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Castillo kick-off cobalt

3 October 2022 11:22
ASX: CCZ

After months of anticipation, Castillo Copper has fired up the rig over the Broken Hill project’s East Zone for 2100 metres of cobalt-focused drilling in outback New South Wales.

It stands as the next great leap for the explorer after repeated hits of cobalt at the site spurred a shift towards the battery metal — and an initial resource estimate earmarked for a boost in grade and confidence.

The campaign will comprise 18 holes across all four East Zone prospects over the next four weeks, testing for a suite of metals including gold, silver, copper and now rare earths after confirming mineralisation at the Iron Blow prospect.

Despite a wide target set, cobalt is circled as the major focus, with a key objective to intersect two potentially cobalt-rich zones beneath the Fence Gossan, Reefs Tanks and Tors Tanks prospects, believed to host a higher grade of cobalt than previously modelled.

The company said it was an exciting time to begin drilling across the wholly-owned project.

“The geology team have designed a comprehensive drilling campaign and the Board is optimistic the strategic intent to increase the confidence and grade of the current MRE is achievable,” managing director Dennis Jensen said.

CCZ’s Australian Stock Exchange-listed share price was trading at 1.6c today (10:40 am UTC+ 8 hours).

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