Cassini Resources West Musgrave Exploration Update

Cassini Resources West Musgrave Exploration Update

HIGHLIGHTS Significant regional exploration drilling program has commenced Targeting new EM conductors generated from recent surface and down-hole geophysical surveys All conductors adjacent to, or extensions of known Ni and/or Cu sulphide mineralisation Initial drilling commenced at Yappsu, with One Tree Hill to follow One Tree Hill drill program targeting a 700m long conductor Work

HIGHLIGHTS

  • Significant regional exploration drilling program has commenced
  • Targeting new EM conductors generated from recent surface and down-hole geophysical surveys
  • All conductors adjacent to, or extensions of known Ni and/or Cu sulphide mineralisation
  • Initial drilling commenced at Yappsu, with One Tree Hill to follow
  • One Tree Hill drill program targeting a 700m long conductor
  • Work program funded by OZL Earn-in/JV

Cassini Resources Limited (ASX:CZI) (“Cassini” or the “Company”) is pleased to provide an update on the targets of the regional exploration program at 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”). Under the Agreement, $4m is allocated for regional exploration during the current stage, with a further $4m available during the next stage of the JV should OZ Minerals progress.

The Project is currently progressing rapidly through the Pre-Feasibility Stage, with in excess of 30+ people onsite, and with 4 active drill rigs. The drilling rigs are for collecting metallurgical samples, resource infill at Nebo-Babel, water bores and regional exploration.

The regional exploration strategy, managed by Cassini, is designed to identify additional high-value ore outside the Nebo-Babel deposits to complement the proposed mining operation. To achieve this, the Company has identified a number of priority targets with the potential for providing high-grade nickel and/or copper mineralisation. The immediate priorities for 2018 program will be to follow-up the One Tree Hill discovery made in 2017, the Yappsu Prospect, and further drilling at the Succoth Copper deposit.

Recent Geophysical Survey

Moving Loop Electromagnetic (MLEM) and Fixed Loop Electromagnetic (FLEM) surveys have been recently completed to assist with drill targeting at the One Tree Hill and Yappsu Prospects. The Company engaged GEM Geophysics, utilising a high-powered transmitter and Jessy Deeps HT SQUID sensor. The aim of each survey was to compare the surface response to surveys conducted in 2009, constrain earlier down hole EM models prior to drill testing and infill the existing MLEM coverage along strike from known mineralisation to resolve additional conductors in the surrounding areas.

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