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Castillo set to charge Broken Hill

9 August 2022 07:25
ASX: CCZ
Broken Hill

Castillo Copper is spinning up for an extensive drilling campaign in the Broken Hill Alliance project’s east zone and finalised its targets to expand the cobalt and copper resource in outback New South Wales.

Looking to build up grade and confidence in the current estimate of 21,556 tonnes of cobalt and 44,260 tonnes copper, the drill campaign across four prospects will target primary cobalt, assess extensions — and investigate the site’s potential for both platinum group elements and rare earths.

And at the Fence Gossan, Reefs and Tors Tanks prospects, the campaign looks to hit into two cobalt-rich stretches interpreted to host even higher grades of mineralisation.

There is never a bad time for an upgrade and the recent acquisition rebuff of BHP by OZ Minerals suggests even higher prices on the horizon for future facing metals, while Castillo has revealed beneficiation upgrades up to 12 times cobalt and 30-fold copper at the project.

The company said its geological team had taken extensive due diligence over the site.

“The targets selected for test-drilling should significantly deepen our understanding of the underlying system,” managing director Dennis Jensen said.

Preparations for drilling are well underway, with the explorer advancing drilling contractor negotiations and regulatory and environmental approvals.

CCZ’s Australian Stock Exchange-listed share price was trading at 1.5c today (7.14am UTC+ 8 hours).

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