Ann: Supergene Ore Confirmed At Cangai Copper Cobalt Mine, page-9

I received just received the latest  "Rats Rant" edition and it looks like CCZ and its wholly owned Cangai mine is starting to get some recognition. Here's the write up -

CCZ - Castilla Copper Limited today closed up 11% to finish at 3c o n $1m stock traded. The reason they are up today is because they have confirmed High Grade Supergene Ore Confirmed At Cangai Copper Cobalt Mine.

Some commentary from a broker mate of mine who we will call MST to keep him anonymous is below along with some details on today's news.

Castillo Copper (CCZ:ASX) desktop review uncovers significant results at Cangai Copper Cobalt Mine:

• 20% to 35% copper in supergene ore – occurred close to surface and passed into chalcocite with a similar grade below surface
• Importantly, supergene ore was present in both sediments and dykes
• Up to 10% zinc recorded
• Presence of cobaltite in primary ore explains elevated cobalt levels

What next?

CCZ aim to prove up 3 JORC Inferred Resources:

• 2 of which can be modelled from legacy data expediting the process
• Inaugural drill program (starting in spring) expected to generate the third

This is a significant announcement today - the Cangai Copper Cobalt mine is ticking a lot of boxes and to now have Supergene ore is a tremendous confirmation

Highlights from the announcement are listed below:

High Grade Supergene Ore Confirmed At Cangai Copper Cobalt Mine

• Desktop review uncovered CRA Exploration results from 1990-92 whole rock samples from the Cangai Copper Cobalt Mine which were up to 35% copper in supergene ore sample, 10% zinc and elevated cobalt levels
• Mine records confirm supergene ore occurred with azurite and malachite ore grading at 20% to 35% copper; this occurred close to the surface and passed into chalcocite ore, of similar grade, below surface
• Importantly, supergene ore was present in both sediments and dykes
• Further, historic drill core from the mine – held by the NSW Resources and Energy department – has been inspected by ROM Resources and is now being prepared to be assayed
• New assays will target high grade cobalt-copper-zinc and assist materially with JORC resource modelling
• Contiguous mineralisation at Peak Hill/Total and Big Oxide North/Hill of Grace prospects enhances resource target
• Share sale agreement executed with Total Minerals vendors with conditions expected to be satisfied shortly
• Notably, due process finalised and confirms new project areas highly prospective for cobalt-copper-zinc Ø Core objective remains to prove up three JORC compliant Inferred Resources as quickly as possible

Castillo Copper’s new management team, Alan Armstrong and Neil Hutchison, jointly commented: “We are delighted to have joined Castillo Copper at an exciting time, with cobalt demand remaining robust and copper/zinc on a cyclical uptick. Closing the Total acquisition is timely, as it provides Castillo Copper with a sizeable mineralised footprint across NSW/QLD and realistic prospects of generating three scalable JORC compliant Inferred Resources for cobalt, copper and zinc. Our immediate focus is to review all geological studies for the six project areas, prioritise the exploration plan, progress JORC modelling for the NSW prospects and expedite executing the business plan given the current favourable outlook globally for cobalt-copper-zinc.”