ASX-listed copper explorer Castillo Copper (ASX:CCZ) reports it has identified several prime rare earth element (REE) targets for drill testing following reconciling of geophysical and geochemical data at its Broken Hill Zn-Ag-Pb-IOCG Project in New South Wales.
The results, generated by reconciling data from historical drilling campaigns in 2000,2001 and 2017 at the project’s Iron Blow prospect, have identified several ‘significant’ bedrock conductors that have the potential to host rare earth element (REE) mineralisation.
In particular, diamond drillhole DD90_1B3 (sourced from the core library) has returned positive readings over 35m, with the best intersections including, 8m at 1460ppm total rare earth oxide (TREO) from 150m and 4.8m at 311ppm TREO from 232m.
It is also reported that the company’s geology team intends to fully re-analyse this diamond core from drillhole DD90-1B3 in order to formulate a future drilling campaign for the Iron Blow prospect, with 9 holes already planned.
Speaking on the results, Castillo Copper’s Managing Director, Dr. Dennis Jensen said: “Re-assaying the historical diamond drill core for REE’s has been a game changer that ‘significantly’ enhances the Iron Blow prospect’s exploration potential.
“Re-assaying the historical diamond drill core for REE’s has been a game changer that ‘significantly’ enhances the Iron Blow prospect’s exploration potential”
More significantly’, the geophysical interpretations deliver prime targets, which potentially host mineralisation for drill testing.”
Castillo Copper also notes that base metal and cobalt mineralisation is coincident with the REE mineralisation identified within the drillhole, which was confirmed by assays returned from an outcropping sulphide gossan zone.
Assays returned to date include peak values of up to 9,200ppm copper (Cu), 2,500PPM zinc (Zn), 9,400ppm lead (Pb) and 350ppm cobalt (Co), with results averaging grades 2,550ppm Cu, 617ppm Zn and 208ppm Pb.
In addition, it is reported that further work is required to delineate the bedrock conductors more accurately and to define potential plunge/depth extensions, which should in turn provide data points to aid in the formulation of the ‘robust’ drilling campaign.
Castillo Copper is an ASX-listed copper-focused exploration company that is the current owner of four projects across Australia and Zambia, which represent the backbone of the company’s strategy to become a mid-tier copper producer. The company’s Broken Hill project is located in proximity to the township of Broken Hill in New South Wales and comprises four tenements that cover a total land area of 801.3km-square and are prospective for Co-Zn mineralisation.
With results from reconciling the geochemical and geophysical data now returned, Castillo Copper announces it will move forward with plans to fully re-assay the diamond core and have marked the Iron Blow prospect as the next priority drill target,
Future drilling is contingent on the outcome of the current drilling campaign.
Images: Castillo Copper Ltd
