Castillo Copper begins drilling in the hunt for cobalt at Broken Hill
Proactive Investors
Published Oct 03, 2022 09:04
Updated Oct 03, 2022 09:30
Castillo Copper begins drilling in the hunt for cobalt at Broken Hill
Castillo Copper Ltd (LSE:CCZ, ASX:CCZ) has embarked on a cobalt-focused drilling campaign at the Broken Hill Alliance (BHA) Project’s East Zone in Far West New South Wales.
Over the next four weeks, the exploration team will complete one diamond core and 17 reverse circulation (RC) drill holes, covering 2,100 metres across four cobalt prospects.
At The Sisters target, Castillo intends to drill two holes in the search for cobalt, copper and rare earth element mineralisation.
Meanwhile, across the Reefs Tank, Tors Tank and Fence Gossan prospects, the drill rig will explore two lower, potentially cobalt-rich zones that are interpreted to host higher-grade mineralisation.
Castillo’s proposed drilling campaign.
Ultimately, Castillo hopes to extend the East Zone’s mineralised footprint and build the confidence and grade of its global mineral resource.
At present, the East Zone is reported to host 64 million tonnes of ore at 318 parts per million cobalt for 21,556 tonnes and 63 million tonnes at 0.07% copper for 44,260 tonnes.
Castillo Copper managing director Dr Dennis Jensen said: “This is an exciting time for Castillo Copper as drilling is now underway at our 100%-owned BHA Project’s East Zone.
“The geology team has designed a comprehensive drilling campaign and the board is optimistic the strategic intent to increase the confidence and grade of the current mineral resource estimate is achievable.”
About Castillo Copper
Dual-listed Castillo Copper is an Australian-based explorer primarily focused on copper across Australia and Zambia.
The group’s ultimate goal is to become a mid-tier copper group underpinned by its core projects.
CCZ boasts a large footprint within the Mt Isa copper belt in northwest Queensland, where several high-grade targets and an untested anomaly provide a substantial exploration opportunity.
The company is also prospecting four assets in Zambia’s copper belt — a country known for being the second-largest copper producer in Africa.
Over in New South Wales, Castillo is investigating a large tenure footprint near Broken Hill’s world-class deposit. The BHA Project is prospective for cobalt, zinc, silver, lead, copper, gold and platinoids.
Finally, in the state’s north, CCZ is realising the potential behind the Cangai Copper Mine — one of Australia’s highest-grading historical copper plays.
Read more on Proactive Investors AU
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