Caspin Resources Limited (CPN) has reported a significant high-grade tin intersection at its Bygoo tin project in New South Wales. The latest results from the Kelpie deposit confirm a substantial expansion of the newly discovered Errol’s Zone, with drilling returning 20m at 2.11% Sn from 107m. This result represents a material improvement in both grade and thickness compared to previous initial discovery holes in the zone, which recorded 8m at 1.39% Sn.

The intersection is located roughly 50 to 70 metres outside the current resource envelope. Because the top of the mineralisation occurs at approximately 95 metres below surface, the company believes it is well-positioned for potential open-pit mining scenarios.

"This stunning result is easily Caspin's best intersection at the Bygoo Project to date. With the tin price holding over US$50,000/t, at almost four times the copper price, this is truly a high-grade and high-value intersection, occurring less than 100m vertically below surface and well within open pit depths. Importantly, the intersection is outside the current resource envelope and therefore, has massive implications for resource growth at Kelpie."

— Greg Miles, Managing Director

Exploration remains active at the site, with the company currently awaiting assay results for seven additional drill holes completed within the Errol’s Zone. These results are expected to be released gradually through mid-August. Management expects that the data collected from this ongoing work will contribute to a formal update of the resource estimate for the Kelpie deposit, which is currently scheduled for release late in the September quarter.

To further support the development of the project, Caspin has also outlined plans for a diamond drilling program. This secondary phase of activity is designed to test deeper extensions of the deposit beyond the effective range of current reverse circulation drilling, while also providing structural data on the geometry of high-grade ore shoots.

Read the full announcement: High-Grade Tin Intersection at Kelpie