Caspin Resources has delivered new high-grade tin results from the Kelpie Deposit, including a standout 3m intercept at 9.32% tin, extending mineralisation beyond the current resource and pointing to significant growth potential.
- 20m at 1.79% Sn including 3m at 9.32% Sn
- Results extend outside current 19,300t contained tin resource
- Mineralisation remains open down-plunge and down-dip
- Upcoming diamond drilling to test deeper extensions
- Resource update expected in September quarter
Exceptional High-Grade Tin Intercepts at Kelpie
Caspin Resources (ASX:CPN) has reported a series of impressive reverse circulation (RC) drill results from its Kelpie Deposit within the Bygoo Tin Project in New South Wales. The highlight is a 20-metre intersection grading 1.79% tin (Sn) from 185 metres, featuring an extraordinary 3-metre interval at 9.32% Sn starting at 193 metres. This intercept represents the highest individual metre grades ever recorded at Kelpie, surpassing the company’s previous best of 20m at 2.11% Sn announced earlier this month.
These new assays come from the Errol’s and Stewarts Zones, both recently discovered extensions outside the current resource boundary, which is estimated at 3.94 million tonnes at 0.50% Sn for 19,300 tonnes of contained tin. The mineralisation remains open along strike and down-plunge, suggesting substantial upside potential ahead of the planned resource update in the September quarter.
Resource Growth Potential and Mining Implications
Managing Director Greg Miles described the results as “stunning” and a continuation of Caspin’s “best-ever drill intersection” momentum. Given tin’s value at roughly four times that of copper, the high-grade nature of these intercepts could materially enhance the economic profile of the Kelpie Deposit.
Importantly, all recent results lie within depths amenable to open-pit mining. However, the grades and mineralisation thicknesses also hint at the potential for future underground operations, a longer-term consideration the company plans to explore. The Errol’s Zone, in particular, shows increasing width and tenor of mineralisation from 50 metres below surface, with no mineralised surface expression, highlighting the effectiveness of Caspin’s geophysical targeting methods.
Drilling Strategy and Next Steps
Caspin is preparing for a diamond drilling campaign in August aimed at testing deeper extensions of the Kelpie Deposit beyond the effective reach of RC drilling. This campaign will also provide critical structural data to refine the geological model and better understand controls on high-grade ore shoots down-plunge. Three additional RC holes await assay results, though one was abandoned before reaching target depth.
The company also plans to release updates on regional prospects, including the Moss and Ardlethan East Prospects, which lie along strike from Kelpie and exhibit promising geophysical signatures.
Technical Assurance and Exploration Context
The sampling and assay procedures adhere to industry best practices, with all samples analysed by ALS Laboratories Brisbane. Quality control measures include duplicates, certified reference materials, and third-party lab standards, ensuring reliable data quality. Drill collars were surveyed with handheld GPS units, and mineralisation widths are being refined as geological understanding improves.
The Bygoo Project sits within the prolific Wagga Tin Belt, a major tin-producing region in Australia, with Caspin holding 100% ownership of the exploration titles. The project benefits from proximity to historic mines such as Ardlethan, which produced tin averaging 6% Sn, suggesting potential for bonanza-grade zones with further exploration.
Bottom Line?
Caspin’s latest high-grade tin intersections at Kelpie reinforce the deposit’s growth trajectory, with upcoming diamond drilling and a resource update poised to clarify the scale and economic potential of this emerging tin asset.
Questions in the middle?
- Will the upcoming diamond drilling confirm deeper high-grade extensions to support underground mining?
- How materially will these high-grade intercepts influence the September resource update?
- What potential do regional prospects like Moss hold to complement Kelpie’s resource base?