Caspin Ignites Drilling at Bygoo Tin Project with High-Grade Targets

Caspin Commences Drilling at Bygoo

Caspin Resources Limited (ASX: CPN) has officially kicked off its first drilling program at the recently acquired Bygoo Tin Project in New South Wales, marking a pivotal moment for the company’s exploration ambitions. With all necessary permits and approvals now in hand, the company plans to commence a maiden reverse circulation (RC) drilling campaign in the first week of February, targeting the advanced Bygoo North Prospect.

This initial program will comprise approximately 1,500 metres of drilling, with scope for extension depending on early results. The Bygoo North Prospect has already demonstrated significant promise, highlighted by previous drilling intercepts such as 35 metres at 2.10% tin from 43 metres depth and 35 metres at 1.71% tin from 94 metres. These high-grade results underpin Caspin’s confidence in the prospect’s potential to host economically viable tin mineralisation.

Strategic Focus on High-Grade Continuity

Managing Director Greg Miles emphasised the strategic importance of this drilling campaign, describing it as the start of an exciting new chapter for Caspin. The program’s primary objective is to test the continuity and extensions of multiple mineralised lodes within the Bygoo North area, including the Main Lode, Stewart Lode, and a potential new lode north of the P380 lode. Previous drilling has revealed steeply dipping, high-grade tin mineralisation that was not effectively tested by older, shallower drilling methods.

Notably, the Stewart Lode remains open to the north and has only been drilled on a single section, with encouraging intercepts such as 25 metres at 0.91% tin and higher-grade intervals within. The program will also investigate a geochemical anomaly beneath historical workings, which have never been drill tested but suggest a strike length of at least 400 metres.

Broader Exploration Potential and Market Context

Beyond the immediate drilling targets, Caspin’s thorough data review has identified multiple discovery opportunities across the broader Bygoo Project area. The company is already planning regional drill programs to complement the Bygoo North campaign, aiming to delineate a large-scale tin-producing region in a historically prolific tin belt. This region surrounds the historic Ardlethan Tin Mine, one of mainland Australia’s largest tin producers, adding geological credibility to Caspin’s exploration efforts.

Mr Miles also highlighted the favourable market backdrop, noting that tin prices remain robust despite broader commodity price uncertainties. This market strength enhances the potential value of any discoveries and supports Caspin’s ongoing investment in exploration.

Looking Ahead

The coming weeks will be critical as Caspin advances its drilling program and begins to release assay results. Investors and analysts will be watching closely to see if the high-grade mineralisation extends as hoped, which could significantly enhance the project’s valuation and Caspin’s standing in the tin sector. The company’s broader portfolio, including projects targeting critical battery and rare earth minerals, positions it well to capitalize on evolving commodity demand trends.