http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Thu, 21 Jun 2018 18:12:15 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Castillo Copper crosses another milestone towards re-opening Cangai Copper Mine ]]> http://www.proactiveinvestors.com.au/companies/news/198986/castillo-copper-crosses-another-milestone-towards-re-opening-cangai-copper-mine-198986.html Castillo Copper Limited (ASX:CCZ) has received clearance from the New South Wales mining regulator to progress the phase II drilling campaign at Cangai Copper Mine.

This builds on the phase I program and should significantly broaden the geology team’s understanding of mineralisation apparent within the system.

Significantly, early results indicate that Cangai is similar to Sandfire Resources’ (ASX:SFR) Degrussa project, where high-grade supergene ore oxide material sits above larger volumes of mineralised sulphides.

READ: Castillo Copper drill results validate high-grade Sandfire-like copper deposit

Castillo chairman Peter Meagher said: “Regulatory approval to commence the phase II drilling campaign heralds another significant milestone towards the board’s strategic goal of re-opening Cangai Copper Mine.

“The board is confident the geology team have mapped out a comprehensive drilling program, targeting supergene ore and massive sulphides, that has the potential to expand the resource size.”

The phase II reverse circulation drilling campaign at Cangai comprises 39 drill-holes.

Key targets areas are supergene ore near the legacy workings and where massive sulphides were identified during the phase I program.

Once this second drilling campaign concludes, the geology team anticipates the resource size may potentially be materially expanded.

READ: Castillo Copper confirms high-grade supergene ore at Cangai Copper Project

Land clearing is already well underway in preparation for the campaign to start.

The drilling contractor has visited the project reviewing access routes and planned drill pads, so that work can commence as soon as practical.

Meanwhile, with the work at Cangai progressing on several fronts, Castillo’s next focus will be an update on the Broken Hill project.

READ: Castillo Copper’s cobalt shares same geology as Cobalt Blue’s Thackaringa deposit ]]>
Mon, 18 Jun 2018 11:11:00 +1000 http://www.proactiveinvestors.com.au/companies/news/198986/castillo-copper-crosses-another-milestone-towards-re-opening-cangai-copper-mine-198986.html
<![CDATA[News - Castillo Copper confirms high-grade supergene ore at Cangai Copper Project ]]> http://www.proactiveinvestors.com.au/companies/news/197144/castillo-copper-confirms-high-grade-supergene-ore-at-cangai-copper-project-197144.html Castillo Copper Ltd (ASX:CCZ) has confirmed the presence of high-grade supergene ore in drilling at the historical Cangai Copper Mine in northern New South Wales.

Assays from phase I drilling have returned copper intersections greater than 3% with mineralisation found in seven out of nine holes.

These results have prompted Castillo to fast-track phase II drilling targeting supergene ore near legacy workings as part of plans to reopen the mine.

READ: Castillo Copper completes phase I drilling aimed at reopening Cangai Copper mine

Similar high-grade copper results from Sandfire Resources NL (ASX:SFR) in supergene ore at Morck’s Well project in Western Australia also provide encouragement.

Castillo’s chairman Peter Meagher said: “The first round of drilling at Cangai, which specifically targeted deeper sulphide mineralisation, has been highly successful.

“This is evidenced by some encouraging assays, which demonstrated extensive mineralisation, that also produced assays over 3% copper.”

 

 

The best result was 6 metres at 2.69% copper, 0.39% zinc and 9.2 g/t silver from 1 metre, including 4 metres at 3.08% copper, 0.44% zinc and 10.6 g/t silver.

Mineralisation open

Mineralisation is open to the east and west, while massive sulphides intersected in one hole suggests a potential splay off the main line of lode warranting further investigation.

This hole returned 1 metre at 3.31% copper, 1.11% zinc and 5.7 g/t silver from 39 metres.

In addition, a drill hole electromagnetic anomaly discovered immediately along strike to the east of CRC005 drill hole, warrants further investigation.

This hole had an intersection of 4 metres at 1.54% copper, 1.17% zinc and 11.5 g/t silver.

The phase I program comprised 18 holes along the Cangai line of lode targeting deeper sulphide mineralisation.

READ: Castillo Copper adds cobalt targets at Cangai Project

Castillo’s geology team is delighted with the results as evidence suggests incremental larger scale drilling programs can potentially deliver resource size upside.

It confirmed the integrity of the JORC modelled zone and uncovered new extensions and potential discoveries warranting further investigation.

Next drilling campaign

Meagher said: “Moving forward, the next drilling campaign has been designed specifically to determine the extent of high-grade supergene ore mineralisation near legacy workings.”

Ore from the Smelter Creek stockpile.

This campaign will comprise 39 shallow drill holes focused on supergene ore and is set to begin once regulatory approval is obtained.

A drilling contractor has been appointed and is ready to deploy to site.

The contractor uses highly versatile equipment suitable for the hilly terrain at Cangai.

To further enhance the understanding of the stockpiles, and build on metallurgy test work underway, several drill-holes are planned for the Smelter Stockpile site.

Resource estimate planned

The geology team will then target modelling up a JORC compliant resource as quickly as possible to determine the extent of contained copper-zinc-silver in the ore.

“Further, in an encouraging development, metallurgical test-work and JORC modelling of the stockpiles will be fast-tracked,” Meagher said.

“This comes as several prospective customers are showing interest in signing offtake agreements for the discarded ore.”

Aircore drilling by Sandfire at Morck’s Well intersected narrow zones of sulphide and supergene copper mineralisation.

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Thu, 17 May 2018 09:32:00 +1000 http://www.proactiveinvestors.com.au/companies/news/197144/castillo-copper-confirms-high-grade-supergene-ore-at-cangai-copper-project-197144.html
<![CDATA[Media files - "It's going to be a very busy 12 months" at Cangai and Broken Hill for Castillo Copper ]]> http://www.proactiveinvestors.com.au/companies/stocktube/9199/-it-s-going-to-be-a-very-busy-12-months-at-cangai-and-broken-hill-for-castillo-copper-9199.html Thu, 03 May 2018 15:09:00 +1000 http://www.proactiveinvestors.com.au/companies/stocktube/9199/-it-s-going-to-be-a-very-busy-12-months-at-cangai-and-broken-hill-for-castillo-copper-9199.html <![CDATA[News - Castillo Copper’s cobalt shares same geology as Cobalt Blue’s Thackaringa deposit ]]> http://www.proactiveinvestors.com.au/companies/news/196191/castillo-coppers-cobalt-shares-same-geology-as-cobalt-blues-thackaringa-deposit-196191.html Castillo Copper Ltd (ASX:CCZ) has identified six cobalt prospects near Broken Hill with the same geological sequence as the nearby Thackaringa deposit of Cobalt Blue Holdings Ltd (ASX:COB).

The targets within Castillo’s Broken Hill project have the Himalaya Formation present and the company believes they are highly prospective for cobalt.

In fact, Castillo’s geology team is on site implementing a high-level exploration plan on the pre-selected sites.

This is being done to gain a greater understanding of the underlying geology, especially the extent of cobalt mineralisation.

READ: Castillo Copper looks to fast-track cobalt exploration program nearby to Cobalt Blue's Thackaringa

Shares were up 11% in early trade to 4.2 cents and improved again late afternoon to 4.3 cents.

The geology team’s work will be reconciled with geophysics interpretation to help determine the design of an inaugural cobalt-focused drilling program.

Chairman Peter Meagher said: “It is pleasing to have the geology team on site undertaking mapping reconnaissance and geochemistry work.

“The six targeted areas have been carefully selected for their high prospectivity for cobalt mineralisation and similarities with Cobalt Blue’s Thackaringa project, especially having the Himalaya Formation presence confirmed.”

Targets host Himalaya Formation

Castillo identified the six targets hosting the Himalaya Formation after reviewing legacy drilling and geochemistry data, geophysics, geological observations and regional maps.

This work included reviewing an airborne geophysical magnetic dataset of the region.

Geologists believe there is a clear association between cobalt mineralisation and the Himalaya Formation of the Thackaringa Group.

Based on preliminary analysis, Target 1 is believed to be the most prospective of the six prospects.

Adjacent deposits

Archer Exploration (ASX:AXE) owns an adjacent deposit where several cobalt targets at surface have been identified that are also constrained to the Himalaya Formation.

Notably, the geology of surface outcrops at Cobalt Blue’s deposit, which is just 2-3 kilometres south of Castillo’s Target 6, aligns with this description.

The Thackaringa deposit has a JORC-compliant resource of 72 million tonnes at 852 ppm cobalt, 9.3% sulphur and 10% iron for 61,500 tonnes of contained cobalt.

Thackaringa is held in joint venture by Cobalt Blue and Broken Hill Prospecting (ASX:BPL) and both companies have undergone a share price re-rating.

READ: Castillo Copper adds cobalt targets at Cangai Project

While Castillo’s core objective is to reopen the Cangai Copper Project in northern New South Wales, Meagher said: “It is critical the board is across the underlying geology and extent of cobalt mineralisation at the Broken Hill project.

“We have a relatively large footprint in a region that is growing in stature as a prospective global supply chain hub for speciality metals.”

Cangai comprises a volcanogenic massive sulphide ore deposit, with one of Australia’s highest grade JORC compliant inferred resources for copper of 3.2 million tonnes at 3.35%.

In terms of contained metal, the inferred resource is 107,600 tonnes of copper, 11,900 tonnes of zinc, 2.1 million ounces of silver and 82,900 ounces of gold.

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Wed, 02 May 2018 08:27:00 +1000 http://www.proactiveinvestors.com.au/companies/news/196191/castillo-coppers-cobalt-shares-same-geology-as-cobalt-blues-thackaringa-deposit-196191.html
<![CDATA[News - Castillo Copper adds cobalt targets at Cangai Project ]]> http://www.proactiveinvestors.com.au/companies/news/195308/castillo-copper-adds-cobalt-targets-at-cangai-project-195308.html Castillo Copper Ltd (ASX:CCZ) has identified new primary cobalt targets at surface within the Cangai Project in New South Wales which previously focused on copper.

Exploration for new cobalt targets is set to progress concurrently with the Cangai Copper Mine expansion campaign.

The new primary cobalt targets were a result of the board holding an onsite strategic review at the project.

READ: Castillo Copper looks to restart production at the Cangai Copper Mine

Castillo Copper’s chairman Peter Meagher said: “Our first onsite board meeting at Cangai Copper Mine commenced with total agreement to re-brand the project name to Cangai Cobalt and Cangai Copper reflective of where mineralisation has been identified.

"While the core focus remains Cangai Copper Mine, the board is keen to garner a greater understanding of the extent of cobalt mineralisation across the entire tenure and ramp up exploration efforts in Broken Hill.

“The board is focused on creating value for shareholders where practical, which explains the recent move to monetise the legacy stockpiles.”

Occurrences more than 300ppm cobalt at surface

The desktop review highlighted Castillo’s ground has occurrences more than 300ppm cobalt at surface.

With high cobalt soil anomalies in the project area, the company is well positioned to expedite exploring these zones.

Corazon intends to employ a similar strategy used by neighbouring cobalt explorer, Corazon Mining Ltd (ASX:CZN).

The company also has tenure near Broken Hill located 2-3 kilometres from Cobalt Blue Holdings Ltd’s (ASX:COB) tenure, which it intends to investigate.

Fast-track phase II drilling still a priority

While the strategic review at Cangai has added cobalt to the exploration objectives, fast-tracking the Cangai Copper Mine into production is still a top priority.

Foremostly, this means fast-tracking the phase II drilling program, which is awaiting regulatory approval.

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Thu, 19 Apr 2018 09:57:00 +1000 http://www.proactiveinvestors.com.au/companies/news/195308/castillo-copper-adds-cobalt-targets-at-cangai-project-195308.html
<![CDATA[News - Castillo Copper is granted trading halt by ASX ]]> http://www.proactiveinvestors.com.au/companies/news/194391/castillo-copper-is-granted-trading-halt-by-asx-194391.html Castillo Copper Ltd (ASX:CCZ) has been granted a trading halt by the ASX this afternoon.

The company requested the halt while it seeks clarification regarding compliance with s708(A) of the Corporations Act 2001.

It will remain in place until the opening of trade on Tuesday, April 10, 2018, or earlier if an announcement is made to the market.

Before the halt, Castillo traded at up to 4.6 cents, slightly higher than Thursday’s close.

READ: Castillo Copper completes phase I drilling aimed at reopening Cangai Copper mine

Castillo’s flagship project is the historical Cangai Copper Mine near Grafton in northeast New South Wales.

The project comprises a volcanogenic massive sulphide ore deposit, with a JORC-compliant inferred resource of 3.2 million tonnes at 3.35% copper.

In terms of contained metal, the inferred resource is 107,600 tonnes of copper, 11,900 tonnes of zinc, 2.1 million ounces of silver and 82,900 ounces of gold.

READ: Castillo Copper appoints director to oversee exploration program, drill assays pending

The company also has tenements near Broken Hill that are prospective for cobalt and zinc, as well as assets in Queensland prospective for copper-cobalt and cobalt-nickel.

Castillo’s wholly-owned Chilean assets comprise six exploration concessions across a total area of 1,800 hectares that are well known for high-grade copper-gold projects.

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Fri, 06 Apr 2018 14:08:00 +1000 http://www.proactiveinvestors.com.au/companies/news/194391/castillo-copper-is-granted-trading-halt-by-asx-194391.html
<![CDATA[News - Castillo Copper completes phase I drilling aimed at reopening Cangai Copper mine ]]> http://www.proactiveinvestors.com.au/companies/news/193916/castillo-copper-completes-phase-i-drilling-aimed-at-reopening-cangai-copper-mine-193916.html Castillo Copper Ltd (ASX:CCZ) has completed the phase I, 18-hole reverse circulation drill program at the Cangai Copper Mine located in New South Wales.

While assays for the remaining nine holes are pending, seven out of the final nine drill-holes intersected shallow mineralisation between 0 and 20 metres.

With the drilling program intersecting mineralisation outside the JORC modelled zone, the geology team are optimistic phase I may increase the resource size.

READ: Castillo Copper assay results confirm copper mine’s expansion potential

Castillo’s chairman Peter Meagher said: “The completion of phase I of the Cangai drilling campaign is a significant milestone, as the board progresses with plans to fast-track re-opening the mine.

“Once regulatory approval for phase II is approved, drilling will commence across 13 drill pads closer to the legacy workings targeting high-grade supergene ore, which is expected to facilitate the commencement of JORC modelling.”

Consultant appointed to monetise legacy stockpiles

Meagher added: “The board is now exploring options on how to monetise the legacy stockpiles, which includes appointing Hetherington Exploration & Mining Title Services to provide holistic guidance on how progress this initiative.”

The board has been reviewing a range of options on how to create value for shareholders in the near-term and believes monetising the legacy stockpiles is a realistic plan.

To date, the geology team have reviewed the McDonoughs stockpile and were encouraged with assay results confirming up to 2.13% copper.

A preliminary study of the Smelter Creek slag stockpile, which is off the line of lode, highlighted it was larger in volume than the other legacy stockpiles.

Next priority is to secure phase II drilling approval

The next priority is to secure regulatory approval for phase II of the drilling campaign and establish a timeline for when it can commence.

The regulatory application for phase II drilling, which focuses on shallower supergene ore across 13 drill pads near legacy workings, is expected to be submitted shortly

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Wed, 28 Mar 2018 10:15:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193916/castillo-copper-completes-phase-i-drilling-aimed-at-reopening-cangai-copper-mine-193916.html
<![CDATA[News - Castillo Copper appoints director to oversee exploration program, drill assays pending ]]> http://www.proactiveinvestors.com.au/companies/news/193825/castillo-copper-appoints-director-to-oversee-exploration-program-drill-assays-pending-193825.html Castillo Copper Ltd (ASX:CCZ) has appointed Peter Smith as a non-executive director to its board.

Smith has over 30 years of mining industry experience within both large corporates such as BHP Billiton (ASX:BHP) and small explorers.

Smith will oversee Castillo’s exploration program which is focused on the Cangai Copper Mine and identifying cobalt mineralisation within the Broken Hill Project.

Smith will replace the outgoing Neil Hutchinson

Smith will replace Neil Hutchison who has resigned from the board to progress his other business interests

Castillo’s chairman Peter Meagher said: “The board is delighted to secure the services of an experienced exploration geologist and mining executive in Peter Smith.

“With an ambitious exploration program ahead, Castillo looks forward to Peter’s contributions moving forward.”

Phase II drilling assays pending from Cangai

Earlier this month, Castillo 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.

READ: Castillo Copper assay results confirm copper mine’s expansion potential

Notably, grades ranged up to 2.66% copper, 20.7 g/t silver and 2.35% zinc.

Results from the remaining nine holes in the 18-hole phase II campaign remain pending.

READ: Castillo Copper looks to fast-track cobalt exploration program nearby to Cobalt Blue's Thackaringa

Castillo also is looking exploring its Broken Hill Project nearby to the emerging Thackaringa cobalt deposit near Broken Hill in New South Wales.

The company recently received a report from its geology consultant indicating anomalous cobalt occurrences across its Broken Hill Project.

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Tue, 27 Mar 2018 10:12:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193825/castillo-copper-appoints-director-to-oversee-exploration-program-drill-assays-pending-193825.html
<![CDATA[News - Castillo Copper looks to fast-track cobalt exploration program nearby to Cobalt Blue's Thackaringa ]]> http://www.proactiveinvestors.com.au/companies/news/193334/castillo-copper-looks-to-fast-track-cobalt-exploration-program-nearby-to-cobalt-blue-s-thackaringa-193334.html Castillo Copper Ltd (ASX:CCZ) has received a report from its geology consultant, indicating anomalous cobalt occurrences across its Broken Hill Project.

The project is just north of the Thackaringa cobalt deposit, which had its JORC resource upgraded today.

Thackaringa is held in joint venture by Cobalt Blue (ASX:COB) and Broken Hill Prospecting (ASX:BPL) and both companies have undergone a share price re-rating.

With the cobalt price remaining around US$85,000 per tonne and the region emerging as a new global supply hub, Castillo is looking to fast-track its cobalt exploration program.

Gaining an understanding of the type and extent of mineralisation across the tenure will assist the company in developing an exploration strategy.

Definition of three major zones

A key feature of the new review is defining three major zones which are to be targeted for potential cobalt mineralisation.

Previous exploration has primarily focused on traditional Broken Hill mineral systems containing zinc, lead and silver.

However, due to growing demand for battery-grade minerals, the economics are favourable for cobalt.

Fast-tracking cobalt focused program

Peter Meagher, chairman said: “With the cobalt price around US$85,000 per tonne, the board has mandated geology consultant, Xplore Resources, to fast-track the assessment program.

“This will assist in understanding the extent of cobalt mineralisation and developing the inaugural drilling program for our Broken Hill asset.”

Proven regional cobalt mineralisation

Management views the regional success of companies such as Cobalt Blue (ASX:COB), Havilah Resources (ASX:HAV), and Alloy Resources (ASX: AYR) as encouraging.

Castillo sees the area as becoming a potential supply chain hub for cobalt which augurs favourably for CCZ, particularly given its proximity to peers with defined JORC resources.

The company will be focusing on reopening its Cangai Copper Mine while gaining a deeper understanding of the cobalt potential at the Broken Hill asset.

Castillo has had recent exploration success at Cangai.

READ: Castillo Copper backs up January results with further drilling success ]]>
Mon, 19 Mar 2018 08:55:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193334/castillo-copper-looks-to-fast-track-cobalt-exploration-program-nearby-to-cobalt-blue-s-thackaringa-193334.html
<![CDATA[News - Castillo Copper assay results confirm copper mine’s expansion potential ]]> http://www.proactiveinvestors.com.au/companies/news/192882/castillo-copper-assay-results-confirm-copper-mines-expansion-potential-192882.html 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.

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Fri, 09 Mar 2018 08:51:00 +1100 http://www.proactiveinvestors.com.au/companies/news/192882/castillo-copper-assay-results-confirm-copper-mines-expansion-potential-192882.html
<![CDATA[News - Castillo Copper looks to restart production at the Cangai Copper Mine ]]> http://www.proactiveinvestors.com.au/companies/news/192808/castillo-copper-looks-to-restart-production-at-the-cangai-copper-mine-192808.html Castillo Copper Ltd (ASX:CCZ) is focused on fast-tracking the Cangai Copper Mine located in New South Wales back into production.

The Jackaderry Project hosts the historical Cangai Copper Mine, which has a JORC Inferred Resource of 3.2 million tonnes at 3.35% copper, one of Australia’s highest grade copper resources.

After delineating Cangai’s JORC resource using historical exploration data recently in September 2017, Castillo sees good potential for resource expansion in its maiden drilling program.

Project portfolio focused on copper, cobalt, zinc and nickel

Castillo is a base metal explorer primarily focused on copper, cobalt, zinc and nickel with the bulk of its core operating assets in eastern Australia.

Its project portfolio includes:

• Jackaderry Project (100%, New South Wales): 3 prospects including the Cangai Copper Mine;
• Broken Hill Project (100%, New South Wales): 2 prospects;
• Mt Oxide Project (100%, Queensland): 4 prospects;
• Marlborough Project (under application, Queensland): 3 prospects; and
• Chilean Projects (100%).

Drilling clearly reveals the resources upside potential

Castillo delineated Cangai’s JORC resource using historical exploration data recently in September 2017.

The maiden drilling program targeted resource expansion.

Drilling logs confirmed that 7 out of 8.5 drill-holes intersected sulphide mineralisation.

The best intersection was 30 metres thick and came from an untested area between two known JORC modelled lodes.

READ: Castillo Copper backs up January results with further drilling success

The drilling program confirmed the current JORC model and clearly revealed the upside potential of the resource.

Early cash flow opportunity through old high-grade stockpiles

XRF analysis confirmed high-grade copper mineralisation apparent in five historical stockpiles, showing up to 30% grades which is consistent with legacy assays.

The high-grade ore stockpile areas are early potential targets for cash flow generation, if mining operations re-commence.

Furthermore, the Cangai Copper Mine’s high-grade supergene ore is able to be shipped to Asian customers, by trucking the ore to Grafton nearby to access the railway network.

Zinc and cobalt targets at Broken Hill Project

During September, evidence of surface mineralisation for zinc and cobalt was uncovered as part of the desktop review process at the Broken Hill Project.

Just outside the western boundary but striking into the project area, surface mineralisation grading up to 3,000 ppm cobalt was been found.

Within the same anomalous zone, legacy drill-holes had intersections that contained 7,000 ppm cobalt.

The review has also uncovered multiple legacy drill holes with grades of up to 3% zinc.

Given the prices of zinc and cobalt are also very strong, generating drill targets within the Broken Hill Project will follow the Cangai drilling campaign.

New chairman in February with valuable experience

Castillo appointed Peter Meagher as chairman, a highly experienced executive in the mining industry.

With over 30 years of experience in managing projects at all levels, his expertise in progressing an emerging company such as Castillo should be valuable.

Meagher’s past experience includes a period as chairman of Extract Resources (ASX:EXT) where he was instrumental in growing Extract’s projects.

These were eventually acquired by China Guangdong Nuclear Power Group through a takeover which valued Extract at over A$2.1 billion in 2012.

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Thu, 08 Mar 2018 13:38:00 +1100 http://www.proactiveinvestors.com.au/companies/news/192808/castillo-copper-looks-to-restart-production-at-the-cangai-copper-mine-192808.html
<![CDATA[News - Castillo Copper appoints Peter Meagher as chairman as it fast tracks Cangai copper mine ]]> http://www.proactiveinvestors.com.au/companies/news/191470/castillo-copper-appoints-peter-meagher-as-chairman-as-it-fast-tracks-cangai-copper-mine-191470.html Castillo Copper Ltd (ASX:CCZ), developer of the Cangai Copper Mine, has appointed Peter Meagher as chairman, a highly experienced executive in the mining industry.

With over 30 years of experience in managing projects at all levels, his expertise in progressing an emerging company such as Castillo should be valuable.

Meagher’s past experience includes a period as chairman of Extract Resources (ASX:EXT).

Building Extract Resources to a $2.1 billion takeover

Meagher was instrumental in growing Extract’s projects.

These were eventually acquired by China Guangdong Nuclear Power Group through a takeover which valued Extract at over A$2.1bn in 2012.

Meagher also brings experience in corporate finance, an important attribute as the company looks to fund extensive exploration programs.

Appointment comes at a crucial time for Cangai Copper Mine

As Castillo is looking to fast track activities at its high-grade Cangai Copper Mine in New South Wales towards production, Meagher’s entry is well timed.

READ: Castillo Copper backs up January results with further drilling success

His appointment also coincides with an uptick in the base metal cycle and unprecedented demand for key lithium-ion battery inputs.

Alan Armstrong, executive director said: “The incumbent Board members are delighted to welcome Peter Meagher to Castillo Copper and look forward to working with him as we progress an aggressive agenda to re-open Cangai Copper Mine.”

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Mon, 12 Feb 2018 08:51:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191470/castillo-copper-appoints-peter-meagher-as-chairman-as-it-fast-tracks-cangai-copper-mine-191470.html
<![CDATA[News - Castillo Copper backs up January results with further drilling success ]]> http://www.proactiveinvestors.com.au/companies/news/191254/castillo-copper-backs-up-january-results-with-further-drilling-success-191254.html Castillo Copper Ltd (ASX:CCZ) has delivered promising results from drilling at its Cangai Copper mine in New South Wales, part of the company’s Jackaderry Project.

Drilling logs confirmed that 7 out of 8.5 drill-holes intersected sulphide mineralisation.

The best intersection was 30 metres thick and came from an untested area between two known JORC modelled lodes.

Results backup promising data from mid-January

The company has intersected highly mineralised sulphides ranging from disseminated and breccia sulphides on the outer zones.

These trended to semi-massive/massive veins within the core of the shear zone.

The results come on the back of promising drill sections identified in mid-January.

READ: Castillo Copper drill results validate high-grade Sandfire-like copper deposit Armstrong buoyed by intersection of highly mineralised zones

The drilling program has also confirmed the veracity of the current JORC model and clearly implies there is significant potential resource size upside.

Alan Armstrong, executive director, said: “The board is highly encouraged by the progress of the drilling campaign to date, particularly the news that highly mineralised sulphide zones have been intersected.

"Our objective is to re-open Cangai Copper Mine and so far the evidence suggests we are on track to achieve this goal.”

Objectives for balance of drilling program

After reviewing the results from recent drilling, the company aims to develop a large bulk open pit resource at Cangai.

The focus will be on gathering further evidence over the balance of the drilling campaign to increase the current JORC compliant copper-zinc-gold-silver resource. 

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Wed, 07 Feb 2018 08:55:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191254/castillo-copper-backs-up-january-results-with-further-drilling-success-191254.html
<![CDATA[News - Castillo Copper drill results validate high-grade Sandfire-like copper deposit ]]> http://www.proactiveinvestors.com.au/companies/news/190055/castillo-copper-drill-results-validate-high-grade-sandfire-like-copper-deposit-190055.html Castillo Copper Ltd (ASX:CCZ) has intersected sulphide mineralisation grading up to 4.5% copper in recent drilling at its Cangai Copper Mine in New South Wales.

Preliminary assays from the four hole, 436-metre reverse circulation program were gathered using a portable XRF gun.

The drilling program validates the current high-grade JORC inferred resource of 3.2 million tonnes at 3.35% copper, 20.2 g/t silver and 0.80 g/t gold.

Final lab assays remain pending and will be incorporated into a resource update.

Program developing ahead of expectations with potential for resource increase

Alan Armstrong, executive director, said: “When combined with stockpile samples of up to 18% copper and significant cobalt mineralisation, the project is developing ahead of expectations.

“As the program progresses there is significant potential for the resource size to increase materially once the drill rig begins testing between the lodes which are outside of the JORC resource.”

Exploration results provide share price momentum

Castillo Copper released data regarding five significant electromagnetic conductors at the Cangai copper mine in early January.

The identification of multiple conductors is further evidence that there could be parallels with Sandfire Resources’ (ASX:SFR) Degrussa project in Western Australia, where high-grade supergene ore oxide material sits above larger volumes of mineralised sulphides.

READ: Castillo Copper’s shares rise on discovering multiple conductors at Cangai Copper Mine

The company is reorienting the drill program and expediting an application to expand the number of drill pads in order to explore the electromagnetic conductors with a view to accelerating exploration progress.

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Tue, 16 Jan 2018 11:35:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190055/castillo-copper-drill-results-validate-high-grade-sandfire-like-copper-deposit-190055.html
<![CDATA[News - Castillo Copper’s shares rise on discovering multiple conductors at Cangai Copper Mine ]]> http://www.proactiveinvestors.com.au/companies/news/189615/castillo-coppers-shares-rise-on-discovering-multiple-conductors-at-cangai-copper-mine-189615.html Castillo Copper Ltd’s (ASX:CCZ) shares are trading circa 12% higher intra-day at $0.085 after identifying five significant electromagnetic (EM) conductors at its Cangai Copper Mine in New South Wales.

The preliminary geological interpretation suggests there is substantial incremental sulphide mineralisation at depth and outside the resource zone that exceeds the geology team’s expectations.

Meanwhile, the drilling at Cangai will recommence immediately following the Christmas and New Year break, with the results expected in the coming weeks.

READ: Castillo Copper set to begin maiden drilling program at Cangai mine

The results from the EM survey show conductors that are below or well outside the JORC modelled zone which generated an inferred resource of 107,600 tonnes copper, 2,080,100 ounces silver and 82,900 ounces gold.

Alan Armstrong, executive director, said: “The board views this development as a pivotal point in Castillo Copper’s evolution, as the EM survey has delivered an outcome that materially exceeds our expectations.

“Indeed, this new discovery is timely as the current drilling campaign moves into full swing.”

Resemblance to Sandfire Resources’ Degrussa project

This is a significant result since it is the first time a ground electromagnetic survey has been applied to the high-grade Cangai Copper Mine and surrounding areas.

Moreover, this result resembles Sandfire Resources’ (ASX:SFR) Degrussa project in Western Australia, whereby high-grade supergene ore oxide material sits above larger volumes of mineralised sulphides.

Current drilling program expanded

Given the extraordinary discovery of five new large conductors, the board has approved to expand the current drilling program.

More funds are being allocated to expand the drilling and incremental surveys to help Castillo increase the existing resource at Cangai Copper Mine.

Having recently raised >$3 million from a placement, the company has adequate funds to progress an expanded exploration program at Cangai.

READ: Castillo Copper shares surge after raising $3.4 million for copper mine in New South Wales

Castillo recently revealed more extensive cobalt mineralisation than originally envisaged at its 100% owned Broken Hill Project in New South Wales.

READ: Castillo Copper reveals extensive cobalt mineralisation at Broken Hill project

The company had sourced updated surface sampling and regional geophysical surveys as part of the current exploration program.

This incremental data highlights more extensive cobalt anomalism at surface across the tenure than previously reported.

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Mon, 08 Jan 2018 11:29:00 +1100 http://www.proactiveinvestors.com.au/companies/news/189615/castillo-coppers-shares-rise-on-discovering-multiple-conductors-at-cangai-copper-mine-189615.html
<![CDATA[News - Castillo Copper reveals extensive cobalt mineralisation at Broken Hill project ]]> http://www.proactiveinvestors.com.au/companies/news/189061/castillo-copper-reveals-extensive-cobalt-mineralisation-at-broken-hill-project-189061.html Castillo Copper Ltd’s (ASX:CCZ) desktop work has uncovered more extensive cobalt mineralisation than originally envisaged at its 100% owned Broken Hill Project in New South Wales.

The pre-site visit work conducted by the company’s geology team has revealed further evidence suggesting cobalt at surface in Broken Hill is more widespread than initially anticipated.

Meanwhile, drilling work commenced over the weekend at the Cangai Copper Mine with significant drilling already completed.

READ: Castillo Copper set to begin maiden drilling program at Cangai mine

Alan Armstrong, executive director commented: “The recent uptick in the cobalt price above US$70,000/t on the London Metal Exchange is timely given the geology team is ramping up the search for cobalt mineralisation at our Broken Hill project.

“The board looks forward to updates from the geology teams at Broken Hill and Cangai Copper Mine and will inform shareholders once news comes to hand.”

Cobalt surface occurrences at Broken Hill

Castillo has sourced updated surface sampling and compilations of regional geophysical surveys as part of the current exploration program.

This incremental data highlights more extensive cobalt anomalism at surface across the tenure than previously reported.

Notably, there are several prominent and more subtle trends, mainly north-south, and northeast to southwest across the project area.

Updated magnetic imagery uncovers new highly anomalous zones

A review of geophysical imagery for the area from the Geological Survey of New South Wales has uncovered updated airborne magnetics.

The updated magnetic imagery shows new highly anomalous zones trending south-west across the tenure, which had not been previously sampled or drilled.

Preparing for inaugural Broken Hill drilling program

The new areas uncovered by the magnetic imagery, in addition to the priority targets disclosed earlier, are now focal points for the geology team to conduct reconnaissance surface surveys.

READ: Castillo Copper targets four high grade cobalt zones

Castillo’s planned fieldwork will include works to establishing larger grid patterns over the magnetic anomalies, soil and rock chip sampling and follow up laboratory analysis.

Upon concluding the current field trip, the geology team expects to be in a position to identify key targets for the inaugural Broken Hill drilling program.

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Wed, 20 Dec 2017 15:26:00 +1100 http://www.proactiveinvestors.com.au/companies/news/189061/castillo-copper-reveals-extensive-cobalt-mineralisation-at-broken-hill-project-189061.html
<![CDATA[News - Castillo Copper set to begin maiden drilling program at Cangai mine ]]> http://www.proactiveinvestors.com.au/companies/news/188695/castillo-copper-set-to-begin-maiden-drilling-program-at-cangai-mine-188695.html Castillo Copper Ltd (ASX:CCZ) is set to commence the inaugural drilling program at its Cangai Copper Mine in New South Wales following the receipt of regulatory approvals.

The drilling campaign will comprise circa 2,250 metres reverse circulation drilling across 12-drill holes.

Significantly, this is the first step towards putting in place tangible measures to upgrade the existing copper-silver-gold deposit at Cangai and allowing for an upgraded JORC 2012 resource to be generated.

READ: Castillo Copper appoints drill contractor for Cangai program

Alan Armstrong, executive director, said: “The board is delighted to get regulatory approval to commence the inaugural drilling program at Cangai Copper Mine before Christmas.

“As the drilling team have been on standby, they have now mobilised to site and will be able to make a quick start into the JORC modelled lodes that exhibit the highest grade Cu-Ag-Au mineralisation”

Drill equipment being deployed to site

The drill equipment is currently being deployed to site with substantial work to commence pre-Christmas and continue through January.

Castillo’s initial plan will be to start drilling from DP3, given this is adjacent to the highest grade JORC modelled lodes.

Consequently, this should enable early on-site analysis, and subsequently assay results, to provide some clarity on the extent of the resource in addition to what has been JORC modelled.

Castillo’s drilling aims to expand upon the current JORC inferred resource of 3.2 million tonnes grading 3.35% copper.

Topographical and electromagnetic surveys completed

The key strategy for the drilling program is to thoroughly test the JORC modelled lodes and the extent of the mineralisation halo in order to prove that mineralisation exists between the high-grade lodes.

Furthermore, with the completion of the topographical contour and electromagnetic surveys over the main lode area, the additional information gathered will assist with 3D positioning of the drilling program.

The electromagnetic survey data is currently being modelled and will encompass near mine anomalies and depth extensions within the deeper sulphide mineralised zones.

The survey results are currently being modelled and interpreted by Newexco Services, a company which has been credited with numerous sulphide ore discoveries in Australia.

Amongst those discoveries are several high profile Australian deposits, including similar copper ore projects owned by Sandfire Resources (ASX:SFR).

READ: Castillo Copper targets four high grade cobalt zones

Castillo is planning to also ramp up cobalt exploration at its 100% owned Broken Hill Project located in New South Wales.

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Wed, 13 Dec 2017 12:58:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188695/castillo-copper-set-to-begin-maiden-drilling-program-at-cangai-mine-188695.html
<![CDATA[News - Castillo Copper targets four high grade cobalt zones ]]> http://www.proactiveinvestors.com.au/companies/news/187796/castillo-copper-targets-four-high-grade-cobalt-zones-187796.html Castillo Copper Ltd (ASX:CCZ) is planning to also ramp up cobalt exploration at its 100% owned Broken Hill Project located in New South Wales.

With the Cangai Mine exploration program being managed by Gnomic Exploration Services, the company intends to turn its exploration focus to its four primary cobalt targets.

READ: Castillo Copper focused on expanding resource at Cangai Mine

Previous cobalt samples taken within and just outside the project tenements range from 2,060 ppm cobalt to up to 7,000 ppm cobalt.

Alan Armstrong, executive director, said: “With Gnomic Exploration Services now proactively managing the drilling program at the Cangai Mine, the board will concurrently focus on investigating key cobalt anomalies at Broken Hill.

“Working with our service providers, a geological team will visit the site with the goal of expanding the four primary cobalt target areas that are already highly prospective.”

Geology team to visit site to prepare for inaugural drilling

To progress the high-level exploration strategy at these priority cobalt target areas, a contracted geology team will soon visit site.

The team will focus on mapping, taking soil samples, conduct optimal electromagnetic (EM) surveys and ultimately laying the foundations for the inaugural drilling program.

Neighbour shows area has proven cobalt mineralisation

The case to ramp up targeted cobalt exploration at Broken Hill is encouraging given the significant progress neighbour Cobalt Blue (ASX:COB) has made.

Cobalt Blue’s total resource stands at 54.9 million tonnes grading 910 ppm cobalt across three deposits.

Recently in November, Cobalt Blue detailed discovering incremental targets that can potentially extend the mineralisation and implicitly boost its resource size.

Following successful desktop studies and site visits by Castillo’s geological team, the board intends to prove up and expand the identified four primary cobalt zones.

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Mon, 27 Nov 2017 14:44:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187796/castillo-copper-targets-four-high-grade-cobalt-zones-187796.html
<![CDATA[News - Castillo Copper focused on expanding resource at Cangai Mine ]]> http://www.proactiveinvestors.com.au/companies/news/187733/castillo-copper-focused-on-expanding-resource-at-cangai-mine-187733.html Castillo Copper Ltd (ASX:CCZ) is progressing exploration plans targeting resource expansion at its Cangai Copper Mine in New South Wales.

Exploration is focused on the inaugural 2,250-metre drilling program but also includes electromagnetic (EM) and topographic surveys.

Drilling aims to expand upon the current JORC Inferred Resource at Cangai of 3.2 million tonnes grading 3.35% copper.

Access to the mine site has been completed and the pre-site drilling program has been finalised.

As soon as regulatory approval is secured, the drilling team will mobilise to site to start work.

READ: Castillo Copper appoint drill contractor for Cangai program

Castillo's geology team believe that once the inaugural drilling program has been completed, resource modelling will confirm a materially higher resource size

Having raised $3.4 million from the recent placement, Castillo is well funded to cover several drilling campaigns at Cangai Mine and its other assets moving forward.

Exploration contractors in place

Alan Armstrong, director, said: “With all service provider contracts signed-off, work on proving up the resource at the Cangai Mine has started to move forward at a rapid pace.

“The landowner has cleared the access roads to the mine site enabling the aerial drone photography and topographical surveys to get underway.

“Meanwhile, the EM surveys are scheduled to commence within days, coinciding with Castillo’s geology team’s visit to site early next week.

“Gnomic has already detailed its inaugural drilling program which is designed to determine the extent of the mineralisation halo and JORC modelled lodes on strike.

“Once regulatory approval has been granted, the drilling team can mobilise to site quickly to commence work.”

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Fri, 24 Nov 2017 11:31:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187733/castillo-copper-focused-on-expanding-resource-at-cangai-mine-187733.html
<![CDATA[News - Castillo Copper appoints drill contractor for Cangai program ]]> http://www.proactiveinvestors.com.au/companies/news/187059/castillo-copper-appoints-drill-contractor-for-cangai-program-187059.html Castillo Copper (ASX:CCZ) has appointed Gnomic Exploration Services to oversee a 2,250-metre reverse circulation drilling program at its Cangai Copper Mine in New South Wales.

This will be Castillo’s inaugural drilling campaign at Cangai which has a JORC Inferred Resource of 3.2 million tonnes at 3.35% copper.

Castillo was able to recently compile the JORC resource using historical exploration data and the upcoming campaign will aim to expand upon that resource.

There are three phases to the drilling program with the initial focus on confirming supergene ore along the unmined working sections.

READ NOW: Castillo Copper upcoming drill program has shares rising

To complement the drilling program, two separate contractors have been appointed to undertake a drone aerial photography and topographic survey and a fixed loop electromagnetic (EM) survey.

Alan Armstrong, director, commented

“Once all regulatory approvals are through, the drilling campaign will commence to determine the extent of copper-gold-silver mineralisation within and external to the JORC modelled boundary.

“At this juncture, our geologists are optimistic that there will be a material upward revision to the resource size once it is 3D modelled.

“The recent assay results support this view, as they unearthed excellent high-grade material, with gold being no exception recording up to 1.7 g/t gold.

“Moving forward, Jackaderry North will become a primary cobalt target as, encouragingly, further evidence suggests cobalt mineralisation is more widespread than initial evidence implied.”

Three phase drill program

The initial phase focuses on confirming supergene ore along the unmined working sections.

Drilling will test the along strike and width extensions of the modelled lodes as well as the mineralisation halo between the lodes.

This will determine the extent of high-grade copper mineralisation within JORC modelled boundary as well as the lower grade (1-3% copper) mineralisation along the shear zone and between the high-grade lodes as identified in the field.

Phase 2 will focus on infill resource drilling aiming to upgrade a majority of the resource to the Indicated JORC category.

The closing phase of the drilling program will utilise deeper core holes to target deeper sulphide anomalies determined by the EM survey.

Cobalt target

The Cangai Copper Mine is located within the Jackaderry Project, which also hosts emerging cobalt targets.

Further geological modelling at Jackaderry North suggests contiguous cobalt mineralisation trending in from Corazon’s (ASX: CZN) tenure.

Corazon has been progressing a drilling program at its Mt Gilmore project which returned cobalt assay results ranging from up to 2.47% cobalt.

Post the Cangai drilling program, Castillo’s geology team will place greater focus on Jackaderry North and spend more time evaluating the extent of cobalt mineralisation, which is already proven extensive at surface.

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Fri, 10 Nov 2017 15:24:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187059/castillo-copper-appoints-drill-contractor-for-cangai-program-187059.html
<![CDATA[News - Castillo Copper upcoming drill program has shares rising ]]> http://www.proactiveinvestors.com.au/companies/news/187057/castillo-copper-upcoming-drill-program-has-shares-rising-187057.html Castillo Copper (ASX:CCZ) continues to attract investor’s attention as it prepares for its inaugural drill program at the recently secured Cangai Copper Mine in northern New South Wales.

During the September quarter, Castillo completed multiple acquisitions that resulted in it owning four projects, each with multiple prospects, across New South Wales and Queensland.

The Jackaderry Project hosts the historical Cangai Copper Mine, which has a JORC Inferred Resource of 3.2 million tonnes at 3.35% copper, one of Australia’s highest grade copper resources.

After delineating Cangai’s JORC resource using historical exploration data recently in September, Castillo sees good potential for resource expansion in its maiden drilling program.

Drilling will focus on unmined working sections and the mineralisation halo within the JORC modelled boundary at Cangai.

Recent visit to Cangai reveals growth potential

A recent site visit to Cangai confirmed evidence of extensive high-grade copper mineralisation materially above initial expectations.

This significantly enhances the potential for a resource size upgrade post the upcoming inaugural drilling program.

The geological team examined legacy working sections, extensive outcropping and three ore stockpiles – all showing copper mineralisation is more extensive than initially modelled.

Early cash flow opportunity

XRF analysis confirmed high-grade copper mineralisation apparent in five historical stockpiles, showing up to 30% grades which is consistent with legacy assays.

The high-grade ore stockpile areas are early potential targets for cash flow generation, if mining operations re-commence.

Furthermore, the Cangai Copper Mine’s high-grade supergene ore is able to be shipped to Asian customers, by trucking the ore to Grafton nearby to access the railway network.

Near-term priorities at Cangai

The Castillo board has determined the following to be priorities at Cangai:

- Target extensions to higher grade lenses as potential direct shipping ore material;
- Focus on proving up and extending the defined supergene ore lodes within the resource using legacy data and an inaugural drilling program;
- Undertake a preliminary assessment of having an open pit mine, given the resource is relatively shallow and this is the most economic way to extract the ore;
- Expedite re-assaying legacy core samples for cobalt given that builds in additional upside; and
- Progress desktop work identifying other mineralised anomalous zones within the Jackaderry Project to expand the overall resource size.

Supported by a rising copper price

This is a fortuitous period to be developing a copper mine with copper prices having rebounded over 50% from their 2016 lows.

Copper is trading near to its 3-year high and investment bank, Goldman Sachs, recently increased its copper forecasts based on the outlook for global growth.

It also believes the market now faces a potential deficit next year, not the surplus it and others previously forecast.

Project portfolio

Castillo is a base metal explorer primarily focused on copper, cobalt, zinc and nickel with the bulk of its core operating assets in eastern Australia.

Its project portfolio includes:

- Jackaderry Project (100%, New South Wales): 3 prospects including the Cangai Copper Mine;
- Broken Hill Project (100%, New South Wales): 2 prospects;
- Mt Oxide Project (100%, Queensland): 3 prospects;
- Marlborough Project (under application, Queensland): 3 prospects; and
- Chilean Projects (100%).

Zinc and cobalt targets at Broken Hill Project

During September, evidence of surface mineralisation for zinc and cobalt was uncovered as part of the desktop review process at the Broken Hill Project.

Just outside the western boundary but striking into the project area, surface mineralisation grading up to 3,000ppm cobalt was been found.

Within the same anomalous zone, legacy drill-holes had intersections that contained 7,000 ppm cobalt.

The review has also uncovered multiple legacy drill holes with grades of up to 3% zinc.

Given the prices of zinc and cobalt are also very strong, generating drill targets within the Broken Hill Project will follow the Cangai drilling campaign.

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Fri, 10 Nov 2017 14:47:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187057/castillo-copper-upcoming-drill-program-has-shares-rising-187057.html
<![CDATA[News - Castillo Copper to swell one of Australia’s highest grade deposits ]]> http://www.proactiveinvestors.com.au/companies/news/185990/castillo-copper-to-swell-one-of-australias-highest-grade-deposits-185990.html Castillo Copper Ltd (ASX:CCZ) has confirmed evidence of extensive high-grade copper mineralisation materially above initial expectations at the Cangai Copper Mine in northern New South Wales.

This significantly enhances the potential for a resource size upgrade post the upcoming inaugural drilling program.

It is worth noting that the Cangai Copper Mine already has a JORC compliant inferred resource of 3.2 million tonnes at 3.35% copper – one of the highest in Australia.

Castillo’s geology team recently undertook an extended site visit to the Cangai mine.

The team examined legacy working sections, extensive outcropping and three ore stockpiles – all showing copper mineralisation is more extensive than initially modelled.

Notably, pXRF analysis confirmed high-grade copper mineralisation apparent in five historical stockpiles, showing up to 30% grades which is consistent with legacy assays.

The high-grade ore stockpile areas are early potential targets for cash flow generation, if mining operations re-commence.

Cangai Copper Mine’s high-grade supergene ore can be shipped to Asian customers, by trucking the ore to Grafton to access the railway network.

The railway network connects to Newcastle Port circa 500 kilometres south of the mine.

Castillo is now preparing to commence the inaugural drilling program, with full details to be released once finalised.

The focus of the drilling will be to prove an indicative copper resource as soon as practical.

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Mon, 23 Oct 2017 14:58:00 +1100 http://www.proactiveinvestors.com.au/companies/news/185990/castillo-copper-to-swell-one-of-australias-highest-grade-deposits-185990.html
<![CDATA[News - Castillo Copper attracts Speculative Buy from Perth broker ]]> http://www.proactiveinvestors.com.au/companies/news/185460/castillo-copper-attracts-speculative-buy-from-perth-broker-185460.html Castillo Copper Ltd (ASX:CCZ) is well-funded and is set to receive $3.4 million from a heavily oversubscribed capital raising.

Castillo’s recent exploration success has attracted a Speculative Buy from Perth broker CPS Securities. The following is an extract from the report.

Overview

CCZ is an emerging Cu-Co-Zn-Ni explorer with four highly prospective projects across NSW/QLD.

The maiden JORC compliant Inferred Resource was 3.2Mt @ 3.35% Cu for the historic Cangai Copper Mine: it contains supergene ore up to 35% Cu / 10% Zn in unmined working sections which delivers re-opening potential.

Management’s strategic intent is to define four JORC compliant resources across the project groups.

With an experienced executive team and differentiated low-capex business plan, which allows CCZ to expedite ore to market, we initiate coverage with a Speculative BUY.

Investment Highlights

Recent acquisition increases footprint.

Following the completion of a recent acquisition, CCZ now has a large mineralised footprint with 11 highly prospective Cu-Co-Zn-Ni tenures in NSW/QLD including the historic Cangai Copper Mine – with supergene ore up to 35% Cu / 10% Zn – spread across four project groups: Jackaderry and Broken Hill in NSW; Mt Oxide and Marlborough in QLD.

High-grade maiden JORC Inferred Resource at Cangai Copper Mine.

Applying high-tech 3D modelling to the Cangai Copper Mine (within Jackaderry) using legacy data, resulted in an exceptionally high-grade maiden JORC compliant Inferred Resource of 3.2MT @ 3.35% Cu being generated ; this is arguably one of the highest-grade Cu resources in Australia with contained Cu of circa 108,000Mt – a clear re-opening candidate for the unmined working sections.

Direct shipping of ore to generate higher margins.

Leveraging excellent existing transportation infrastructure, supergene ore from Cangai Copper Mine potentially enables CCZ to directly ship ore to key north Asian markets via Newcastle Port.

This avoids large-scale capital expenditure and enables CCZ to quickly monetise the current base-metal upcycle.

This is clearly CCZ’s most differentiated selling point.

Targeting three additional incremental JORC compliant Inferred Resources.

Post Cangai, the next target is to use cost effective legacy data where possible (otherwise it requires drilling) to JORC model significant high-grade zinc and cobalt mineralisation areas in the Broken Hill Project.

Two more JORC compliant Inferred Resources for the Mt Oxide (Cu-Co) and Marlborough (Ni-Co) projects will progress post the inaugural drilling program, which will commence at Cangai Copper Mine before year-end.

Valuation

Factoring in the start of a base metal upcycle and comparing the market capitalisations of similar Cu-Co-Zn-Ni ASX-listed stocks, especially Corazon (CZN; MC: $24m) which owns 51% of the tenement directly adjacent to the Jackaderry Project, CCZ’s current market capitalisation ($20m) is undemanding.

Furthermore, when building in incremental exploration and resource size upside across the four project groups, CCZ’s undervaluation argument relative to peers becomes far more compelling:
Speculative Buy.

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Thu, 12 Oct 2017 09:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/185460/castillo-copper-attracts-speculative-buy-from-perth-broker-185460.html
<![CDATA[News - Castillo Copper shares surge after raising $3.4M for copper mine in New South Wales ]]> http://www.proactiveinvestors.com.au/companies/news/184011/castillo-copper-shares-surge-after-raising-34m-for-copper-mine-in-new-south-wales-184011.html Castillo Copper Ltd (ASX:CCZ) has raised $3.4 million via a share placement at $0.032 per share to progress its Cangai Copper Mine in New South Wales.

The company’s shares closed circa 21% higher on Thursday, at $0.041.

The offer was heavily oversubscribed with significant participation from current shareholders, in addition to new high net worth and Institutional investors from Hong Kong, Singapore and Australia.

Castillo Copper’s initial focus will be on proving a commercially scalable resource within and surrounding the historic Cangai Copper Mine.

Interestingly, the project already has a JORC inferred resource of 3.2 million tonnes at 3.35% copper from legacy data with key drilling targets already identified.

The work at Cangai is to be followed by the works at the Jackaderry project, Broken Hill project, Mt Oxide project and Marlborough projects.

Castillo’s Australian assets were acquired outright in mid-2017, comprising six highly prospective copper-cobalt-zinc project areas in New South Wales and Queensland.

The company’s wholly-owned Chilean assets comprise of exploration concessions across a total area of 1,800 hectares that are well known for high grade copper-gold projects.

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Fri, 15 Sep 2017 08:35:00 +1000 http://www.proactiveinvestors.com.au/companies/news/184011/castillo-copper-shares-surge-after-raising-34m-for-copper-mine-in-new-south-wales-184011.html
<![CDATA[News - Castillo Copper heads to market following positive re-rating ]]> http://www.proactiveinvestors.com.au/companies/news/183787/castillo-copper-heads-to-market-following-positive-re-rating-183787.html Castillo Copper Ltd's (ASX:CCZ) shares last traded at $0.034, or around double their valuation from two-months ago, as the company has received a positive re-rating on the back of a rising copper price.

Castillo has now taken the opportunity to head to market and raise capital, with the ASX granting a trading halt to do so.

The halt will remain in place until the opening of trade on Thursday 14th September 2017, or earlier if an announcement is made to the market.

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Tue, 12 Sep 2017 10:57:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183787/castillo-copper-heads-to-market-following-positive-re-rating-183787.html
<![CDATA[News - Castillo Copper acquiring new projects to expand its mineralised footprint ]]> http://www.proactiveinvestors.com.au/companies/news/182898/castillo-copper-acquiring-new-projects-to-expand-its-mineralised-footprint-182898.html Castillo Copper Ltd (ASX:CCZ) is expanding its mineralised footprint across New South Wales and Queensland by acquiring a private company which owns cobalt, copper, zinc and nickel assets.

Castillo’s existing assets, which were acquired outright in mid-2017, comprise six highly prospective copper-cobalt-zinc project areas in New South Wales and Queensland.

Following the acquisition, Castillo will own 11 project areas in four geographic locations.

This will include Jackaderry (three prospects); Broken Hill (two); Mt Oxide (three) and Marlborough (three).

Importantly, this includes the historic Cangai copper-cobalt mine within the Jackaderry South prospect, where legacy data confirms the presence of supergene ore with up to 35% copper.

The acquisition will result in the doubling of the key Jackaderry South project area that houses the Cangai Mine.

The shareholders of the private company will receive 15 million shares of Castillo and a net smelter return royalty of 3% as consideration for the transaction

Castillo’s objective is to prove up to three JORC inferred resources starting with Cangai mine, then Broken Hill and finally Mt Oxide project later in the year.

The company’s share price has almost doubled in the past one month and is currently trading at $0.041.

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Thu, 24 Aug 2017 13:09:00 +1000 http://www.proactiveinvestors.com.au/companies/news/182898/castillo-copper-acquiring-new-projects-to-expand-its-mineralised-footprint-182898.html
<![CDATA[News - Castillo Copper readies to pounce on acquisition ]]> http://www.proactiveinvestors.com.au/companies/news/181100/castillo-copper-readies-to-pounce-on-acquisition-181100.html Castillo Copper Ltd (ASX:CCZ) has entered an ASX trading halt today, pending details of a material acquisition.

Earlier in the month Castillo completed the acquisition of Qld Commodities Pty Ltd, a company which holds three highly prospective cobalt-copper-nickel project areas in New South Wales and Queensland.

The halt will remain in place until the opening of trade on Friday 21st July 2017, or earlier if an announcement is made to the market.

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Wed, 19 Jul 2017 12:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/181100/castillo-copper-readies-to-pounce-on-acquisition-181100.html
<![CDATA[News - Castillo Copper to acquire cobalt and copper projects ]]> http://www.proactiveinvestors.com.au/companies/news/175259/castillo-copper-to-acquire-cobalt-and-copper-projects-175259.html Castillo Copper (ASX:CCZ) has entered into a binding heads of agreement to acquire 100% of Australian copper and cobalt company Qld Commodities Pty Ltd (QComm).

QComm has 3 applications targeting high grade copper and cobalt systems in New South Wales and Queensland.

Kungabaran ELA 5446 is an application for an exploration licence covering 153 square kilometres prospective for copper and cobalt in the New England Orogen of New South Wales.

Peak Hill ELA 5447 is an application for an exploration licence covering 57 square kilometres prospective for copper and cobalt 16 kilometres southwest of Broken Hill in New South Wales.

Mt Oxide EPM 26462 is an exploration permit covering 214 square kilometres prospective for copper and cobalt in the Mt Isa region of northwest Queensland.

Shares and performance rights to be issued to QComm shareholders as consideration for the proposed acquisition will comprise 21.5% of the expanded issued capital of Castillo.

To assist the company complete the proposed acquisition, Castillo will undertake a placement of at least 33.3 million shares priced at $0.015 to raise at least $500,000.

Castillo will also seek shareholder approval to issue up to 66.6 million shares priced at $0.015 pursuant to a capital raising to raise a further $1 million.

Shares in Castillo are trading up 45% in 2017, currently priced at $0.019.

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Thu, 23 Mar 2017 12:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/175259/castillo-copper-to-acquire-cobalt-and-copper-projects-175259.html
<![CDATA[News - Castillo Copper takes advantage of rising shares ]]> http://www.proactiveinvestors.com.au/companies/news/169916/castillo-copper-takes-advantage-of-rising-shares-169916.html Castillo has taken advantage of the recent investor interest, and is heading to market with a capital raising.

The halt will remain in place until the opening of trade on Wednesday 7th December 2016, or earlier if an announcement is made to the market.

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Mon, 05 Dec 2016 09:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/169916/castillo-copper-takes-advantage-of-rising-shares-169916.html
<![CDATA[News - This company is up 200% today ]]> http://www.proactiveinvestors.com.au/companies/news/134164/this-company-is-up-200-today-61992.html Monday’s ASX % Gainers at midday.

NameCodeLastChangeVolume Castillo Copper ASX:CCZ $0.003 200% 22,450,000 Byte Power Group ASX:BPG $0.002 100% 600,000 Ephraim Resources ASX:EPA $0.003 50% 1,660,020 Cockatoo Coal ASX:COK $0.003 50% 1,680,000 Resource Mining Corporation ASX:RMI $0.003 50% 498,683 Promesa Limited ASX:PRA $0.007 40% 4,087,848 Gulf Industrials ASX:GLF $0.012 33.3% 8,250,346 Australian Mines ASX:AUZ $0.008 33.3% 3,324,556 Northern Manganese ASX:NTM $0.013 30% 178,448 Korab Resources ASX:KOR $0.065 25% 197,600

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 27 Apr 2015 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/134164/this-company-is-up-200-today-61992.html
<![CDATA[News - Castillo Copper finds evidence of porphyry copper at Chile Project ]]> http://www.proactiveinvestors.com.au/companies/news/134163/castillo-copper-finds-evidence-of-porphyry-copper-at-chile-project-53978.html Castillo Copper (ASX: CCZ) has intersected extensive hydrothermal alteration and mineralisation in all three holes drilled at its Posada Copper Project in Chile, successfully testing a 4 kilometre by 1 kilometre geophysical anomaly.

Despite this, the large extent of the alteration and occurrence of copper and gold in the drill core, and the size of the geophysical anomaly has led to the interpretation that the intercepts are peripheral to an important porphyry copper occurrence.

This interpretation is consistent with the presence of Mesozoic age porphyry copper deposits in the Coastal Ranges of Chile, many of which overprint IOCG assemblages, such as Inca de Oro and Carmen, north of Copiapo.

Castillo will now carry out the next phase of deep drilling to definitively intercept the copper mineralisation.

This will target magnetic features associated with the main induced polarisation anomaly.

Castillo's other Chilean projects, Resguardo and Rio Rocin, are prospective for porphyry and supergene copper mineralisation.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 28 Mar 2014 17:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/134163/castillo-copper-finds-evidence-of-porphyry-copper-at-chile-project-53978.html
<![CDATA[News - Castillo Copper kicks off iron ore-copper-gold drilling in Chile ]]> http://www.proactiveinvestors.com.au/companies/news/134162/castillo-copper-kicks-off-iron-ore-copper-gold-drilling-in-chile-52119.html Castillo Copper (ASX:CCZ) has commenced drilling at its Posada Copper Project in Chile to test a 1 kilometre by 4 kilometre geophysical target previously identified that it had previously identified.

Two diamond holes, each to 250 metres depth, are being drilled at Posada, the second of three Castillo properties to be drill tested this field season.

The project covers 6,100 hectares on the northern Chilean copper-iron belt, and exploration work by Castillo has focused on identification of iron oxide copper gold targets hosted within the Mesozoic arc volcanics.

Castillo's other Chilean projects, Resguardo and Rio Rocin, are prospective for porphyry and supergene copper mineralisation.

The company also controls exploration properties in New South Wales, and is capitalised at $3 million.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 22 Jan 2014 14:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/134162/castillo-copper-kicks-off-iron-ore-copper-gold-drilling-in-chile-52119.html
<![CDATA[News - Castillo Copper kicks off copper drilling at Resguardo, Chile ]]> http://www.proactiveinvestors.com.au/companies/news/134161/castillo-copper-kicks-off-copper-drilling-at-resguardo-chile-51177.html Castillo Copper (ASX: CCZ) has commenced drilling to test a previously identified breccia pipe for high grade copper mineralisation at depth at its Resguardo project in Chile.

This is the first of its three properties to be drill tested this field season, with two reverse circulation holes to around 250 metres depth.

Prior to the commencement of the drilling program, historic open cut and underground workings were surveyed and sampled for copper.

Assay results from this sampling are pending and will be complementary to drilling.

Phase one exploration was completed earlier this year, comprising geological mapping and geochemical sampling to expand the metallogenic and alteration footprint of the copper breccia pipe and surrounding area.

Ground magnetics were also used to clarify the structural setting.

Castillo boasts three advanced drill ready copper exploration properties in Resguardo, Rio Rocin and Posada, all in Chile.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 16 Dec 2013 12:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/134161/castillo-copper-kicks-off-copper-drilling-at-resguardo-chile-51177.html
<![CDATA[News - Castillo Copper raises $3.5M for Chile copper drilling ]]> http://www.proactiveinvestors.com.au/companies/news/134160/castillo-copper-raises-35m-for-chile-copper-drilling-48594.html Castillo Copper (ASX: CCZ) has raised $3.5 million through a fully subscribed placement of 350 million shares to fund drilling at its copper projects in Chile.

Funds will also be used to make legal title and option payments for the projects as well as repay loans.

The company has selected three projects for advanced studies and one at a basic level:

-    Posada, an IOCG project in the copper-iron belt of the Atacama Fault Zone in Northern Chile;
-    Rio Rocin, a porphyry copper project in the highly productive Central Zone of Chile;
-    Resguardo, a porphyry copper project associated with the lower Tertiary porphyry copper belt of Northern Chile; and
-    Quebrada Huanta, porphyry copper-gold prospect near La Serena in Central Chile.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 30 Sep 2013 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/134160/castillo-copper-raises-35m-for-chile-copper-drilling-48594.html
<![CDATA[News - Castillo Copper targets $3.5m for copper exploration in Chile ]]> http://www.proactiveinvestors.com.au/companies/news/134159/castillo-copper-targets-35m-for-copper-exploration-in-chile-47262.html Castillo Copper (ASX:CCZ) has signed a lead manager on a best endeavours basis to place 350 million shares at $0.01 to raise $3,500,000 before costs.

Funds raised will be used to advance the company’s copper projects in Chile. Drilling programs are planned on two projects with targets to be defined by geophysics for immediate execution.

Funds raised will also allow evaluation of new acquisition opportunities. CCZ is currently examining three priority projects.

These include:

- Posada, an IOCG project in the copper-iron belt of the Atacama Fault Zone in Northern Chile;
- Rio Rocin, a porphyry copper project in central Chile; and
- Resguardo, another copper project in the lower Tertiary porphyry copper belt of Northern Chile.

The capital raising is subject to shareholder approval.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 28 Aug 2013 13:10:00 +1000 http://www.proactiveinvestors.com.au/companies/news/134159/castillo-copper-targets-35m-for-copper-exploration-in-chile-47262.html
<![CDATA[News - Castillo Copper raises funds for Chile quest ]]> http://www.proactiveinvestors.com.au/companies/news/134158/castillo-copper-raises-funds-for-chile-quest-46823.html Castillo Copper (ASX: CCZ) has set its sights on drilling in the spring and summer of 2013/14 at its Chilean properties, with the company now raising funds for the program.

The ASX this morning has granted Castillo a trading halt, with its shares placed in pre-open.

Castillo has already completed geophysical exploration on the Rio Rocin porphyry copper project in central Chile, which consists of 4,650 hectares of concessions located around 140 kilometres north of Santiago in the San Felipe Province of the Valparaiso Region.

The project is on the same structural trend that hosts giant porphyry copper mines such as El Teniente (Codelco), Los Bronces (Anglo American), Andina (Codelco) and Los Pelambres (Antofagasta Minerals).

The trading halt will last until the earlier of an announcement being made to the market, or the opening of trade on Tuesday 20th August 2013.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 16 Aug 2013 11:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/134158/castillo-copper-raises-funds-for-chile-quest-46823.html