Bygoo Drilling Yields 11m at 2.3% Tin, Broad Zones Signal Large-Scale Potential
Caspin Resources has delivered exceptional high-grade tin results from its maiden drilling at the Bygoo North Prospect, confirming a large-scale mineralised system with significant growth potential. Concurrently, metallurgical test work advances at Mount Squires for rare earth extraction.
- Maiden RC drilling at Bygoo North returns high-grade tin intercepts up to 4.63% Sn
- Broad mineralised zones indicate potential for large-scale, bulk open-pit mining
- Tin mineralisation confirmed as cassiterite, supporting low-cost processing
- Follow-up drilling and diamond core metallurgical testing underway
- Mount Squires Project progresses heavy rare earth element metallurgical studies
Bygoo Tin Project: Maiden Drilling Success
Caspin Resources Limited (ASX: CPN) has reported outstanding results from its inaugural reverse circulation (RC) drilling campaign at the Bygoo North Prospect in New South Wales. The program, completed in the March quarter of 2025, confirmed continuous high-grade tin mineralisation with intercepts such as 11 metres at 2.30% tin, including a 5-metre section grading 4.63% tin. These results not only validate historical exploration but also reveal a mineralised system open along strike and at depth.
Significantly, the drilling intersected broad zones of tin mineralisation, including a 100-metre interval averaging 0.33% tin starting from 67 metres depth, highlighting the potential for a large-scale deposit amenable to bulk open-pit mining. The mineralisation extends over a north-south strike length exceeding 1,000 metres, with multiple east-west trending greisen zones suggesting stacked lodes that remain underexplored.
Cassiterite Confirmation and Processing Implications
Crucially, the tin mineralisation has been identified as cassiterite (SnO2), the economically preferred tin mineral. Cassiterite's high density allows for efficient gravity separation, a low-cost processing method widely used in tin concentrators globally. This confirmation bodes well for future metallurgical test work and the potential to produce a high-quality tin concentrate.
Ongoing Exploration and Metallurgical Testing
Building on these promising results, Caspin has mobilised a multipurpose RC and diamond drilling rig to continue exploration at Bygoo. Upcoming drilling will target untested greisen zones, strike extensions of broad mineralisation, and gaps near historical mining centers. The first diamond core hole aims to provide detailed geological insights and samples for advanced metallurgical testing, critical for assessing economic viability.
Mount Squires Project: Advancing Rare Earth Element Studies
Parallel to tin exploration, Caspin is progressing metallurgical test work at its Mount Squires Project in Western Australia, focusing on heavy rare earth elements (REEs) such as dysprosium and terbium at the Duchess Prospect. Automated mineralogy analysis has identified key REE-bearing minerals, monazite and xenotime, within hydrothermal veins. These findings support ongoing efforts with Australian Strategic Materials to evaluate recovery methods for these critical metals.
Financial Position and Outlook
During the quarter, Caspin invested approximately A$361,000 in exploration activities, primarily at Bygoo, with administrative costs of A$88,000. The company ended the period with A$1.09 million in cash and no debt, providing a runway of about 1.5 quarters at current expenditure levels. The board remains confident in raising additional capital to sustain and expand exploration efforts.
Looking ahead, the June quarter promises to be active, with ongoing drilling at Bygoo targeting new zones and reconnaissance work near the historic Ardlethan Tin Mine. The company’s strategic focus on both high-grade tin and rare earth elements positions it well within critical mineral markets, especially given tin’s elevated price relative to copper and its importance in technology applications.
Bottom Line?
Caspin’s maiden drilling success at Bygoo sets the stage for a potentially transformative tin discovery, with metallurgical and expansion drilling poised to unlock further value.
Questions in the middle?
- How will upcoming diamond core metallurgical results impact the economic assessment of Bygoo?
- What are the timelines and funding plans for advancing Bygoo towards resource definition?
- How might Caspin’s rare earth test work at Mount Squires influence its strategic partnerships and project development?
