Castillo Copper Ltd (LSE:CCZ, ASX:CCZ) has zeroed in on rare earth element (REE) potential at the Broken Hill Alliance (BHA) Project’s East Zone in Far West New South Wales, where the company is reviewing historical assays and geophysical data that has generated several viable targets for drill testing.
The company intends to focus its attention on the Iron Blow prospect, having re-interpreted data from geophysical survey campaigns completed in 2000, 2001 and 2017 to identify several bedrock conductors prospective for mineralisation.
A re-assay of diamond core DD90_1B3 from this area (sourced from the company’s drill core library) returned notable total rare earth oxide (TREO) results over a 35-metre intersection, including:
- 8 metres at 1,460ppm TREO from 150 metres;
- 12 metres at 297ppm TREO from 199 metres;
- 6.4 metres at 290ppm TREO from 189 metres; and
- 4.8 metres at 311ppm TREO from 232 metres.
CCZ’s geology team intends to retest more of the same drill core for further REE mineralisation.
Enhanced exploration potential
“Re-assaying the historical diamond drill core for REEs has been a game changer that significantly enhances the Iron Blow Prospect’s exploration potential,” Castillo Copper managing director Dr Dennis Jensen said.
“More significantly, the geophysical interpretations deliver prime targets, which potentially host mineralisation, for drill testing.”
Apart from REE mineralisation, Castillo has also observed coincident base metal and cobalt mineralisation in an outcropping sulphide gossan zone.
Assays from this area average (in parts per million or ppm) 2,550ppm copper, 617ppm zinc and 208ppm lead with peak values reaching 9,200ppm copper, 2,500ppm zinc, 9,400ppm lead and 350ppm cobalt.
CCZ’s board has earmarked Iron Blow as the next priority target to drill test, provided the current drilling campaign produces no unexpected results.
Nine holes have been nominated for an initial round of REE exploration.