Cassini Resources 100% owned Mount Squires Project hosts a number of prospective gold targets, which includes a range of conceptual to advanced prospects. The Company has been developing the Project since early 2015 through the consolidation of tenements forming a prospective gold frontier.
Cassini has compiled all previous exploration into a consolidated database and utilised public geological and geophysical datasets to assist with geological interpretation and targeting.
Recent geological interpretation has benefited from Cassini’s growing knowledge base at the adjacent West Musgrave Project through identification of structures controlling mineralisation in the Mount Squires Project. This has highlighted a structural corridor striking over 50km.
Previous RC drilling by Beadell Resources discovered gold at the Handpump Prospect, returning numerous shallow intercepts such as 15m @ 2.3g/t Au from 31m. Only 26 RC holes have been drilled at this prospect and mineralisation remains open in most directions. Whilst at an early stage of exploration, the thickness and tenor of gold mineralisation demonstrates the economic potential of the Project. Beadell’s exploration after the initial discovery was limited due to a change in corporate strategy and the project was later surrendered.
Handpump is associated with a subtle magnetic anomaly. This signature has been used to identify other magnetic features elsewhere along the structural corridor that may potentially host similar styles of mineralisation.
In addition to the Handpump Prospect, the Mount Squires Project contains a number of recognised gold and pathfinder element geochemical anomalies including the Centrifical Prospect, 3km south east of Handpump which is part of the interpreted structural trend (Figure 1). Much of the structural corridor is obscured by a veneer of sand cover which has potentially inhibited prospecting and soil geochemistry, particularly in the south-eastern corner of the project area. The Company has also recognised fault intersections and magnetic anomalies in under-explored areas of the project which present prospective exploration targets.
The Company is currently finalising work programs involving targeted reverse circulation (RC), reconnaissance RAB drilling and soil geochemistry programs at Mount Squires to be undertaken upon receipt of heritage and environmental approvals.
The Mount Squires Project complements the Company’s diversified portfolio alongside the flagship West Musgrave nickel and copper assets and the early-stage West Arunta Zinc Project.