 5.97% Ni, 0.75% Cu, 0.39% Co & 2.66g/t PGE from 84.3m in YAD0005. The nickel tenor of this intercept is representative of the historical massive sulphide intersections at Yarawindah, which are Caspin’s primary targets. Although thin, this interval is interpreted to represent a structurally remobilised massive sulphide from a proximal source. Further encouragement was returned from YAD0006, which intersected 5.05m @ 0.69% Ni, 1.17% Cu & 0.06% Co from 57.95m. These intercepts range from 50m to 72m vertically below surface, well within open-pit mining depths.
Mineralisation remains open along strike and down-plunge to the north. Downhole electromagnetic survey (DHEM) has identified new “off-hole” conductors, which may be tested in future drilling programs.
At the Ovis Prospect, all three drill holes targeted electromagnetic conductors and intersected nickel-copper sulphide mineralisation at shallow depths. Best results include 2.25m @ 1.09% Ni, 0.99% Cu, 0.08% Co & 0.24g/t PGE from 84.8m in YAD0008 and 0.9m @ 1.44% Ni, 0.76% Cu, 0.11% Co & 0.19g/t PGE from 86.5m in YAD0009. Mineralisation is hosted in metagabbro and metapyroxenite intrusive sequences, consistent with the exploration model targeting mafic-hosted, orthomagmatic massive sulphides.
The mineralised portion of the host sequence is over 50m thick and anomalous in Ni-Cu throughout, which is important as massive Ni sulphide accumulations are generally associated with large volumes of sulphide-bearing magma. The host sequence in YAD0008 returned a broad, diluted intercept of 50m @ 0.24% Ni & 0.18% Cu (and terminated in anomalous metagabbro) demonstrating the potential scale and prospectivity of the mineralised intrusive.
The results to date support Caspin’s exploration model that the Yarawindah Brook Project has potential to host multiple Ni-Cu magmatic sulphide deposits. Historical exploration has demonstrated that there is a significant opportunity in the region to apply modern exploration concepts and techniques to identify near-surface, Ni-Cu-PGE sulphide mineralisation.
Exploration to date has shown the project hosts a large system of mafic intrusions prospective for Ni-Cu-PGE mineralisation, Yet only 5% of the project area is covered by both AEM and soil geochemistry which have proven to be cheap, but effective tools for first-pass evaluation of potential Ni-Cu prospectivity.
Caspin will be advancing exploration on multiple fronts, driven by a new interpretation of magnetic and gravity data and supported by the Company’s drilling results. Exploration will commence with extending the AEM and soil geochemical coverage, particularly on the eastern side of project, generating a new suite of targets for testing during the summer season.