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Castillo Copper announces Broken Hill MRE

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Global Mining Review,

Castillo Copper Ltd (CCZ) has announced a maiden mineral resource estimate (MRE) to the JORC (2012) Code for the Broken Hill Project’s East Zone of 64 million t at 318 ppm cobalt (Co) for 21 556 t contained cobalt metal at relatively shallow depths (2 – 80m). Furthermore, the global MRE has 44 260 t (63 million t at 0.07% copper [Cu]) of contained copper metal that enhances the result.

Castillo Copper’s Managing Director, Dr Dennis Jensen, commented: “After a Herculean effort, CCZ’s geology team has modelled a maiden cobalt inferred mineral resource of 21 556 t at relatively shallow depths. More encouragingly, there is considerable potential to extend known mineralisation with targeted drilling campaigns. With strong global demand for cobalt clearly apparent, the Board intends to meet with prospective off-take partners eager to secure supply chains. In addition, CCZ plans to actively participate in the NSW government’s critical minerals initiative.”

Next steps

With a maiden cobalt MRE now defined, the Board has several concurrent priorities including:

  • Infill and extend the known cobalt MRE with a focused drilling campaign.
  • Opening discussions with prospective off-take partners.
  • Start to actively participate in the NSW government’s critical minerals strategy.

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This article has been tagged under the following:

Australian mining news Copper mining news Cobalt news