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Castillo Copper drill results feature 14.45% copper, 5.93% zinc and 40.1 g/t silver

Published: 17:21 10 Dec 2018 EST

drill core
Gold assays from the recent diamond drill hole are still pending

Castillo Copper Ltd (ASX:CCZ) has received assay results from diamond drill hole CC0036D that targeted a downhole electromagnetic (DHEM) conductor at the Cangai Copper Mine in New South Wales.

A 9.6-metre high-grade mineralised intersection included 4.39 metres at 5.06% copper, 2.56% zinc and 20/1 g/t gold from 49.9 metres.

Within this 4.39-metre intersection, grades reached as high as 14.45% copper, 5.93% zinc and 40.1 g/t silver with gold assays still pending.

These results continue to strengthen the board’s view that Cangai Copper Mine has the potential to be one of the highest grading copper deposits in Australia.

READ: Castillo Copper secures funding to advance Cangai Project

Castillo’s chairman Peter Meagher said: “The assay results from the diamond drill core significantly exceeded the board’s expectations, especially the 14.45% copper reading.

“Clearly, in the board’s view, Cangai Copper Mine is one of the highest grading copper deposits across Australia.

“The board’s strategic intent has broadened to encompass, firstly, determining the scalability of the high-grade ore body at Cangai Copper Mine through more DHEM survey work and RC-drilling; and, secondly, capitalise on incremental exploration upside through flying aero-magnetic surveys over pre-selective parts of the Cangai South tenure to identify new high-grade targets.”

READ: Castillo Copper’s drilling continues to grow Cangai’s status as a high-grade polymetallic deposit

These diamond core results build on the RC-drilling assays from drill-hole CC0023R which delivered 11 metres at 5.94% copper, 2.45% zinc and 19.1 g/t silver from 40 metres.

Moving forward, Castillo has several strategic initiatives to progress, given there is still considerable exploration upside at Cangai Copper Mine apparent.

The immediate priorities are to complete the phase II campaign testing DHEM conductors identified under Mark’s, Greenberg’s and Volkhardts lodes to ascertain potential extensions to known massive sulphide mineralisation.

Additional DHEM surveys will also be conducted to identify new targets.

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