Castillo Copper Ltd (ASX:CCZ) has revealed rock-chip results assaying up to 1,440 ppm cobalt and 23,700 ppm copper within the Area 1 prospect at its Broken Hill project in New South Wales.
Importantly, the rock-chip assay results provide evidence of potential exploration upside for polymetallic mineralisation within Area 1 and more broadly across the tenure.
Area 1 within the 117 square kilometres Broken Hill tenure
Castillo is planning a field trip for incremental detailed mapping and further surface sampling to boost the understanding of the polymetallic mineralisation potential within the tenure.
Castillo chairman Peter Meagher said: “The rock-chip assay results from the Area 1 prospect, especially 1,440 ppm cobalt and 23,700 ppm copper, clearly underscore the potential exploration upside for polymetallic mineralisation.
“Having reviewed legacy assays and changing market dynamics, the board has decided to broaden the exploration focus at Broken Hill from cobalt to include copper, zinc and lead mineralisation, given CCZ has full mineral rights and owns the tenure outright.
“As such, further site visits will be undertaken by the geology team to identify prospective areas for polymetallic mineralisation.
“However, this will not distract the board from its current core strategic objective to re-open Cangai Copper Mine.”
READ: Castillo Copper’s first batch of assays reveal 10.25% copper at Cangai
The company recently received assays from the first five drill holes of its 39-hole program at the Cangai Copper Mine in New South Wales.
Intersections include 11 metres at 5.94% copper, 2.45% zinc and 19.13 g/t silver from 40 metres including 1-metre grades of up to 10.25% copper, 6.04% zinc and 32.5 g/t silver.
The results clearly highlight that Cangai is a high-grade deposit, with multiple base-metals prevalent within its mineralised footprint.