Castile Resources Limited (ASX:CST) has commenced its annual field season with two drill rigs now active on site at the 100% owned Rover Project near Tennant Creek in Australia’s Northern Territory.
The programme includes 10,000m of diamond drilling across Rover 1 and other targets in the 100% wholly owned Rover Mineral Field.
Managing Director, Mark Hepburn, said the key objectives of this season’s programme at each target are:
The programme aims to further expand upon the gold- copper resource at Castile’s flag ship Rover 1 Project. Last year drilling defined a super-rich high grade gold core which is typical of the great historic Tennant Creek iron oxide copper gold (IOCG) gold mines. Drilling will target extending these zones as a primary foundation for mining studies.
Explorer 108 (35km West of Rover 1)
Drilling will test for primary sources of the large copper anomalism proximal to the virgin lead-zinc discoveries previously made at the Explorer 108 Prospect. Explorer 108 is only 35kms west of the Rover 1 discovery and Castile interprets a Mt Isa generic model for this ore system.
Explorer 142 (30 kms West of Rover 1)
At the Explorer 142 prospect, a Rover 1 look-alike IOCG system has been discovered. Drilling has so far only tested a part of the overall anomaly which has so far seen an Inferred Resource of 176kt at 5.2% Cu defined. Drilling will target extensions along strike and down dip within the mineralised system.
Rover 3 (13 kms North East of Rover 1)
Re-interpretation of geophysics saw Rover 3 emerge as another high impact target for IOCG mineralisation similar to Castile’s flagship Rover 1 deposit.
We are very pleased to begin what will be our first full field season since the demerger of the assets from Westgold,” Mr Hepburn said.
“Our short drill programme late in the 2020 field season achieved spectacular results including hole 20CRD0001 returning 30.4m @ 35.6 g/t Au with 1.46% Cu which has changed our views of the size and potential of the ‘bonanza’ gold zone at Rover 1.
“For our 2021 programme one of our rigs will target the expansion of the super-rich gold zone at Rover 1. These zones are typical of the prolific high grade IOCG mines around the Tennant Creek area which are amongst the richest in Australia’s mining history.
“The second rig will be targeting proximal and advanced targets such as at Explorer 108, Explorer 142 and Rover 3. Our shareholders will be getting continuous news flow from two rigs on these high-grade gold and copper targets for the next four to five months, so we are in for a very exciting time at Castile.”
Castile launched a Pre-Feasibility Study (PFS) on Rover 1 in early March that will include current $A gold prices, modern mining and processing techniques, assessing the by-products value and flexible financing options to suit the high-grade boutique nature of this asset. The company has the benefit of all the data from the previous drilling programs (approximately 85,000m) and technical assessment and study work completed by the previous owners of Castile, mainly Metals X and Westgold Resources.