Join our daily newsletter At The Bell to receive exclusive market insights
- Castillo Copper (CCZ) “confirms” high-grade platinum, gold and cobalt mineralisation within the East Zone of its BHA project in New South Wales
- The company says historical surface sampling undertaken at the Iron Blow prospect points to the potential for shallow platinoid mineralisation within ultrabasic dykes and metamorphic rocks
- The best rock-chip sampling results included 3.7 grams per tonne platinum and 6.1 g/t gold
- Castillo says its geology team are retesting six mineralised sections from historical drill holes at the Sisters and Iron Blow prospects at the core library in New South Wales
- CCZ shares up 5.56 per cent to 1.9 cents
Castillo Copper (CCZ) has “confirmed” high-grade platinum, gold and cobalt mineralisation within the East Zone of its BHA project in New South Wales.
The company said forensic geological analysis of past surface sampling undertaken at the project’s Iron Blow prospect indicated the potential for shallow platinoid mineralisation within ultrabasic dykes and metamorphic rocks.
The best rock-chip sampling results included 3.7 grams per tonne platinum and 6.1 g/t gold, with assayed surface samples also demonstrating base metals and cobalt potential, according to Castillo.
Historic diamond core drilling data also showed the presence of cobalt at the Sisters prospect.
The company said it was retesting up to six mineralised sections taken from both prospects at the core library in New South Wales for platinoids, base metals and cobalt, with the findings to help shape an inaugural field trip.
Castillo said it was also continuing to work on modelling for a JORC-compliant mineral resource estimate for the East Zone with a focus on cobalt and largely underpinned by the Reef Tank and Tors Tank prospects.
“With global copper and cobalt prices near multi-year highs and $6.7 million cash on hand, CCZ has strong foundations to further capitalise on this favourable dynamic with mineral resource estimates already completed for the Big One deposit and the Cangai copper mine, and one is currently under way at the BHA Project,” CEO Dr Dennis Jensen said.
CCZ shares were trading 5.56 per cent higher at 1.9 cents at 11:53 am AEDT.
