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Cobalt unearthing shifts Castillo’s focus

14 January 2022
ASX: CCZ
Jack Baker

The Discovery of multiple areas of cobalt-copper and zinc mineralisation at its Broken Hill Alliance project in New South Wales move Castillo’s battery metal focus to cobalt.  

Over 100 drill-holes with cobalt values of over 200 parts per million, including an eye-opening high of 9500ppm, were unearthed after a recent geological review of Broken Hill Alliance’s east zone.  

With the price of the ferromagnetic metal over US$70,000 and nearing a three and a half year high, the discovery tipped the explorer’s hand to turn focus on the project and begin work on modelling a JORC compliant mineral resource.  

Consequently, such a find has caused the company to opt against the potential acquisition of the Litchfield and Picasso lithium assets.  

The company said the uncovering was at an opportune moment.   

“This is a timely discovery that significantly enhances the project’s exploration potential for battery metals, especially as it coincides with the NSW government launching its critical minerals and high-tech metals strategy,” managing director Simon Paull said.  

Modelling a JORC 2012 compliant resource at the Big One deposit and furthering the development of its graphite base metal discovery at the Arya prospect are other priorities. 

CCZ’s Australian Stock Exchange-listed price is trading at 3.3c (8:26 am UTC+8 hours) 

COMPANY OVERVIEW

Castillo Copper is an Australian-based explorer primarily focused on copper across Australia and Zambia. We are embarking on a strategic transformation into a mid-tier copper group underpinned by our four high-quality assets: NWQ Copper: New discovery at the Big One Deposit within the Mt Isa copper-belt district of Queensland, with a further nine high-grade targets including the Arya Prospect Zambia – Zed Projects: Four high-quality prospective assets across Zambia’s copper-belt – the second largest copper producer in Africa Broken Hill: A large tenure footprint proximal to the world-class Broken Hill silver-zinc-lead deposit Cangai: One of Australia’s highest grading historic copper mines with a JORC compliant resource (3.2Mt @ 3.3%), up to 14.45% Cu and significant upside potential Castillo Copper is dual listed on the Australian Stock Exchange and London Stock Exchange under the ticker “CCZ”.

COMPANY INFORMATION

ASX: CCZ

Website

https://castillocopper.com/
https://www2.asx.com.au/markets/company/ccz

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