PERTH (miningweekly.com) – Junior explorer Cassini Resources was hoping to start prefeasibility level studies at its West Musgrave nickel project, in Western Australia, by early next year.
Cassini MD Richard Bevan told delegates at the Paydirt Nickel conference that the company was currently undertaking a 25 000 m infill drilling programme at the Nebo-Babel nickel/copper sulphide deposit, which currently holds inferred resources of 446-million tonnes, grading 0.33% nickel and 0.35% copper for 1.47-million tonnes of contained nickel and 1.56-million tonnes of contained copper.
Cassini’s infill drilling was targeting higher grades; around 0.7% nickel and 0.6% copper at Nebo-Babel, with the company aiming to increase the resource confidence to an indicated stage over the next few months.
Bevan said that the company was aiming to have the drilling work completed by the first week of December.
Meanwhile, Bevan pointed out that the West Musgrave project also offered significant regional prospectivity, with some 20 km of mineralised trend hosting multiple prospects.
Some 13 km from the Nebo-Babel depsit was the Succoth prospect, where Cassini was also undertaking drilling in the hopes of declaring a maiden resource by the first quarter of next year.
Cassini in April this year raised A$10-million through a share subscription to fund its exploration work at West Musgrave, which it acquired from mining giant BHP Billiton for a cash payment of A$250 000, a 2% net smelter royalty on all the proceeds from future production and a A$10-million production milestone payment, due 12 months after first production.