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CPN - Caspin Resources

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Caspin Resources is a mineral exploration company established pursuant to the Demerger Scheme undertaken by Cassini Resources Limited (Cassini), for the purpose of exploring the Yarawindah Brook Project and Mount Squires Project, in which it holds an 80% and 100% interest respectively.

Yarawindah Brook Project (80% Company interest):
The Yarawindah Brook Project is located 130km northeast of Perth, in the emerging Ni-Cu-PGE sulphide New Norcia province. The Yarawindah Brook Project comprises a significant ground position of over 400km2, approximately 40km north from Chalice Gold Mines’ recent high-grade Julimar Ni-Cu-PGE (nickel, copper and platinum group elements) discovery.

Mount Squires Project (100% Company interest):
The Mount Squires Project hosts a number of prospective gold targets, which include a range of conceptual to advanced prospects. Prior to ownership of the Mount Squires Project being transferred to the Company, Cassini had been developing the project since early 2015 through the consolidation of tenements forming a prospective gold frontier. The Mount Squires Project is located adjacent to the western border of the West Musgrave Project which hosts the large Nebo-Babel nickel and copper sulphide deposits, approximately 1,700km northeast of Perth, Western Australia.

Contingent Payment from OZ Minerals:
The Company also holds a right to a contingent payment from OZ Minerals of up to A$20 million cash in the event of a sale of all or a portion of OZ Mineral’s interest in the West Musgrave Project or of the contained nickel at that project. However, no forecast is made of whether any of the Contingent Payment will become payable to the Company.

It is anticipated that CPN will list on the ASX during November 2020.

 
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