Caspin Resources (ASX: CPN) is ramping up exploration after identifying a new tin and tungsten target at the Taylors Hill prospect within the Bygoo Tin Project in New South Wales.

The Bygoo Project adjoins the historic Ardlethan tin field, one of Australia's largest hard-rock tin producers, giving the company access to a district with a proven tin endowment but limited modern systematic exploration.

The company uncovered historical drilling data that had not previously been included in its database and analysed its own soil geochemistry, supported by field mapping and sampling.

Managing Director Greg Miles said Taylors Hill is significant as another previously unrecognised high-grade tin opportunity, as well as the source of the first high-grade tungsten results in the Bygoo project.

"In parallel with resource extension activities at the Kelpie deposit, the company has been working through the mineralisation potential of the entire Bygoo Project, focussed primarily on tin, but cognisant that other metals are commonly found associated with tin in the region," Mr Miles said.

"The Taylors Hill prospect is another new target that has been recognised from historical data and supported by our newly acquired soil geochemistry. It is also the first high-grade tungsten opportunity recognised in the project."

"Tungsten prices have surged since late 2025 due to mining and export restrictions in China, which controls approximately 80% of world supply. Meanwhile, demand in technology and defence applications continues to grow. The current price of tungsten is approximately six times that of tin and twenty times that of copper; it's an extremely high value metal. The company is excited to evaluate the tungsten potential of the project as a complementary opportunity alongside our tin exploration and development activities."

Both tin and tungsten are designated critical minerals by several governments, including the United States and Australia, reflecting supply-chain concentration and their use in electronics, defence and industrial applications.

Situated directly southwest of the Ardlethan mining lease, Taylors Hill hosts a large scattering of historical workings some 500m west of the main Ardlethan granite contact at 'Ardlethan South'. The workings include numerous moderate to large pits, costeans and underground shafts along both NE and NW trends. Despite significant greisen mineralisation noted at surface, almost no modern exploration has occurred there, likely due in part to the locally rugged topography.

Three holes were drilled into the prospect area in the early 1970s by Magnum Explorations for a total of 259m, testing beneath the historical workings. At least two of the holes recorded significant mineralisation. These results have never been followed up with further drilling and represent a priority exploration opportunity for Caspin.

Caspin has covered the Taylors Hill area with close-spaced soil geochemistry, which revealed a large tungsten anomaly striking over 800m, related to NE-SW trending faults, with a peak value of 34.6ppm against a background of 3ppm. The Magnum Explorations drill holes lie within this soil anomaly.

Assays are currently pending for numerous rock chip samples recently collected across the Taylors Hill and Ardlethan South areas. This data, in conjunction with ongoing surface mapping, will help the company assess the scale of tin and tungsten mineralisation across the Taylors Hill area.

CPN shares were steady at 12.0¢ with a market capitalisation of $35.38M.

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