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Castillo Copper Ltd on Tuesday announced it has finalised its targets for its upcoming drilling campaign at the BHA Project's East Zone, located near Broken Hill in New South Wales.
The Perth, Australia-based exploration company focused on copper across Australia and Zambia, will drill at the East Zone which comprises one diamond core and 17 reverse circulation drill holes, with depths ranging from 100 meters to 160 meters. Castillo has designated two drill-holes for its Sisters Prospect, and the remainder will be for its Fence Gossan and Reefs & Tors Tanks prospects.
The objective of the campaign is to extend known mineralisation for cobalt, copper, rare earth elements and gold, as well as to increase confidence in the current mineral resource estimate and enhance the cobalt grade.
Castillo said it has secured land-holder approval and mapped out access routes. Preparations are underway as the board will appoint a drilling contractor and announce a start date once Castillo has secured regulatory approval for the campaign.
Managing Director Dennis Jensen said: ‘The board's strategic intent with the upcoming drilling campaign is to extend known cobalt mineralisation as well as enhance the confidence and grade of the current [mineral resource estimate]. Further, with the geology team having undertaken extensive due diligence across the East Zone, the board is confident the targets selected for test-drilling should significantly deepen our understanding of the underlying system.’
Shares in Castillo Copper were up 3.0% at 0.85 pence each in London on Tuesday afternoon.
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