Caspin Resources has pinpointed a compelling new drill target, the Moss Prospect, just 1km from its Kelpie tin deposit in NSW, with geophysical and geochemical signatures mirroring those of the existing resource. Drilling is set to commence shortly, following ongoing resource expansion work at Kelpie.
- Moss Prospect shows geological and geophysical parallels to Kelpie Deposit
- Strong soil geochemistry and IP anomalies highlight tin mineralisation potential
- No previous effective drilling at Moss, located 1,000m north of Kelpie
- Kelpie hosts 3.94Mt at 0.50% Sn for 19,300t contained tin
- Reconnaissance drilling at Moss to start after current Kelpie program
Moss Prospect Emerges as a Top Exploration Priority
Caspin Resources Limited (ASX:CPN) has flagged the Moss Prospect as its highest-priority drill target outside the Kelpie Deposit at its Bygoo Tin Project in New South Wales. Situated just 1,000 metres north of Kelpie, Moss exhibits a geological setting and geophysical footprint strikingly similar to the existing high-grade tin resource.
Kelpie’s current resource stands at 3.94 million tonnes grading 0.50% tin, yielding 19,300 tonnes of contained tin. The Moss Prospect, previously known as ‘Area 1’, has long been recognised for its mineralisation potential through mapping and rock chip sampling but lacked effective modern drilling. Now, integrated geophysical and geochemical surveys have sharpened the picture, revealing a suite of anomalies that align with those at Kelpie.
Multiple Datasets Converge on Promising Target
Recent Induced Polarisation (IP) surveys highlight a strong chargeability and resistivity anomaly at Moss, indicative of hydrothermal mineralisation. This anomaly aligns with a major southwest-northeast trending fault zone, analogous to structural controls at Kelpie. Soil geochemistry samples returned tin concentrations up to 28.8 ppm, forming a coherent anomaly comparable in scale and intensity to Kelpie’s signature.
Gravity and magnetic data further confirm the presence of a buried granite contact and alteration halo beneath shallow cover, consistent with the Ardlethan Granite that hosts Kelpie’s mineralisation. Historical small-scale workings scattered across Moss, targeting greisen veining and boxwork textures within rhyolite porphyry, add to the prospect’s credentials.
Drilling Plans and Exploration Pipeline
Caspin’s Managing Director Greg Miles described Moss as “a compelling drill target ready for immediate testing,” with multiple independent datasets converging to suggest a geological setting closely mirroring Kelpie’s. The company plans a reconnaissance-style reverse circulation (RC) drilling program designed to intersect the granite-rhyolite contact at modest depth, with capacity for follow-up drilling if encouraging lithologies are encountered.
This drilling will commence in the coming weeks, following completion of the ongoing Kelpie resource extension program. The current Kelpie drilling campaign aims to grow the resource substantially, building on recent discoveries such as the Errol’s Zone, which returned impressive intersections like 8 metres at 1.39% tin.
Beyond Moss and Kelpie, Caspin is advancing several early-stage targets within the Bygoo Project, including Ardlethan East, where drilling results are awaited. The company is optimistic about the potential for Bygoo to evolve into a cluster of tin deposits, supported by a lack of systematic exploration over the past four decades.
Strategic Positioning in the Tin Market
Bygoo sits within the prolific Wagga Tin Belt, a major tin-producing region in Australia. Tin’s role as a technology metal; critical for solder in electronics and on strategic mineral lists in Australia and the US; adds strategic weight to Caspin’s exploration efforts. The Ardlethan granite’s known enrichment in tin and associated metals underpins the geological rationale for the Moss Prospect’s potential.
Bottom Line?
Caspin’s identification of the Moss Prospect as a high-priority drill target near Kelpie could significantly boost the Bygoo Project’s resource base if upcoming drilling confirms mineralisation.
Questions in the middle?
- Will drilling at Moss confirm a new tin resource comparable to Kelpie?
- How much can the current Kelpie drilling program expand the existing resource?
- What impact will new discoveries have on Caspin’s valuation and development timeline?