Caspin Resources Identifies High-Grade Tin-Tungsten Target at Bygoo’s Taylors Hill

Caspin Resources (ASX: CPN) has identified a new high-grade tin-tungsten target at the Taylors Hill prospect within the Bygoo tin project in New South Wales after combining newly acquired soil geochemistry with field mapping, sampling, and historical drilling records.

Historical drilling completed in the early 1970s returned standout intervals including 3.0 metres at 3.69% tungsten trioxide (WO3) and 0.39% tin and 1.5m at 0.20% WO3 and 3.20% tin.

Located within a tungsten soil anomaly extending more than 800m, the prospect contains extensive historical workings, with Caspin recognising Taylors Hill as both a high-grade tin opportunity and the first high-grade tungsten target identified at Bygoo.

The company plans to advance Taylors Hill and other regional tin-tungsten targets in parallel with diamond drilling at the Kelpie deposit, where a resource update remains scheduled for late September.

Historical Data Reveals Scale

The historical program comprised three holes totalling 259m drilled by Magnum Explorations NL, with two intersecting significant mineralisation beneath historical workings.

Broader results included 10.6m at 1.07% WO3 and 0.12% tin and 12.2m at 0.11% WO3 and 0.68% tin, but neither area was followed up with further drilling.

Close-spaced soil geochemistry has defined a tungsten anomaly over more than 800m along north-east to south-west trending faults, peaking at 34.6 parts per million (ppm) against a background of 3ppm, with the historical holes lying within the anomaly.

“Tungsten prices have surged since late 2025 due to mining and export restrictions in China, which controls approximately 80% of world supply,” managing director Greg Miles said.

“The current price of tungsten is approximately six times that of tin and twenty times that of copper, [and] the company is excited to evaluate the tungsten potential of the project as a complementary opportunity alongside our tin exploration and development activities.”

Regional Potential from Fordes

At the Fordes gossan prospect, Caspin has also identified tin and tungsten-rich gossanous material through rock chip sampling and an expanded footprint of mineralisation at surface.

Standout rock chip samples returned 0.12% WO3 and 2.01% tin, as well as 0.33% WO3 and 1.76% tin, together with associated antimony, bismuth, silver, and copper.

Caspin considers dense gossanous brecciated sediments at Fordes to have potential for breccia-pipe-hosted mineralisation, a style known from the nearby Ardlethan tin mine where tungsten mineralisation was also recorded historically.

Project-wide soil geochemistry has highlighted tungsten anomalism that is spatially distinct from known tin-mineralised zones, prompting further mapping supported by high-resolution magnetic and gravity data.

Next Steps across Bygoo

Further work at Taylors Hill is expected to include additional soil and rock geochemistry and potentially geophysics to define drill targets.

This work will run alongside similar programs advancing the second tier of tin prospects at Ardlethan South and Ardlethan East.

Assays are pending for numerous rock chip samples collected across Taylors Hill and Ardlethan South, which Caspin expects to use with ongoing surface mapping to assess the scale of mineralisation.

Diamond drilling is continuing at Kelpie to extend mineralisation and add geological information ahead of the planned late-September resource update.