The securities will remain in suspension from trading until Wednesday July 14, 2021 or when an announcement is published on the market.
Caspin Resources Ltd (ASX: CPN) was granted a trading halt by ASX prior to the announcement of a capital increase proposal.
The stop will remain in place until the start of regular trading on Wednesday, July 14, or until an announcement is posted to the marketplace, whichever occurs first.
Intersects large areas
Earlier this month, the company demonstrated strong platinum group element (PGE) potential on its Yarawindah Brook Nickel-Copper-PGE project in Western Australia following recent diamond drilling on the Yarabrook prospects. Hill and XC-29.
As expected from visual observations, drill holes YAD0017 and YAD0018 at Yarabrook Hill returned large areas of anomalous PGE mineralization with very encouraging narrow intersections of palladium, platinum, nickel and copper.
The results validated the company’s geologic model with the strongest mineralization at the interpreted base of the ultramafic section of the intrusion, providing a clear target for follow-up exploration.
“Proof of concept”
Caspin CEO Greg Miles said: âThe two holes at Yarabrook Hill demonstrate the prospect’s EGP bedrock sulphide potential and provided the proof of concept we needed before launching a large-scale drilling program. to target higher grade mineralization concentrations. “