Junior minerals explorer Castillo Copper Limited (ASX: CCZ) has uncovered an exciting new drill target after in-depth desktop studies identified a large cobalt anomalism in its Broken Hill Project in New South Wales.
The company is planning to drill the new targets as part of its aggressive drilling campaign that will also see it test its Cangai Copper Mine asset in northern NSW.
Castillo’s research into historic work at its Broken Hill Project by previous operators uncovered excellent cobalt anomalisms in four areas including a reading of up to 2,060ppm Co.
The company also reported finding four areas with high- \grade zinc mineralisation, within and contiguous to neighbouring tenure, that it says are candidates for an initial drilling programme.
Castillo Copper’s Executive Director Alan Armstrong said the desktop work has confirmed significant cobalt surface mineralisation of up to 7,000ppm on strike and near the company’s Broken Hill Project.
“Having now identified four cobalt as well as four zinc zones, CCZ is very well placed to maximise our opportunity at Broken Hill,” Mr Armstrong stated.
“In terms of timing, the Board intends to initially complete our drilling program within and surrounding the Cangai Copper Mine and then move onto the Broken Hill Project to drill known zinc and cobalt targets.”
The four highly prospective anomalous zones are located on the eastern and southwestern boundaries of the company’s projects that are contiguous with neighbouring tenure.
In the northeast quadrant of the tenure, surface mineralisation up to 2,060ppm Co was recorded on a strike trending southeast within Castillo’s tenure. Further to the south, along the eastern boundary, significant surface mineralisation trending into the tenure is apparent with up to 990ppm Co in the mix.
Just outside the western boundary but striking into the project area, surface mineralisation up to 3,000ppm Co has been found. Within the same anomalous zone, legacy drill-holes had intersections that contained 7,000ppm Co. Southwest of the project area but on a contiguous system, surface mineralisation of up to 4,000ppm was recorded.
The company said that generating these high-grade Co results – within and on anomalous zones that run into the project area – is extremely encouraging and highlights the company’s material exploration upside.
With some 1,400 drill-holes now encoded, management believes it has now determined the extent of high-grade Zn mineralisation across the Broken Hill Project. The next phase is to generate models for the most promising sections and highlight key targets for the inaugural drilling program, which will commence post the Cangai Copper Mine campaign.