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Castillo Copper (ASX:CCZ) - Managing Director, Simon Paull
Managing Director, Simon Paull
Source: The Market Herald
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  • Castillo Copper (CCZ) identifies a 10-kilometre zone of pegmatites at the Picasso Lithium Project in Western Australia
  • The pegmatite zone was identified via mapping across the entire project with the majority of the focus on the north-east where the zone is located
  • Additionally, the pegmatites potentially host lithium mineralisation, however, confirmation is subject to further work
  • Castillo is now undertaking due diligence across Picasso, with updates to be made as work progresses
  • Shares in Castillo are steady on the market and are trading at 3.8 cents

Castillo Copper (CCZ) has identified a 10-kilometre zone of pegmatites at the Picasso Lithium Project in Western Australia.

The Picasso Project is situated roughly 50 kilometres from Norseman and lies proximal to Liontown Resources (LTR) Buldania Project, which has a JORC compliant resource of 14.9 million tonnes at 0.97 per cent lithium oxide.

The pegmatite zone was identified via mapping across the entire project, with the majority of the focus on the northeast where the zone is located.

The size of the pegmatite significantly exceeds Castillo’s expectations.

Additionally, the pegmatites potentially host lithium mineralisation, however, confirmation is subject to further work.

Managing Director Simon Paull commented on the company’s findings.

“The geology team’s visit to the Picasso Lithium Project delivered encouraging news, confirming that a 10 kilometre zone of pegmatites is apparent in the tenure’s north-east quadrant,” Mr Paull said.

“The board’s preliminary conclusion, based on due diligence undertaken to date, is the Picasso Lithium Project is prospective for lithium mineralisation and delivers significant incremental exploration potential.”

Castillo is now undertaking due diligence across Picasso, with updates to be made as work progresses.

Shares in Castillo were steady on the market and were trading at 3.8 cents at 11:23 am AEDT.

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