Castillo confirms high grade minerals at Cangai
Special report: Exceptional high grade results at the Cangai copper project in NSW show Castillo Copper has a “clear point of difference” from many of its ASX-listed peers, the company says.
The drilling results from the first five holes of a extensive 39-hole campaign confirm extensive massive sulphide mineralisation across the majority of drill holes completed, with significant amounts of zinc-silver supporting Castillo’s primary copper focus at Cangai.
Gold assays are pending, but the Castillo geology team expects them to be “consistent with the high grade nature of the deposit”.
“Assay results up to 10.25 per cent copper, 6.04 per cent zinc and 32.5 grams per tonne silver from the first five drill-holes are exceptional,” Castillo Copper’s Chairman Peter Meagher said.
“The event clearly represents a demarcation point that materially distinguishes our Cangai Copper Mine project.
“The focus now is to expand these outstanding results and to extend the known mineralisation through commencing follow up downhole electromagnetic (DHEM) surveys, which can optimise the remainder of the current drilling campaign.
“In addition, the Board is looking forward to assay results from soil and rock-chip samples east of the line of lode, as they are likely further extend the mineralised footprint.”
The goal of this drilling program is to grow the current resource at Cangai of 3.5 million tonnes at 3.35 per cent copper – which is already one of Australia’s highest grade JORC-compliant inferred resources for copper.
JORC refers to the mining industry’s official code for reporting exploration results, mineral resources and ore reserves, managed by the Australasian Joint Ore Reserves Committee.
Mineral resources are categorised in order of increasing geological confidence as inferred, indicated or measured.
This special report is brought to you by Castillo Copper
This advice has been prepared without taking into account your objectives, financial situation or needs. You should, therefore, consider the appropriateness of the advice, in light of your own objectives, financial situation or needs, before acting on the advice.
If this advice relates to the acquisition, or possible acquisition, of a particular financial product, the recipient should obtain a disclosure document, a Product Disclosure Statement or an offer document (PDS) relating to the product and consider the PDS before making any decision about whether to acquire the product.