Sign up Australia
Proactive Investors - Run By Investors For Investors

Castillo Copper appoints drill contractor for Cangai program

Drilling will commence once regulatory approvals have been sought.
Map of Australia showing project locations
Cangai is one of Australia’s highest grade copper resources

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.

View full CCZ profile View Profile

Castillo Copper Ltd Timeline

CN Research
September 11 2018

Related Articles

Zinc in periodic table
April 18 2018
The report was prepared by CSA Global under contract to SLR Consulting Ireland ...
site map
July 17 2018
West Musgrave Project is the largest undeveloped nickel-copper project in Australia.
July 23 2018
Savannah Resources has a broad portfolio of assets, including some highly attractive lithium

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use