Castillo Copper Ltd (ASX:CCZ, LON:CCZ) has welcomed assays received for the Reefs Tank and Fence Gossan prospects across the central part of the BHA Project’s East Zone to the east of Broken Hill in Far West New South Wales.
All assays returned to date from Reefs Tank, Fence Gossan and Tors Tank highlight that the rare earth element (REE) mineralisation is extensive and shallow.
These results complement known REE mineralisation at the Iron Blow prospect – 8 metres at 1,460 parts per million (ppm) total rare earth oxides (TREO) from 150 metres – identified from assays of historical drill core.
REEs widely apparent
The new assays for Reefs Tank and Fence Gossan were positive for TREO, confirming for the company that REEs are more widely apparent across the East Zone than it previously thought.
Results from Fence Gossan include:
- 11 metres at 1,078 TREO from 8 metres;
- 20 metres at 609 ppm TREO from surface, including 4 metres at 1,709 ppm rare earth oxides from 8 metres; and
- 11 metres at 862 ppm TREO from 58 metres.
The company will release final insights and interpretations once assays for Reefs Tank and Tors Tank are back.
All four drill holes at the Tors Tank prospect returned shallow barium and iron assays, with the best intersections up to:
- 13 metres at 6,388 ppm barium including 4 metres at 10,000 ppm barium; and
- 19 metres at 38% iron from 16 metres.
What now?
The board is now progressing further work to fully delineate the REE potential within the BHA Project’s East Zone, including:
- a 20-metre bulk sample – mostly clay and weathered pegmatite from Fence Gossan – will undergo metallurgical test-work to liberate contained REE;
- a hand auger surface sampling campaign, starting at Fence Gossan, to determine the full scale of REE mineralisation and generate test-drill targets; and
- mapping, surface sampling and drilling campaign for the Iron Blow prospect.
“The board is delighted with the new assays as they show consistent shallow REE mineralisation across a wide part of the BHA Project’s East Zone,” Castillo Copper chairman Ged Hall said.
“Moreover, the interpreted scale of this shallow REE discovery, within a mining-friendly district, is an outstanding result which has the potential to create significant value for shareholders.”