Caspin Resources Ltd (ASX:CPN) CEO Greg Miles tells Proactive the company has extended the rare earth element (REE) footprint at the Duchess Prospect within its 100%-owned Mount Squires Project in Western Australia to more than 300 metres along strike and at the highest grade intersected so far. The latest results from the 4,500-metre reverse circulation (RC) program conducted in June included 2 metres at 2.03% total rare earth oxide (TREO) comprising 2,712 parts per million (ppm) neodymium oxide, 728 ppm praseodymium oxide, 432 ppm dysprosium oxide and 72 ppm terbium oxide within 17 metres at 0.41% TREO. This heavy REE mineralisation has been consistent and features highly in the results, averaging in excess of 30% of TREO, and remains open along at least two untested controlling structures for more than 1,000 metres.
We believe the scale, grade potential and unique composition of the rare earth mineralisation at Mount Squires would be attractive to a larger partner whilst Caspin remains focused on the base metals potential of the project along strike from BHPs Nebo-Babel development.
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Caspin Resources Ltd