Castillo Copper Ltd (LSE:CCZ, ASX:CCZ) has the green light to start drilling imminently at the BHA Project’s East Zone near Broken Hill, following approval from the New South Wales Resources Regulator (NSWRR).The logistics and drilling teams are now preparing to deploy to site so work can get underway. The campaign consists of one diamond core and 17 RC drill holes for 2,100 metres across four prospects – Sisters, Reefs Tank, Tors Tank and Fence Gossan.Two drill holes will test for cobalt-copper-rare earth elements (REEs) at Sisters, while at the other three prospects – which are the main focus of the campaign – the company will drill 16 holes to test for cobalt-copper-gold-silver.Lower cobalt-rich zonesA key objective for the Fence Gossan, Reefs Tanks and Tors Tanks prospects is to drill deep enough to potentially intersect two lower cobalt-rich zones that are interpreted to host higher grade mineralisation than has been modelled to date.Above all, the board hopes to extend known mineralisation while enhancing confidence in and grade of the current global mineral resource estimate (MRE) of 21,556 tonnes cobalt (64 million tonnes at 318 ppm cobalt and 44,260 tonnes copper (63 million tonnes at 0.07% copper).“With all the necessary regulatory approvals now secured from NSWRR, the drilling and logistic teams are readying to mobilise to site,” Castillo Copper managing director Dennis Jensen said.“The board’s key objective from this upcoming campaign is to extend known mineralisation across the four prospects undergoing drill-testing as well as boost the confidence and grade of the current cobalt-copper MRE.” QUOTE COB will be watching progress with great interest as CCZ drill program begins. The resource if proven in the future will be a real benefit to the overall supply in Broken Hill, obviously the processing plant would be very attractive being in the neighbourhood. Interesting how this will play , would be win /win outcome to both companies IMO.
COB Price at posting:
75.5¢ Sentiment: Buy Disclosure: Held
