Castile Resources Limited (ASX:CST) reports that it has received promising results from the second hole of its first exploration programme at its Rover 1 Prospect in the Northern Territory.
The second diamond hole (20CRD002) has intercepted the expected IOCG (iron-oxide- copper-gold) mineralisation approximately 70m westerly and down plunge from the first hole, again targeting the base of the iron oxide copper gold (IOCG) zone where gold is enriched.
Managing Director Mark Hepburn said another set of favourable results have been returned with a broad zone of IOCG mineralisation across the expected three sub-parallel zones of higher-grade copper-gold mineralisation with bismuth and cobalt co-products pervaded as is reflected in the following downhole intercepts:
- 12.3m @ 4.51 g/t Au 1.49% Cu, 0.13% Bi, 0.07% Co and 4.04g/t Ag from 540.5m (Including 6.95m @6.49g/t Au and 1.79% Cu from 541.3m)
- 19m @ 4.6g/t Au and 0.24% Cu, 0.06% Bi, 0.01% Co and 1.25g/t Ag from 556m. (including 9m at 7.34 g/t Au and 0.23% Cu from 561m)
- 12.25m @5.09g/t Au, 0.44% Cu, 0.99% Bi, 0.05% Co and 5.83g/t Ag from 578.8m (including 2m @ 20.76g/t Au, 1.15% Cu and 3.64% Bi from 588m)
This is another great result and further confirms the continuity of the high grade copper gold mineralisation in the Rover 1 ore system,” Mr Hepburn said.
“Our drilling is continuing with the focus of the next few holes stepping outside to more conceptual targets at Jupiter West and Ganymede.
“The company looks forward to presenting the ongoing results as they come to hand.”
The 100% owned Rover Project is located 80 km southwest of the township of Tennant Creek in the Northern Territory.
The total tenement area is approximately 1,054 sq. km covering a significant proportion of the Rover Mineral Field.