Castillo Copper Ltd (ASX:CCZ) has received preliminary results from downhole electromagnetic (DHEM) surveys at its Cangai Copper Project in northern New South Wales.
The surveys conducted at the Volkardts lode identified several sizeable conductors, and all evidence to date indicates that massive sulphides are the only source for these conductors.
Further DHEM surveying is planned to gain greater clarity on the extent of these conductors.
READ: Castillo Copper downhole surveys target additional massive sulphides
Castillo’s chairman Peter Meagher said: “This is clearly going to be a very exciting period in Cangai Copper Mine’s evolution, with the inaugural diamond drilling campaign slated to start testing a priority massive sulphide conductor.
“The board is delighted with the preliminary DHEM survey reports confirming the presence of several sizeable conductors that are aligned with known and unknown mineralisation, highlighting the potential scalability of the project.
“Our core strategic objective to re-open Cangai Copper Mine continues to gain momentum as we garner a greater understanding of the underlying mineralisation.”
Survey results speak to project’s potential
The survey results demonstrate the Cangai Copper Mine project’s potential scale given several off-hole conductors are not associated with known mineralisation have been identified.
All readings to date indicate that there has been no conductive source material other than massive sulphides identified.
Further work must be undertaken before the interpretations can be finalised, however, the preliminary work has identified a priority massive sulphide conductor target to be drilled.
The diamond drill team to work on this week, weather permitting.