Castillo Copper Limited (ASX:CCZ) has released a maiden MRE to the JORC (2012) Code for the BHA’s Project’s East Zone in NSW is 64Mt @ 318 ppm Co for 21,556t contained cobalt metal.
The much sort after battery metal is located at relatively shallow depths (two to 80m). Furthermore, the global MRE has 44,260t (63Mt @ 0.07% Cu) of contained copper metal that enhances the result.
Highlights
- In addition, the global MRE includes 44,260t of contained copper (63Mt @ 0.07% Cu)
- To extend known cobalt mineralisation, primary targets have already been factored into an inaugural drilling campaign which the Board intends to progress once key approvals are secured
- Moving forward, the Board intends to open discussions with potential off-take partners keen to lock in future cobalt supply chains and actively participate in the NSW government’s critical minerals initiative
“After a Herculean effort, CCZ’s geology team has modelled a maiden cobalt inferred Mineral Resource of 21,556t at relatively shallow depths. More encouragingly, there is considerable potential to extend known mineralisation with targeted drilling campaigns,” Managing Director Dr Dennis Jensen said.
“With strong global demand for cobalt clearly apparent, the Board intends to meet with prospective off-take partners eager to secure supply chains. In addition, CCZ plans to actively participate in the NSW government’s critical minerals initiative.”
Exploration potential
The MRE only factors in cobalt-copper mineralisation within two prospects Fence Gossan and Reefs Tank
For the other prospects modelled (Tors Tank, Ziggy’s Hill, Iron Blow and The Sisters) either had only enough data to estimate exploration targets or did not satisfy preliminary optimisation outcomes.
To extend and increase confidence in the delineated deposits, CCZ’s geology team have mapped out a comprehensive drilling campaign that is intended to target diamond coring the known cobalt mineralisation downdip to at least 100m.
The Board plans to implement the drilling campaign once all key approvals are secured. In addition, the Board intends to re-assess the potential of the West Zone for cobalt mineralisation, given it is proximal to Cobalt Blue’s.
In addition, previous work by CCZ’s geology team identified significant Himalaya Formation within the tenure which is known to host cobalt mineralisation. For further information please visit: https://castillocopper.com/
