(NewsDirect)
Caspin Resources Ltd(ASX:CPN) CEO Greg Miles tells Proactive the company has receivedsignificant rare earth element (REE) results from reverse circulation(RC) drilling at Duchess prospect within its Mount Squires Project inWestern Australia. The assays received so far point to the growingpotential for a large deposit of rare earth mineralisation at MountSquires, a region that has never seen systematic rare earthsexploration. These are the first results from the company’s4,500-metre RC program in June that tested several REE, gold, nickeland copper targets across the project, with results pending from amajority of the drilling.
Miles said: “The mineralisation remains open inmultiple directions with no previous drilling of the controllingstructures.
"Importantly, this mineralisation contains an exceptionallyhigh proportion of heavy rare earths, which are many times morevaluable than the light rare earths which dominate the profiles ofmany Australian rare earth projects.
"This offers Caspin a unique position amongstits peers. It is also encouraging to recognise rare earthmineralisation associated with monazite, a common rare earth oremineral with a well-understood processing route.”
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JonathanJackson
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