Business · Energy & Commodities · 2 hrs ago
Caspin lifts Kelpie tin resource by 45% and adds higher-confidence estimate
Caspin Resources has increased its estimated tin resource at the Kelpie deposit, part of the Bygoo project in New South Wales, by 45%.
The updated estimate is 6.5 million tonnes of rock containing 28,000 tonnes of tin.
It includes 1.4 million tonnes classified as indicated, a higher-confidence category, while the rest is classified as inferred.
The entire resource lies within an optimised open-pit shell, but a mineral resource is not the same as an ore reserve and does not establish that mining would be profitable.
Caspin is carrying out additional metallurgical tests and environmental baseline studies as it assesses a possible stand-alone open-pit mine.
Earlier tests recovered about 59% of the tin using gravity separation alone and about 84% when flotation was added.
Further drilling may expand the resource, and results from four completed diamond holes are still pending.
Caspin Resources increased the estimated contained tin at its Kelpie deposit by 45% to 28,000 tonnes.
The updated estimate is 6.5 million tonnes grading 0.43% tin.
For the first time, part of the resource is classified as indicated, a higher-confidence category.
The entire estimate lies within an optimised open-pit shell, but the estimate is not an ore reserve.
Caspin is continuing drilling and development studies at the Bygoo project in New South Wales.
- Who
- Caspin Resources, which is developing the Kelpie deposit.
- What
- It reported an updated mineral resource estimate with 45% more contained tin and a first indicated resource.
- When
- The update was reported on 12 October 2026.
- Where
- The Kelpie deposit at the Bygoo project in New South Wales, Australia.
- Why
- Increased drill density and a more detailed geological model supported the larger, higher-confidence estimate.
This story does not have two clearly opposing sides.
This is a significant milestone for the Company on the pathway to demonstrating a viable, stand-alone, high-grade open pit tin development project.
We have grown the resource by 45% in a short period of time, whilst also improving the confidence in the resource estimate.
Caspin announced the maiden resource estimate for Kelpie.
Drilling at Errol’s produced a 20m intercept grading 2.11% tin from 107m.
Caspin’s updated estimate reported 6.5 million tonnes at 0.43% tin for 28,000 tonnes of contained tin.
Four completed diamond holes remained outside the estimate while their assay results were pending.
- Updated resource
- 6.5 million tonnes at 0.43% tin
- Contained tin
- 28,000 tonnes, up 45%
- Indicated resource
- 1.4 million tonnes at 0.47% tin
- Inferred resource
- 5.1 million tonnes at 0.41% tin
- Indicated share of contained tin
- 7,000 tonnes, or 25%
- Project location
- Bygoo project, New South Wales
Sources
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