Caspin Resources Ltd (ASX:CPN) has picked up an impressive assay of 11 metres at 2.3% tin from 100 metres, including five metres at 4.63% Sn from 106 metres, from a recent drilling program at its Bygoo project in New South Wales.

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The result was taken from just one hole in a 12-hole (1,400m) reverse circulation drilling program at the Bygoo North prospect, with assays being received from an initial two holes.

A significant takeaway from this assay is what it shows about the continuity of mineralisation in the Main Lode, where drilling results included 35 metres at 2.1% Sn from 43 metres (including five metres at 6.00% Sn from 65 metres) and 35 metres at 1.71% Sn from 94 metres (including six metres at 5.04% Sn from 106 metres).

Managing director Greg Miles said the drilling pointed in the right direction when it came to Bygoo’s mineralisation. “These… are a significant step in achieving our objectives to prove the continuity of high-grade lodes and demonstrate the potential to extend what is already a large body of tin mineralisation.”

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The Caspin boss continued: “The result of 11m at 2.30% tin in BRC004 is of exceptional grade when compared to average grades of operating tin mines and with the tin price at over US$35,000 a tonne

“Tin is trading at 3.5 times the copper price, to provide some comparison.”

Caspin has been trading at 6cps through Thursday morning.

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