Castillo Copper (ASX:CCZ) reports that it has encountered ‘significant’ outcropping pegmatites during a field trip at its Litchfield Lithium Project in the Northern Territory.
The pegmatites were observed along the north-western boundary of the project, in an area that sits directly adjacent to Core Lithium’s (ASX: CXO) Finnis Lithium Project which houses a JORC 7.4Mt @ 1.3% Li2O ore reserve.
“Initial due diligence at the Litchfield Lithium Project is off to an excellent start, with demonstrable photographic evidence of pegmatite outcropping”
Speaking on the result, Castillo Copper Managing Director Simon Paull said: “Initial due diligence at the Litchfield Lithium Project is off to an excellent start, with demonstrable photographic evidence of pegmatite outcropping along the western boundary. The Board now awaits the outcome of assay results which will determine the potential for contiguous mineralisation with CXO’s Finniss Lithium Project. In the meantime, our team’s efforts are now focused on commencing the inaugural drilling campaign at the Arya Copper Prospect in the Mt Isa copper belt.”
Castillo had previously reported that satellite imagery had confirmed that geology along the project’s north-western boundary is comparable to CXO’s adjacent ground.
The site visit, which was carried out by a geological consultant from Vendor Group, involved intensive surface sampling from across four targets within the project’s north-west quadrant, resulting in 657 samples which have been submitted for laboratory analysis.
Importantly, the geologist reported that areas sampled were primarily comprised of metamorphic rocks linked to the Burrell Creek formation, which is a host rock for regional pegmatite occurrences.
The company reports that assay results are expected within weeks, with due diligence on the project continuing.
Images: Castillo Copper Limited