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00:41 Wed 01 Jun 2022
Castillo Copper prepares Broken Hill assets for IPO with CPS Capital appointment
“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,” says MD Dr Dennis Jensen.
Castillo Copper Ltd (LSE:CCZ, ASX:CCZ) has modelled a maiden cobalt mineral resource for the East Zone of the Broken Hill Alliance (BHA) Project of 64 million tonnes at 318 parts per million cobalt for 21,556 tonnes of contained metals, as well as adding 44,260 tonnes of contained copper to the project’s global mineral resource estimate (MRE).
Castillo modelled the MRE from historical drilling data gathered between 1970 and 2014, including reverse circulation (RC) rotary air blast and diamond core drilling campaigns.
The geology team uncovered an initial total of 6,346 drill-holes across the East Zone undertaken by reputable explorers including the North Broken Hill Group who produced extensive documentation that meets quality assurance and quality control requirements.
In the interest of increasing the cobalt resource, Castillo has already selected primary targets for an inaugural drilling campaign which will progress once key approvals are obtained.
“After a Herculean effort, CCZ’s geology team has modelled a maiden cobalt inferred mineral resource of 21,556 tonnes at relatively shallow depths,” Castillo Copper managing director Dr Dennis Jensen said.
“More encouragingly, there is considerable potential to extend known mineralisation with targeted drilling campaigns.
“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.”
From here Castillo intends to undertake infill and extensional drilling of known cobalt mineralisation, open discussions with prospective offtake partners and begin active participation in the New South Wales government’s critical minerals strategy.
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Castillo Copper Ltd (LSE:CCZ, ASX:CCZ)'s Dennis Jensen speaks to the company's progress at the Broken Hill Alliance project in New South Wales. Recently, the company completed diamond core tests on material from the asset, unveiling the high-grade cobalt-zinc potential across the asset. Now,…
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Castillo Copper fields 21,556-tonne cobalt maiden mineral resource estimate for Broken Hill Alliance Project East Zone – Proactive Investors UK
