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Castillo remaking Broken Hill

21 October 2022 10:55
ASX: CCZ

Australia is certainly a nation with mining pedigree, home to manifold renowned sites with no explanation needed; The Super Pit, Olympic Dam, Argyle, but maybe none so famed as the site of Broken Hill.

Home to what could be the largest zinc-silver-lead deposit in the world, a rich series of boomerang-shaped and highly sheared massive sulphide lenses, Broken Hill was the recipient of nicknames like The Silver City, Capital of the Outback, and the original branding of industry titan BHP Billiton.

While the shine of silver has faded and BHP long departed, there is an emerging story of the legendary site being reforged as a battery metal bastion.

Castillo Copper did not go into Broken Hill expecting cobalt, but repeated hits during early exploration across over 800 square kilometres of territory spurred a critical shift and a clear objective to build up a future-facing resource from the historic site.

Later discovery of possible rare earth mineralisation, with intersections showing as high as 1270 parts per million total rare earth oxides, bolstered the belief in making The Silver City a powerhouse of critical minerals.

Already home to a mineral resource estimate holding 21,556 tonnes of cobalt, plus 44,260 tonnes of copper, the explorer holds its assertion that higher grades and confidence will continue charging the battery.

The rig is currently over the eastern zone, spinning away on the long-awaited drilling campaign across four prospects: Reefs tank, Tors Tank, Fence Gossan and The Sisters.

Early signs have shown success, with four drill holes at Tors tank intersecting targeted zones of cobalt mineralisation while demonstrating significant magnetite-rich zones associated with pegmatite up to 14m thick, potentially playing host to REEs.

With these encouraging early results and battery-critical minerals proving their mettle on the market, all eyes will be on Broken Hill as Castillo returns first assays from drilling in the coming weeks.

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