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Castillo see Lithium in Picasso’s painting

22 November 2021 09:39
ASX: CCZ

CCZ has mapped lithium mineralisation far beyond historical indications, confirming a zone of pegmatites extending 10 kilometres at the Picasso project in Western Australia.   

The project, held under the 90-day acquisition option, is close to multiple rich lithium targets, proximal to Liontown’s massive Buldania project and 120 kilometres southeast to the Mt Marion and Bald Hill mines.  

The company’s geology team spent several days at the lithium project focused on the exposed north-east quadrant where the high-density pegmatite corridor is located.  

The company said its inference had to be that the project was highly prospective for the skyrocketing battery metal.  

“The Board’s preliminary conclusion, based on due diligence undertaken to date, is the Picasso Lithium Project is prospective for lithium mineralisation and delivers significant incremental exploration potential,” managing director Simon Paull said.  

Potential exists to discover further pegmatites across the tenure obscured by a shallow sand cover.  

Picasso is one of two lithium projects for the company, its promising Litchfield project in the Northern Territory is expected to return assays within two to three weeks. 

CCZ’s Australian Stock Exchange-listed price is trading at 3.8c (8:16 am UTC+8) 

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