Castillo Copper Ltd’s (CCZ) Board has announced that initial due diligence – reviewing site visit geological reports arranged by the Vendor Group – on the Litchfield Lithium Project in the Northern Territory has highlighted significant pegmatite outcropping along the north-west boundary. This is contiguous to Core Lithium’s (CXO) Finnis Lithium Project which has JORC compliant ore reserves (7.4 million t at 1.3% lithium oxide [Li2O]).
As already highlighted (refer new release dated 29 September 2021), satellite imagery has verified the geology along the Litchfield Lithium Project’s north-west boundary is comparable to CXO’s ground. The Vendor Group’s geological consultant conducted intensive surface sampling across four target areas within the NW quadrant, taking 657 samples to determine the potential for contiguous mineralisation. The sampled areas mostly comprised metamorphic rocks linked to the Burrell Creek formation – a host rock for the regional occurrences of pegmatites. The samples are at the laboratory undergoing further analysis, with results slated to be received in coming weeks.
- For the lithium projects, the initial focus will be on the following areas:
- Ongoing due diligence for Picasso and Litchfield Lithium Projects, including return of assay results for surface sampling campaigns.
- In Queensland, the following is set to take place over the coming weeks:
- Commencement of drilling at the Arya Prospect.
- There are several ongoing steps for the Zambia operations, including:
- Complete the IP survey at the Luanshya and Mkushi Projects then analyse the results for incremental targets for test-drilling.
- Commence work on the inaugural drilling campaign for the Luanshya Project.
CCZ’s Managing Director, Simon Paull, commented: “Initial due diligence at the Litchfield Lithium Project is off to an excellent start, with demonstrable photographic evidence of pegmatite outcropping along the western boundary. The Board now awaits the outcome of assay results which will determine the potential for contiguous mineralisation with CXO’s Finniss Lithium Project. In the meantime, our team’s efforts are now focused on commencing the inaugural drilling campaign at the Arya Copper Prospect in the Mt Isa copper belt.”
Read the article online at: https://www.globalminingreview.com/exploration-development/11102021/castillo-copper-provides-litchfield-lithium-project-update/