Caspin Resources Limited provided further results from the West Musgrave Ni-Cu Extension at the Mount Squires Project in the West Musgrave region of Western Australia. The Company has recently completed extensive exploration programs of drilling, soil and rock chip sampling as well as airborne geophysics. The Company reported a significant discovery of surface copper mineralisation along an 8km copper geochemical anomaly on 15 November 2022. This prospect is now known as the Sienna Prospect. Assays from these samples have returned high-grade copper values up to 10.6% from a small malachite-rich outcrop within a broader area of mafic outcrop covering an area of approximately 2.5km2. Malachite is a copper carbonate mineral commonly formed through the weathering of copper sulphide. A total of four samples were collected from this outcrop, averaging 7.1% Cu. These samples also returned elevated levels of gold (up to 0.1g/t) and silver (up to 6.9g/t). A separate sample of mafic rock within the prospect
also returned 0.12g/t platinum and 0.11g/t palladium. Elevated platinum and palladium are a common mineralisation association with copper deposits in the West Musgrave region, for example the Succoth Deposit (owned by OZ Minerals Limited). The Sienna Prospect is at the eastern end of a large, 8km long copper-palladium anomaly. The Company has also found elevated copper (up to 1,015ppm) in mafic rock chip samples from over 7km along
strike from the Sienna Prospect and outside of the current extent of the soil geochemistry sampling. This is further evidence that the Company is in the early stages of defining a significant magmatic sulphide system prospective for copper, and potentially also nickel and PGE's.