Caspin Resources Limited (CPN) has reported significant high-grade tin intercepts from reverse circulation (RC) drilling at the Kelpie deposit, part of its 100% owned Bygoo Tin Project in New South Wales. The latest results highlight the potential of the newly discovered Errol’s Zone, with hole BRC061 returning 20m at 1.79% tin from 185m, including an interval of 3m grading 9.32% tin. Other notable results from this latest batch include 7m at 1.10% tin from 156m and 5m at 1.39% tin from 119m.

These findings are particularly significant because the mineralisation lies outside the current resource estimate, suggesting potential for expansion. The company is currently mapping multiple mineralised trends and believes the Errol’s and Stewart’s Zones may coalesce at depth. The drill results demonstrate that the Kelpie deposit remains open in multiple directions, prompting plans for further testing.

"Yet another stunning result for the 2026 Bygoo highlight reel. BRC061 included the highest individual metre grades ever drilled at the Kelpie Deposit, coming on the back of Caspin's best-ever drill intersection in BRC055. Given that tin is approximately four times the value of copper, these are fantastic results which demonstrate that the Kelpie Deposit, as currently defined, has significant growth potential. We are still in the middle of a great discovery story, a time when most value is created."

— Greg Miles, Managing Director

Managing Director Greg Miles noted that the high-grade nature of these recent intersections could eventually support underground mining operations, though immediate development remains focused on open-pit depths. For now, the technical team is preparing to shift from RC drilling to a diamond drilling program in August. This next phase is intended to test deeper extensions of the deposit that sit beyond the effective capability of current RC rigs, while simultaneously providing critical structural data to refine targeting models.

Looking ahead, the company is preparing for a formal update to its resource estimate. This revised model is scheduled for release during the September 2026 quarter and is expected to incorporate the new data gathered from the Errol’s Zone. By focusing on these open extensions, Caspin aims to confirm the broader growth profile of the Kelpie deposit before year-end. The geological team remains optimistic, as the mineralisation continues to show continuity down-plunge and down-dip, setting the stage for the next series of assays from holes currently pending analysis.

Read the full announcement: High-Grade Tin at Kelpie including 3m @ 9.32% Sn