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Castillo get a rare opportunity at Broken Hill

31 October 2022 10:44
ASX: CCZ

With cobalt-focused drilling well underway across its Broken Hill project, Castillo Copper is preparing to target rare-earths at the Silver City, after producing several prime drill targets from reconciling geochemical and geophysical data.

Data was taken from various campaigns at the Iron Blow prospect within Broken Hill’s East Zone, identifying bedrock conductors that could possibly host mineralisation.

Castillo’s new REE targets come from the re-assay of a historical drill core taken from Iron Blow, with rare earth readings up to 1460 total rare earth oxides.

While rare earths at the prospect will be the focus moving forward, mineralisation is coincident with base metals and cobalt, confirmed by assays with peak values of 9200ppm Cu, 2500ppm Zn, 9400ppm Pb and 350ppm Co.

The company has said it has already earmarked Iron Blow for a nine-hole drill campaign, contingent on current drilling.

“Re-assaying the historical diamond drill core for REEs has been a game changer that significantly enhances the Iron Blow Prospect’s exploration potential,” managing director Dr Dennis Jensen said.

“More significantly, the geophysical interpretations deliver prime targets, which potentially host mineralisation, for drill testing.”

CCZ’s Australian Stock Exchange-listed share price has risen 5.23 per cent today, currently selling at 2.0c (9:08 am UTC+ 8 hours).

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