Cassini Resources Limited (ASX: CZI) ('Cassini' or the 'Company') is pleased to announce results from recent drilling at the One Tree Hill Prospect and Succoth Deposit within the West Musgrave Project ('WMP' or the 'Project') in Western Australia.

The exploration program is funded as part of the JV Agreement ('JV' or 'the Agreement') with OZ Minerals Limited (ASX: OZL) ('OZ Minerals'). The JV partners are currently undertaking a Pre-feasibility Study (PFS) on the Nebo-Babel deposits in conjunction with a regional exploration program across the WMP.

One Tree Hill Prospect

Since the last update in June, activities at One Tree Hill comprised a high-resolution aeromagnetic survey and two reverse circulation drill holes testing extensions to mineralisation east of CZD0099, together with geological and geophysical modelling.

The aeromagnetic survey was flown at 30m height and 40m line spacing, providing very high quality data. The new magnetic data has been critical in the latest structural and geological interpretation of the prospect, particularly given that the Giles Mineralised Intrusions and Giles Metagabbros appear to be clearly defined in the magnetic images. Furthermore, the latest geological and structural interpretation on long-section correlates very closely with the interpretation of the magnetic data. This interpretation suggests that the mineralised intrusions at One Tree Hill are terminated against the Titan Fault to the southwest and are offset by the ENE trending Osborne Fault. Importantly, this indicates potential extensions of the Giles Mineralised Intrusions to the north of the existing drilling and to the south of the Osborne Fault, both of which remain untested.

Two RC drill holes have been completed for a total of 1,002m, stepping 200m east along strike from CZD0099 which returned several mineralised intercepts including 9m @ 2.56% Cu, 0.37% Ni, 0.06% Co & 1.32g/t PGE from 344m within a broader disseminated zone of 40m @ 1.16% Cu from 343m.

The latest geological and geochemical interpretation suggests the mineralised intrusions and country rock are folded along an east-west trending fold plane. The interpreted position of the fold hinge is approximately 100m to the west of CZD0099 and associated with a magnetic anomaly that is plausibly due to a higher abundance of magnetite and pyrrhotite within the mineralised units. Fold hinge zones are recognised as preferential positions within which massive sulphides may have accumulated and/or been preserved in metamorphosed and structurally complex mineralised systems. An interpreted fold hinge, west of CZD0099 therefore represents a priority target for further drill testing in 2020.

Succoth Deposit

Cassini reported a new geological interpretation at Succoth Deposit in February 2019 following completion of detailed infill drilling on a single geological section in the central part of the deposit. The new interpretation had significant positive implications for potential resource increases and mining economics, although additional drilling was required to validate this new interpretation beyond a single section line. The Company has now completed a further four diamond drill holes for 1,793m on two infill sections located 200m and 400m west of the first detailed infill section. The three sections now cover 400m strike extent of the deposit with drill hole spacing on the section line at 50m to 100m, whereas the drill hole spacing on section across rest of the deposit is >200m.

Results from the latest drilling support the folded geometry model at Succoth. The latest geometry, if extrapolated across the currently defined strike extent of the deposit, has implications for the scale of the resource, resource extensions, potential mining strip ratio and further economic considerations. Mineralisation remains open laterally, as well as at depth, and between broad-spaced drill holes outside of the three main drill sections.

An aeromagnetic survey was also flown over a relatively small block covering Succoth Deposit to assist with geological interpretation and targeting. The new magnetic data has helped to delineate existing mineralisation within a fault-bounded package of relatively magnetic lithologies. The east-west trending fault at the southern extent of Succoth has been intersected in sections XS-04 and XS-12. Although, mineralisation on those sections is truncated by the fault, it is not necessarily closed-off as some drill holes have interested mineralisation across the fault to the south. Mineralisation at Succoth remains open along a broad northeast-southwest trending corridor and potentially laterally. Broad drill hole spacing in particular to the north-east, means that further infill and extensional drilling could delineate zones of disseminated mineralisation broadly similar to those on section XS-20. The Company is continuing to evaluate the resource potential of Succoth and the impact it may have on Nebo-Babel development options.

Contact:

Richard Bevan

Tel: +61 8 6164 8900

Email: admin@cassiniresources.com.au

About the Company

Cassini Resources Limited (ASX: CZI) is a base and precious metals developer and explorer based in Perth. In April 2014, Cassini acquired its flagship West Musgrave Project (WMP), located in Western Australia. The Project is a new mining camp with three existing nickel and copper sulphide deposits and a number of other significant regional exploration targets already identified. The WMP is the largest undeveloped nickel - copper project in Australia. In August 2016, Cassini entered into a three-stage $36M Farm-in/Joint Venture Agreement with prominent Australian mining company OZ Minerals Ltd (ASX: OZL). The Joint Venture provides a clear pathway to a decision to mine and potential cash flow for Cassini. Cassini is also progressing its Mt Squires Gold Project (100%), and the Yarawindah Nickel - Copper - Cobalt Project (CZI 80%), both located in Western Australia.

(C) 2019 Electronic News Publishing, source ENP Newswire