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Castillo Copper provides Picasso Lithium update

Published by , Editor
Global Mining Review,


Castillo Copper Ltd’s (CCZ) Board has announced that the the geology team had a successful field trip to the Picasso Lithium Project, confirming a 10 km zone of pegmatites in the tenure’s north-east quadrant. The Picasso Lithium Project is in a lithium rich region, with the Mt Marion and Bald Hill Mines being located within 120 km to the north-west of the tenure. Moreover, the Picasso Lithium Project is proximal to LTR’s Buldania Project which has a JORC compliant resource at 14.9 million t at 0.97% Li2O.

CCZ’s Managing Director, Simon Paull, commented: “The geology team’s visit to the Picasso Lithium Project delivered encouraging news, confirming that a 10 km zone of pegmatites is apparent in the tenure’s north-east quadrant. The Board’s preliminary conclusion, based on due diligence undertaken to date, is the Picasso Lithium Project is prospective for lithium mineralisation and delivers significant incremental exploration potential.”

Highlights

  • CCZ’s geology team spent several days at the Picasso Lithium Project – mapping and collecting samples – focusing on the high-density corridor, resulting in the following determinations:
  • An approximately 10 km zone of pegmatite occurrences was confirmed in the north-eastern part of the tenure, which significantly exceeds government mapping.
  • The observed pegmatites are potentially related to lithium mineralisation which enhances prospectivity of the tenure’s north-eastern quadrant.
  • Due diligence for the Litchfield Lithium Project is progressing with the laboratory expected to return assays within 2 – 3 weeks.

Field trip findings

CCZ’s geology team undertook considerable mapping across the Picasso Lithium Project, though much of the time was focused on the tenure’s north-east quadrant where the high-density pegmatite corridor is located.

Encouragingly, an approximately 10 km zone of pegmatite occurrences was confirmed in the tenure’s north-east quadrant which is the best exposed part of the Picasso Lithium Project. Notably, the pegmatites potentially host lithium mineralisation though this is subject to further investigation.

There are several areas of outcropping basement where granite is the dominant rock type. Interestingly, there is potential to discover further pegmatites across the tenure as there is significant shallow sand cover.

Next steps

For the lithium projects:

  • Ongoing due diligence for the Picasso and Litchfield Lithium Projects.

In Queensland:

  • Further updates on drilling campaign at the Arya Prospect.

In Zambia:

  • Update on IP survey at the Mkushi Project.
  • Commence work on the inaugural drilling campaign for the Luanshya Project.

Read the article online at: https://www.globalminingreview.com/exploration-development/24112021/castillo-copper-provides-picasso-lithium-update/

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This article has been tagged under the following:

Australian mining news Lithium mining news Copper mining news