CCZ 0.00% 0.4¢ castillo copper limited

Ann: Initial drilling and sampling results at Cangai, page-49

  1. 4,420 Posts.
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    I'll think you'll notice the language has changed subtly but noticeably. This from the December 13 announcement clearly says they are drilling DP3 because it's next to the main lode that they want to test the extent to which it exceeds the JORC modeled resource.

    "The initial plan will be to start drilling from DP3 (Figure 1), given this is adjacent to the highest grade JORC modelled lodes. Consequently, this should enable early pXRF analysis, and subsequently assay results, to provide some clarity on the extent of the resource in addition to what
    has been JORC modelled (3.2Mt @ 3.35% Cu; 0.8g/t Au and 20.2g/t Ag)."

    But then the results show that the modeling is accurate and that further drilling is required to expand the resource.

    "Further, the team was able to confirm the veracity of the current JORC compliant inferred resource (3.2Mt @ 3.35% Cu; 20.2 g/t Ag; 0.80 g/t Au) and the potential for significant resource size upside by drill testing in between the lodes."

    If you look back at the diagram showing the planned drilling they were aiming to drill between the lodes, but I think their drilling programme was cut short in three of the four holes by intersecting workings which prevented the cores from being brought to the surface.

    "Sample recovery was generally 90-100% for each metre except when mining
    cavities (workings >5m wide) were intersected. Circulation and sample was lost IN CRC002 &3, and these holes terminated in workings, but CRC004 was able to progress to planned depth, despite the fact that the three workings intersected were 2 metres wide, in each instance. Drill recovery was lower through this zones."

    So really drillhole CRC2 had no results and CRC3 had just the one sample, and lucky too showing 2.1-4.5% Cu because CRC3 &4 showed 1% Cu.

    CCZ drilled their best bet first in my view and it hasn't revealed anything new. Not to say there isn't additional resource. Just its not been discovered... Yet. I still think it's a good gamble and think it's good buying at 7c.
    Last edited by DoubleDown!: 17/01/18
 
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