Castillo Copper Limited’s (ASX:CCZ) has obtained encouraging initial observations and interpretations in four drill-holes for a total of 488m have been completed at the Tors Tank Prospect within the BHA Project’s East Zone, NSW, Australia.
Subject to confirmation from final assay results, the geology team believe there is potential for cobalt and REE mineralisation.
The drilling intersected a geological sequence comprising clay, amphibolite, schist, gneiss, and pegmatite that appears to be dipping moderately. More significantly, the intersected geology is interpreted to be consistent with observations by previous explorers, including Broken Hill North, during the 1970-80s.
“The drilling campaign has got off to an excellent start, with initial interpretations from the geology team confirming that targeted cobalt zones have been intersected. Moreover, whilst subject to final assay results, the Board is delighted to learn that significant pegmatite zones have been intersected which could potentially host rare earth elements,” Managing Director Dr Dennis Jensen said.
Cobalt mineralisation
During the qualitative logging process, multiple disseminated sulphide layers (mostly pyrite) up to 12m thick were identified. This is significant, as previous work by North Broken Hill1 suggested the pyrite hosts cobalt mineralisation. Further analysis of the samples showed that pyrite is mostly associated with amphibolite layers and, thinner, sparser horizons which also occur and are spread within interbedded schist and gneiss layers.
Supporting the interpretation that cobalt mineralisation is apparent, but subject to final assay confirmation, field XRF observations indicated positive readings within the amphibolite zones.
REE potential
Proximal to the amphibolite layers are significant magnetite zones which are directly associated with pegmatite up to 14m thick that, subject to final assay confirmation, could potentially host REEs.
This interpretation is based on recent re-assays of diamond core from drill-hole DD90_IB3 at the Iron Blow Prospect. It has comparable geology and confirms the presence of high-grade REEs within the BHA Project’s East Zone. Notably, the best intersection was 8m @ 1,270ppm TREO2.
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