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- Castillo Copper (CCZ) hits cobalt zones and wide pegmatite intercepts at the BHA project at Broken Hill in New South Wales
- The company drilled four holes at the Tors Tank prospect, targeting cobalt mineralised zones within the BHA project’s east zone, which returned “encouraging” initial observations
- Subject to confirmation from final assays, the company’s geology team believe it hosts the potential for cobalt and rare earth element mineralisation
- Drilling has now wrapped up at Tors Tanks with samples sent off for analysis, and assays anticipated to be returned within the coming weeks
- Castillo Copper shares are down 5 per cent to trade at 1.9 cents at 10:29 am AEDT
Castillo Copper (CCZ) has hit cobalt zones and wide pegmatite intercepts at the BHA project at Broken Hill in New South Wales.
The company reported four holes were drilled for 488 metres at the Tors Tank prospect, targeting cobalt mineralised areas within the BHA project’s east zone, which returned “encouraging” initial observations.
Castillo said each hole displayed intersecting sequences comprising clay, amphibolite, schist and gneiss.
Logging also identified multiple disseminated sulphide layers up to 12 metres thick. These are often associated with amphibolite layers, which can reportedly lead to cobalt mineralisation.
Subject to the confirmation from final assays, the company’s geology team believe it holds potential for cobalt and rare earth element mineralisation.
“The drilling campaign has got off to an excellent start, with initial interpretations from the geology team confirming that targeted cobalt zones have been intersected,” Castillo Copper Managing Director Dr Dennis Jensen said.
“Moreover, whilst subject to final assay results, the Board is delighted to learn that significant pegmatite zones have been intersected which could potentially host rare earth elements.”
With the drilling at Tors Tanks wrapped up and all sampled collected and geologically logged, the company has now sent them on to a laboratory for processing and analysis.
The company said it looks forward to receiving its final assay results within the coming weeks.
Castillo Copper shares were down 5 per cent to trade at 1.9 cents at 10:29 am AEDT.
