Caspin Resources Ltd. has confirmed high-grade tin resources at the Kelpie deposit, suggesting growth potential at its Bygoo tin project in New South Wales.
The first 11 holes of the company’s 2026 reverse circulation (RC) drilling campaign have all intersected mineralisation, with several hits extending well beyond the current resource boundaries.
The standout result came from hole BRC018, which returned 13 metres at 1.16 per cent tin (Sn) from 103 metres, including a 2-metre zone grading nearly 3 per cent tin.
The Kelpie Deposit already hosts an impressive open-pit resource of 3.94 million tonnes at 0.50 per cent tin.
However, these latest results indicate that the mineralisation remains open and continues both up and down-plunge.
Caspin Managing Director Greg Miles said the results confirm the company’s belief that the project is grossly under-drilled, particularly around the Stewarts Fault area.
“The initial focus has been on the Stewarts Fault area, which is grossly under-drilled and therefore has excellent potential for substantial resource growth,” Miles said.
“It is very pleasing to have returned the highest-grade intersection from this area to date, highlighting the potential for locally increased grade as we expand the overall resource.”
Caspin is leveraging advanced geophysical techniques to refine its target. Recent Induced Polarisation (IP) and gravity surveys have identified previously unknown faults, such as Errol’s Fault, which geologists believe acted as plumbing for mineral-rich fluids.
Following the success of these surveys, the company has already commenced a second IP program to explore a further 1,000 metres to the west and north, including the prospective ‘Area 1’ target.
With the drill rig now mobilised back to Kelpie after a brief stint at Ardlethan East, the program has been extended through to late May. Results from approximately 26 holes (including Ardlethan East) remain pending.
The company aims to use the data from this expanded campaign to update its geological interpretation and ultimately grow the overall resource at Bygoo.
