Caspin Resources has delivered its best-ever tin intersection at the Kelpie Deposit within the Bygoo Tin Project, reporting 20m at 2.11% tin outside the current resource envelope, signaling strong potential for resource expansion.
- 20m at 2.11% tin intersection at Kelpie Deposit
- Errol’s Zone mineralisation extends beyond current resource
- Resource update scheduled for September quarter
- Shallow high-grade mineralisation improves mining economics
- Further assays pending from ongoing drilling programs
Record Tin Grade at Kelpie Deposit
Caspin Resources (ASX:CPN) has struck its highest-grade tin intersection to date at the Kelpie Deposit of the Bygoo Tin Project in New South Wales, hitting 20 metres at 2.11% tin from 107 metres depth. This standout result, from drill hole BRC055, surpasses all previous intersections reported by the company and lies well outside the current resource boundary, underscoring significant upside potential.
The Kelpie Deposit currently holds an inferred resource of 3.94 million tonnes at 0.50% tin, equating to 19,300 tonnes of contained tin. The new high-grade intercept sits less than 100 metres vertically below surface, comfortably within open-pit mining depths, which could materially enhance project economics amid robust tin prices hovering above US$50,000 per tonne.
Expanding the Errol’s Zone Beyond Resource Limits
The latest drilling extends the Errol’s Zone, a newly discovered mineralised fault structure at Kelpie. BRC055 returned not only the 20m @ 2.11% Sn but also a separate 2m intersection at 1.38% tin from 90 metres, continuing a trend of increasing grade and thickness northeastwards along the Errol’s Fault.
Earlier holes, such as BRC053 and BRC051, have reported multiple high-grade intervals including 8m at 1.39% tin and 5m at 1.15% tin. These results collectively demonstrate that mineralisation remains open down-dip and down-plunge, with further assays pending from seven additional holes recently completed. This ongoing drilling campaign aims to better define the geometry and extent of the mineralised zones.
Resource Growth and Exploration Potential
All current Errol’s Zone results lie approximately 50 to 70 metres outside the existing Kelpie resource envelope, suggesting a material contribution to the upcoming resource update due late in the September quarter. The absence of surface mineralisation at Errol’s contrasts with other zones like Dumbrell’s and Stewarts, highlighting the discovery’s reliance on geophysical and geochemical targeting tools such as induced polarisation and gravity surveys.
Caspin is also advancing exploration at the nearby Moss Prospect, where reconnaissance drilling has commenced following promising geophysical and geochemical signatures. This aligns with the company’s strategy to systematically test similar structural targets along the granite-rhyolite contact zone, which controls high-grade tin mineralisation at Kelpie.
Next Steps in Drilling and Resource Definition
The company expects assay results from the recent seven-hole program at Errol’s Zone to arrive progressively through mid-August, feeding into the resource estimate update. Complementary diamond drilling is planned to test deeper extensions of the Kelpie deposit beyond the reach of reverse circulation drilling, with a focus on structural controls and down-plunge ore shoot geometry.
Meanwhile, follow-up drilling at Moss Prospect is being prepared for early August, alongside ongoing work at the Ardlethan East Prospect, where soil geochemistry expansion and drilling results are imminent. These programs collectively aim to build on Caspin’s growing footprint of high-grade tin mineralisation in the Wagga tin belt.
Bottom Line?
The breakthrough high-grade tin intersection at Kelpie’s Errol’s Zone sets the stage for a meaningful resource upgrade and improved project economics, but pending assays and deeper drilling will be critical to confirm the full scale of this discovery.
Questions in the middle?
- Will the upcoming resource update reflect a significant increase in contained tin at Kelpie?
- How will diamond drilling refine the understanding of structural controls on high-grade mineralisation?
- Can exploration at Moss and Ardlethan East deliver additional high-grade discoveries to complement Kelpie?