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know when you’re going to come across a about what’s an eco-
prize, and we’ve certainly been pleasantly nomic intercept, and
surprised with Serradella.” without doing any
With the rainy season now abating, metallurgy yet, it’s dif-
Caspin is set to embark on an aggressive ficult for us to say. But
“resource-style” drill out of Serradella with I think the intercept
two rigs expected to be turning in the field we had in YARC36, at
until the end of Q1 2023. Miles said the that particular depth,
programme would look to close the drill is unequivocally an
spacing around some of the better inter- economic intercept.”
cepts as well as test a conceptual basal Despite the suc-
contact position to the north-east. cess at Serradella
Results to date suggest Serradella is and some of the
more of a PGM-nickel discovery than access challenges
the nickel-PGM mineralisation previous- created by the pan-
ly found at the Yarabrook Hill prospect, demic over the last An EM survey was flown over the Mt Squires project in late August
which had been Caspin’s main area of fo- two years, Caspin
cus since its IPO in late 2020. remains bullish on its Mt Squires project, think you should underestimate the value
Miles said the next round of drilling would about 15km north-east of the Nebo-Babel of the West Musgrave project for Nickel
also help to confirm what is economic. deposits now owned by Oz Minerals Ltd West,” he said. “I think it would dovetail
“Chalice have done a great job in edu- following its takeover of Cassini. nicely into Nickel West’s whole down-
cating the market about what these PGE An airborne EM survey was flown over a stream treatment of nickel and the ability
systems can provide in terms of what is ac- 200sq km area of interest at Mt Squires in to blend that concentrate with some their
tually economic, but I think the investment late August and Miles expected the com- existing concentrates.
community in Australia are still coming to pany would remain active on the ground “I still think the West Musgrave is an
terms with it,” he said. there until at least the end of this month, early-stage frontier that is grossly under-
“The benefit I have is my background with a second round of aircore drilling to be explored compared to other parts of WA,
at West Musgrave/Nebo-Babel [with Cas- completed at the Duchess prospect. mostly because it’s a difficult operating en-
sini]. Because of the polymetallic nature of Miles also welcomed the new wave of vironment, but we’ve proven that you can
these systems, you actually get so much attention placed on the West Musgrave operate out there.”
credit from the various payable elements. province, where he worked for the best – Michael Washbourne
The economics are really quite extraordi- part of a decade, on the back of BHP Ltd’s
nary, but unless you’ve worked on them, recent attempted takeover of Oz.
most people won’t understand that. “Obviously the target there was Oz’s
“We’ve dealt with some question marks South Australian copper assets, but I don’t

Metals Ltd

EXPLORING FOR GOLD

& BATTERY METALS

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(Au/Li) Nullagine
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Cheela (Sn/Ta/Li)

(Au)

Achilles
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(Ni/PGE/Au/Cu)

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ASX: TMB
aUSTRaLIa’S PaYDIRT OCTOBeR 2022 Page 107