Castillo Copper Ltd (ASX:CCZ) has received assay results from nine holes confirming extensions to mineralisation at the Cangai Copper Mine in New South Wales.
Results will look to expand upon the current JORC Inferred Resource of 3.2 million tonnes at 3.35% copper, one of Australia’s highest grade copper resources.
Notably, grades ranged up to 2.66% copper, 20.7 g/t silver and 2.35% zinc.
READ: Castillo Copper looks to restart production at the Cangai Copper Mine
Peter Meagher, chairman, said: “With assay results for half the current drilling campaign now in, the board is highly encouraged the initial findings confirm an extensive copper and precious metal mineralisation system.
“The program successfully targeted sulphide mineralisation which will blend with our existing high-grade supergene ore to expand the current resource size.
“The board believes there is material further upside to the mineralisation system, which explains the decision to expand the drilling program.”
The standout drill-hole was CRC005, more assays pending
Highlights from the first nine holes include:
5 metres at 1.56% copper, 4.43 g/t silver and 0.4% zinc from 92 metres;
3 metres at 1.76% copper, 13.08 g/t silver and 1.33% zinc from 224 metres; and
3 metres at 1.01% copper, 6.60 g/t silver and 0.34% zinc from 210 metres.
To date, 13.5 drill holes completed, with 4.5 remaining to finish the current campaign once adverse weather clears.
The final nine assay results will be released within a few weeks depending on laboratory processing times.