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Caspin Resources Ltd. ( (AU:CPN) ) just unveiled an update.
Caspin Resources reported an active March quarter at its Bygoo Tin Project, with reverse circulation drilling at the Kelpie deposit and reconnaissance work at Ardlethan East. The company also undertook geophysical and geochemical surveys across the project area as it seeks to expand existing resources and define new tin targets.
All 11 initial Kelpie drill holes returned tin mineralisation, including several high-grade intersections outside the current resource envelope, supporting a revised geological interpretation and suggesting strong potential for resource growth. Early work at Ardlethan East, adjacent to the historic Ardlethan Mine, delivered multiple tin-in-soil anomalies and rock chip grades up to 3.78% tin, establishing a second exploration front.
On the corporate front, Caspin raised $6 million in equity from new and existing shareholders to fund ongoing exploration and project advancement. The company also streamlined its portfolio by allowing the Weethalle Gold Project option to lapse and divesting the Mount Squires Project, sharpening its strategic focus on the Bygoo Tin Project.
More about Caspin Resources Ltd.
Caspin Resources Ltd. is an ASX-listed mineral exploration company focused on the Bygoo Tin Project in Australia. The company is advancing the high-grade Kelpie tin deposit, which currently hosts an open pit resource of 3.94 million tonnes at 0.50% tin for 19,300 tonnes of contained metal, and is positioning itself as a tin-focused explorer with exposure to nearby brownfields opportunities.
Average Trading Volume: 1,316,671
Technical Sentiment Signal: Buy
Current Market Cap: A$33.91M
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