Bygoo’s Kelpie Deposit Hosts 19,300 Tonnes of Tin with 12-20Mt Exploration Target
Caspin Resources has released its maiden inferred tin resource estimate for the Kelpie Deposit at the Bygoo Tin Project, revealing a high-grade deposit with significant upside potential. The company also outlined a large exploration target that could more than double the current resource.
- Maiden inferred resource – 3.94 million tonnes at 0.5% tin (19,300 tonnes contained)
- Exploration target of 12-20 million tonnes at 0.35-0.50% tin indicating substantial growth potential
- Resource constrained by drilling; deposit remains open along strike and at depth
- Extensive historical workings and rock chip samples support a large mineralised system
- Next steps include drilling, metallurgical testing, and detailed surface mapping
A Significant Milestone for Bygoo
Caspin Resources Limited (ASX – CPN) has taken a major step forward in its development of the Bygoo Tin Project in New South Wales with the release of a maiden inferred mineral resource estimate for the Kelpie Deposit. The estimate, prepared in accordance with the JORC Code 2012, outlines 3.94 million tonnes of ore grading 0.5% tin, equating to 19,300 tonnes of contained tin within an open pit constraint. This marks the emergence of a high-grade tin deposit in a region historically known for prolific tin production.
Exploration Target Highlights Upside Potential
Beyond the maiden resource, Caspin has defined a substantial exploration target ranging from 12 to 20 million tonnes at grades between 0.35% and 0.50% tin. While this target remains conceptual and requires further drilling to confirm, it suggests the potential to more than double the current resource. The deposit remains open along strike for over 1,000 metres and at depth, indicating considerable room for expansion.
A Large Mineralised System with Historical Footprint
The Kelpie Deposit is situated within a much larger mineralised system, supported by hundreds of historical workings extending over 2 kilometres from the deposit. Rock chip samples from these areas have returned tin grades up to 0.82%, alongside other pathfinder elements such as bismuth, tungsten, and silver. This evidence points to a broad and fertile tin province with multiple opportunities for new discoveries.
Robust Geological and Technical Foundation
The resource estimate was developed using a comprehensive database of 275 drill holes totaling over 22,000 metres, combining historical and recent drilling. Cube Consulting Pty Ltd employed Ordinary Kriging geostatistical methods to model the deposit within an optimised pit shell, demonstrating reasonable prospects for economic extraction. Mining assumptions are based on conventional open pit methods, with metallurgical parameters inferred from similar nearby deposits, notably the historic Ardlethan Mine.
Looking Ahead – Drilling and Metallurgical Testing
Caspin plans to commence a new drilling campaign in the December quarter, targeting extensions within the resource area and along strike within the exploration target. Concurrently, preliminary metallurgical test work is underway to confirm the potential for producing marketable tin concentrates using both traditional gravity separation and modern ore sorting technologies. Detailed surface mapping will also continue to prioritise additional exploration targets across the broader 20-kilometre prospective granite horizon.
Bottom Line?
With a solid maiden resource and a large exploration target, Caspin’s Bygoo Project is poised for growth, but upcoming drilling and metallurgical results will be critical to unlocking its full potential.
Questions in the middle?
- How will upcoming metallurgical test results impact the economic viability of the Kelpie Deposit?
- What is the timeline and likelihood for environmental approvals to support mining development?
- Could further drilling confirm multiple deposits within the extensive 20km granite contact zone?
