Caspin Resources Limited (ASX: CPN) is a mineral explorer with its main project being the Bygoo tin project near West Wylong in New South Wales. It has the leases surrounding the old Ardlethan tin mine. Its maiden Inferred Resource Estimate is 3.94mt @ 0.5% Sn for 19,300t of contained tin.
MetalsX (ASX:MLX) has 50% of the Renison mine in Tasmania that has measured, Indicated and Inferred Resource of 20.8Mt at 1.40% Sn for a total of 292kt of contained tin. So Bygoo as it stands is pretty small beer in comparison, though it would be an open pit operation if it was ever come to fruition.
Earlier this year CPN picked up the option to earn 80% of the Weethalle gold Project in NSW in the same area as Bygoo. In the mid 1930s for a short time they were trucking surface gold ore to Port Kembla where the gold was recovered and they were getting up to 5 oz per ton. No drilling has ever been done in the vicinity of this outcrop. Some sharp eyed private geological types have the leases on the area and did the deal with CPN.
CPN is headed by Justin Tremain and as pointed out by Bear77 Justin is MD of Turaco Gold and seems to turn up diamonds in these sorts of outfits. Also the well-regarded geologist Jon Hronsky is on the board. Lion tipped in $750k in September of this year.
Drilling at the Weethalle project started on the 28/10/25. Today the share price jumped 36% on no news. With the proliferation of XRF machines (entry level $17k) I just wonder what some people might now know that us shiny-arses don’t.