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Castillo charge Broken Hill battery

5 May 2022

ASX:CCZ

Jack Baker

Castillo Copper has confirmed up to 24 meters of cobalt – as modelling nears completion at the Broken Hill Alliance project near the remote mining city in outback New South Wales.

The latest assay results provide further surety of extensive cobalt mineralisation in the eastern zone of the 800 square-kilometre prospective cobalt-zinc sites.

Meanwhile, diamond core assays from the nearby Iron Blow prospect indicate rare earths.

The company said the Sisters Prospect’s assays had convinced the board that the cobalt mineralisation could go beyond the defined target area.

“Whilst this will be the subject of future exploration campaigns, the geology team are aiming to complete the primary cobalt MRE shortly,” managing director Dennis Jensen said.

The next steps for the company include assay results for the Arya prospect and formalising timing for its next Big One drilling campaign.

Results

New:

24m @ 424ppm Co from 103m

8m @ 1,270ppm Total Rare Earth Oxides from 150m

Reported:

23m @ 660ppm Co from 28m

14m @ 262ppm Co from 84m

15m @ 760ppm Co from 67m

CCZ’s Australian Stock Exchange-listed share price has risen 5.26 per cent today, selling at 20c (8.46 am UTC+ 8 hours).

COMPANY OVERVIEW

Castillo Copper Limited (ASX: CCZ) is an ASX-listed base metal explorer primarily focused on copper then nickel, zinc & cobalt.

The group is embarking on a strategic transformation to morph into a mid-tier copper group underpinned by three core pillars:

    • Pillar I: Cangai Copper Mine in northern New South Wales, which is one of Australia’s highest grading historic copper mines with a JORC inferred resource of 3.2Mt @ 3.35% Cu.
    • Pillar II: The Mt Oxide project in the Mt Isa district, north-west Queensland, which delivers significant exploration upside through having a sizeable untested anomaly within its boundaries in a copper-rich region.
    • Pillar III: Several high-quality prospective assets in Zambia, which is the second largest copper producer in Africa.

In addition, Castillo Copper is progressing a dual listing on the standard board of the London Stock Exchange.

COMPANY INFORMATION

ASX:CCZ

Website
castillocopper.com

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