Castillo Copper’s metallurgical test work has revealed beneficiation upgrades as high as twelvefold for cobalt at Broken Hill alongside enhancements of 30 times copper and a huge 190 for gold in outback New South Wales.
Results demonstrated a copper-cobalt-gold resource easily liberated from the drill core which could form a very promising concentrate.
The best outcomes showed up at 2500 ppm for cobalt, 16,000 ppm copper and 3.87 grams per tonne of gold from a drill core at The Sisters Prospect in the eastern area of Broken Hill.
Located near the world’s largest zinc-silver-lead deposit, remarkable cobalt intercepts lead to an initial inferred mineral resource estimate of 21,556 tonnes of the essential battery metal and Castillo will remain focused on increasing confidence in the resource.
The company said surprisingly strong copper-gold upgrades provided intriguing new avenues.
“The board was pleasantly surprised upon learning of the exceptional metallurgical results, especially nearly 4 g/t gold and 1.6 per cent copper which provide new dynamics to follow up,” managing director Dennis Jensen said.
Next up for Castillo is determining the full extent of Broken Hill cobalt with its geology team busy finalising drilling targets across the site.
CCZ’s Australian Stock Exchange-listed share price has risen 7.69 per cent today, selling at 1.4c (8.42 am UTC+ 8 hours).