- Castillo Copper (CCZ) completes a maiden mineral resource estimate (MRE) for the East Zone within the BHA project in NSW
- The MRE stands at 64.4 million tonnes at 318 ppm cobalt and 0.07 per cent copper for 21,556 tonnes of contained cobalt and 44,260 tonnes of contained copper
- Castillo calculated the MRE using historical drilling data and it incorporates the Fence Gossan and Reefs Tanks deposit
- Looking ahead, CCZ plans to conduct further drilling to infill and extend the MRE and will also re-assess the potential of the West Zone
- Company shares are trading up 20 per cent at 1.8 cents at 10:52 am AEST
Castillo Copper (CCZ) has announced a maiden mineral resource estimate (MRE) for the East Zone within the BHA project in New South Wales.
The East Zone’s maiden MRE stands at 64.4 million tonnes at 318 parts per million (ppm) cobalt and 0.07 per cent copper for 21,556 tonnes of contained cobalt and 44,260 tonnes of contained copper.
The East Zone MRE factors in the Fence Gossan and Reefs Tank deposits with Reefs Tank contributing the majority 42.3 million tonnes at 345 ppm cobalt and 0.06 per cent copper for 14,594 tonnes of cobalt and 26,580 tonnes of copper.
Castillo Copper calculated the JORC 2012 MRE using data from drilling conducted over more than four decades.
“After a Herculean effort, CCZ’s geology team has modelled a maiden cobalt inferred MRE of 21,556 tonnes at relatively shallow depths,” Managing Director Dr Dennis Jensen said.
“More encouragingly, there is considerable potential to extend known mineralisation with targeted drilling campaigns.”
The East Zone contains other deposits, including Tors Tank, Ziggy’s Hill, Iron Blow and The Sisters, however they weren’t part of this initial estimate.
To extend and increase confidence in the delineated deposits, the company has planned a drilling program to infill and extend the MRE.
Castillo Copper also plans to re-evaluate the potential of the West Zone for cobalt mineralisation, due to its proximity to Cobalt Blue’s (COB) Broken Hill project.
Company shares were trading up 20 per cent at 1.8 cents at 10:52 am AEST.