Castillo identifies polymetallic upside, expands on its cobalt focus
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Castillo Copper Limited’s (ASX:CCZ) has reported that rock-chip assay results from the Broken Hill project infer polymetallic mineralisation potential, building on the company’s initial cobalt focus.
Factoring in historic assay results of up to 17.7% zinc, 12% copper, 8.2% lead and 1,200ppm cobalt, and changing market dynamics, CCZ has broadened its focus at the project to polymetallic mineralisation.
A follow-up site visit by the geology team to the “Area 1” prospect, which is on the western border of the Broken Hill project, indicate the ground has potential for polymetallic mineralisation, and therefore warrants further scrutiny.
Assays from 106 rock-chip samples from outcropping Himalaya Formation returned excellent results with up to 1440ppm cobalt and 23,700ppm copper within an anomalous zone within the “Area 1” prospect, as outlined in the map below.
With fewer than 500 historic surface geochemistry samples located across CCZ’s entire tenure (117km2), which remains largely underexplored, there is upside potential to discover ore-grade polymetallic mineralisation.
From here, CCZ’s next steps involve a field trip to commence incremental detailed mapping and further surface sampling across known and prospective targets in order to boost the geology team’s understanding of the polymetallic mineralisation potential within the tenure.
CCZ Chairman Peter Meagher commented: “The rockchip assay results from the “Area 1” prospect, especially 1,440ppm cobalt and 23,700ppm copper, clearly underscore the potential exploration upside for polymetallic mineralisation.
“Having reviewed legacy assays and changing market dynamics, the Board has decided to broaden the exploration focus at Broken Hill from cobalt to include copper, zinc and lead mineralisation, given CCZ has full mineral rights and owns the tenure outright.
“As such, further site visits will be undertaken by the geology team to identify prospective areas for polymetallic mineralisation. However, this will not distract the Board from its current core strategic objective to re-open Cangai Copper Mine.”
However, it is an early stage of this company’s development and if considering this stock for your portfolio you should take all public information into account and seek professional financial advice.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
