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Castillo Copper hit Broken Hill pegmatites

24 October 2022 12:11
ASX: CCZ

Castillo Copper‘s drill campaign at Broken Hill’s East Zone continues to ramp up as it hits the halfway mark, with all four holes at the Fence Gossan Prospect hitting targeted cobalt mineralisation zones.

The 516 metres of drilling intersected clay, amphibolite, schist, gneiss and numerous disseminated sulphide layers up to 17m thick which could host cobalt mineralisation.

Fence Gossan also hosts significant magnetite-rich zones similar to those at the Iron Blow and Tors Tank prospects, associated with pegmatite zones up to 19m thick, potentially hosting cobalt, rare earths and platinum group elements.

This interpretation is based on a re-assay of a drill core from Iron Blow, which returned intersections up to 8m @ 1,460ppm total rare earth oxides, indicating the presence of high-grade REEs in the East Zone.

As the company works to turn the historic Silver City into a battery metal bastion, the company said it is delighted to have such exciting results at the halfway point of drilling.

“The Board is optimistic that known mineralisation at the Tors Tank & Fence Gossan Prospects has potentially been extended,” managing director Dr Dennis Jensen said.

“For Fence Gossan, in particular, the Board is delighted to note the significant pegmatite intercepts which have the potential to host REEs as well as PGEs.”

Samples from Fence Gossan have been sent for analysis, with initial results expected in the coming weeks as the drilling campaign marches on.

CCZ’s Australian Stock Exchange-listed share price has risen 23.529 per cent today, currently selling at 2.1c (11.52 am UTC+ 8 hours).

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