Cassini Resources investigates large scale nickel sulphide target at West Musgrave Tuesday, April 16, 2013 by Angela Kean
Cassini Resources (ASX: CZI) is closer to starting a ground electromagnetic survey over the previously discovered large-scale nickel-copper sulphide target at its West Musgrave Project in Western Australia.
The company has received the necessary approvals from traditional owners, the Nygaanyatjarra Land Council, and has engaged a contractor to complete a ground electromagnetic survey.
A moving loop transient electromagnetics (MLTEM) survey is scheduled to begin in the first week of May and is expected to take about six days to complete.
The target at West Musgrave is defined by a strong electromagnetic anomaly occurring over a strike length of about 600 metres.
The survey will provide detailed information to enable Cassini to design a more efficient and cost-effective drill program to test the target.
Cassini believes the West Musgrave Project has the potential to host another large nickel-copper sulphide deposit such as BHP Billiton’s (ASX: BHP) nearby 1.66 million tonne copper equivalent Nebo-Babel deposit.
Cassini is considering extending the MLTEM survey to test magnetic anomalies with similar characteristics to the current priority target at some point in the future.
Some of these magnetic anomalies are located in areas where the thickness of conductive cover has compromised the effectiveness of VTEM, but may still enable detection of a strong conductor using a MLTEM survey.
Additional exploration licence
Cassini has also lodged an application with the Department of Mines and Petroleum for an additional exploration licence in the West Musgrave area.
The licence consists of three sub-blocks and is in the vicinity of BHP’s Nebo-Babel deposits and recent Succoth discovery.
BHP reportedly intersected broad intersections of copper mineralisation at relatively high grades in drilling at its Succoth Prospect in the West Musgrave area, a discovery that could unlock the potential of the remote Western Australian outback region.
The discovery is believed to lie to the north-northeast of BHP’s massive, but low grade, Babel-Nebo nickel-copper discovery.
Cassini is fully funded through to potential discovery at its West Musgrave Project with around A$1.1 million in cash at the end of the December 2012 quarter.
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CZI Price at posting:
12.0¢ Sentiment: None Disclosure: Held
