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Castillo rare earth lies wide

23 November 2022 09:12
ASX: CCZ

Castillo Copper’s latest assays have confirmed its rare earth element discovery lies more widespread than first believed across the East Zone of its Broken Hill Project in outback New South Wales.

Since discovery, all assays from the Fence Gossan, Tors Tank and Reefs Tank prospects have highlighted rare earth mineralisation lying widespread and shallow.

Top intercepts of 11m @ 1,078 TREO from 8m, 20m @ 609ppm TREO from surface incl. 4m @ 1,709ppm REO from 8m and 11m @ 862ppm TREO from 58m continue to charge the project’s rare earth lustre after Castillo made last week’s clay-hosted game changer.

And assays are still coming in from Reefs Tank and Tors Tank – where all four drill holes returned shallow barium and iron assays with best intercepts of 13m @ 6388ppm Ba and 19m @ 38% Fe from 16m.

The company said it was delighted to have new assays show consistent and shallow mineralisation across such wide stretches of the East Zone.

“Moreover, the interpreted scale of this shallow REE discovery, within a mining friendly district, is an outstanding result which has the potential to create significant value for shareholders,” chairman Ged Hall said.

Castillo are moving fast on its new discovery, with a bulk sample to undergo testwork while sampling, mapping and drilling campaigns fire up to fully quantify the East Zone’s rare earth potential.

CCZ’s Australian Stock Exchange-listed share price was trading at 1.9c today (8.59 am UTC+ 8 hours).

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