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Castillo Copper Ltd - Perth, Australia-based exploration company focused on copper across Australia and Zambia - Says ongoing work on geological model has uncovered new cobalt assay results for 20 shallow drill-holes at the defined target area that hosts the Tors & Reef Tank prospects at the Broken Hill Alliance project in New South Wales. These were not in the geological survey of New South Wales database. The new results will be codified and then added to the 6,380 drill holes, which are being factored into the geological model, it notes.
Chief Executive Officer Dennis Jensen says: ‘Discovering the new assay results is positive news, as it reinforces there is potentially significant cobalt mineralisation apparent within the defined target area. More than ever, the board is optimistic there is ample data to model up a primary cobalt mineral resource estimate that complies with the JORC (2012) code.’
Current stock price: 1.20 pence
12-month change: down 49%
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