REG - Castillo Copper Ltd - 500m pegmatite identified at Harts Range Project

IntertekAnnouncement

06/12/2024 08:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241206:nRSF1240Pa&default-theme=true

RNS Number : 1240P  Castillo Copper Limited  06 December 2024

 

6 December 2024

 

CASTILLO COPPER LIMITED

("Castillo", "CCZ" or the "Company")

 

500m long pegmatite identified at Harts Range Project, Northern Territory

 

Castillo Copper Limited (LSE: CCZ, ASX: NFM), is pleased to announce that its
exploration planning is well underway at the Harts Range project, 140km
north-east from Alice Springs with new targets identified and further rock
chip samples sent for testing.

 

A notable finding was at the newly named Big Jay Prospect (Figure 1) where a
500m long pegmatite was observed. The geology team consider this to be
prospective for uranium-niobium-HRE mineralisation

 

Highlights:

 

·    A second reconnaissance trip to the Harts Range Project, highly
prospective for Uranium, Niobium & Heavy Rare Earths (HRE) mineralisation,
have revealed more key targets including a 500m long pegmatite at the Big Jay
Prospect

·    This follows assays from rock chips samples collected from
outcropping pegmatites during the first recent visit to the Harts Range
Project returning excellent high-grade readings up to 29.80% NB2O5, 14.04%
U3O8, 1.63% Dy2O3, 0.22% Tb4O7 and 23.02% Ta2O5 1 

·    Aim was to assess historical prospects(1,2) including Cusp, Bobs,
Bobs West and Dune (renamed from Niobium Anomaly), take fresh field readings
and collect rock chips samples

·    Big Jay Prospect is 1.6km SSE from Bobs, which is considered
prospective for uranium-niobium-HRE mineralisation

·    13 samples from the prospective areas have been dispatched to the
laboratory for analysis

·    Next steps will be the commission of a heliborne radiometric and
magnetic survey during January 2025

 

Ged Hall, Chairman, commented: "The geology team's recent follow up visit to
the Harts Range Project reinforces the Board's commitment to accelerating
development efforts and identifying new prospective targets in the region. The
critical next phase of the exploration campaign will be a heliborne
geophysical survey which has the potential to significantly expand the areas
of interest."

 

IDENTIFYING NEW TARGETS AT HARTS RANGE

 

Positive progress has stemmed from the geology team's second reconnaissance
visit to the Harts Range Uranium, Niobium & Heavy Rare Earths Project(1,2)
in late November 2024. The key objectives were to assess historical prospects
and visit new areas of interest that could become viable targets.

 

The first task undertaken was to visit known prospects - Cusp, Bobs, Bobs West
and Dune (renamed from Niobium Anomaly) - that are prospective for
uranium-niobium-HRE mineralisation(1) (Figure 1). The team took field
readings, noted key observations and collected rock chips samples for further
analysis.

 

Figure 1: Harts Range prospects location map

Source: The Company's geology team

 

Interestingly, two new areas were identified proximal to the Cusp and Bob
Prospects that exhibited potential for base metal mineralisation. The team
undertook a preliminary assessment at both sites and collected some rock chip
samples that will be assayed.

 

Next Steps

 

All 13 samples collected from the reconnaissance trip have been sent to
Intertek (Malaga - Perth, Western Australia) for geochemical analysis. Once
the results are returned and interpreted, the findings and insights will be
released to the market.

 

In addition, the Board is targeting to finalise a heliborne radiometric and
magnetic survey during January 2025, which should aid delineating and identify
additional targets across the Harts Range Project for field investigation.

 

-END-

 

For further information, please contact:

 

 Castillo Copper Limited                                             +61 8 6558 0886 
 Gerrard Hall (UK), Chairman                                          
                                                                      
 SI Capital Limited (Financial Adviser and Corporate Broker)         +44 (0)1483 413500 
 Nick Emerson                                                          
                                                                       
 Gracechurch Group (Financial PR)                                    +44 (0)20 4582 3500
 Harry Chathli, Alexis Gore, Henry Gamble                             

 

REFERENCES

 

1)    CCZ ASX Release - 21 & 28 October and 6 November 2024

 

2)    Barfuss, R. (Barfuss Corporation Pty Ltd) 19 November 2007: "A Brief
report on Samarskite Mineralisation in the Harts Range Project" (unpublished
report) and Barfuss, R. (Barfuss Corporation) 2014: The Harts Range Project
Exploration Licence (EL 24552) - inclusive of the following references:

 

a.     Caughey, A.R. (Flagstaff Geo Consultants Pty Ltd.), November 2007:
Annual Report for Exploration Licence EL24552 for the period ending 25th
August 2007 (for Barfuss Corporation Pty. Ltd.)

b.     Caughey, R. (Flagstaff Geo Consultants Pty Ltd.) 2002 to 2006:
various unpublished reports for Barfuss Corporation Pty. Ltd.

c.     PNC Exploration (Australia): various open-file tenement annual,
final and partial relinquishment reports,1994 to 1997; Report Numbers
CR1994-0325, CR995-0298, CR1995-0525, CR1995-0697, CR-1996-0285, CR1996-0286,
CR-1997-0611. *

d.     Rutter, H. (Flagstaff Geo Consultants Pty Ltd.) 2006. 'An analysis
of airborne radiometric data from the Harts Range, N.T.' (unpublished report)

e.     Shaw, R.D., Senior, B.R., Offe, L.A., Stirzaker, J.F., Walton,
D.G., Apps, H.E., Freeman, M.J.1:250,000 Geological Map Series Explanatory
Notes Illogwa Creek SF53-15. Bureau of Mineral Resources Australia &
Northern Territory Geological Survey,1985.

 

Note: * Open file company reports sourced from the Northern Territory Mineral
Industry Reports Management System (IRMS). Available at:
https://geoscience.nt.gov.au/gemis/ntgsjspui/handle/1/3 Riley, A. (31 October
2024) - Minerals Test Report (Unpublished for CCZ). Produced by:
https://www.intertek.com/ (https://www.intertek.com/)

 

About Castillo Copper

 

Castillo Copper Limited is an Australian-based focussed explorer, with a
strategy to develop multi-commodity assets that demonstrate future potential
as an economic mining operation. Through the application of disciplined and
structured exploration, Castillo Copper has identified assets deemed core and
is actively progressing these interests up the value curve. Current focus will
be on advancing exploration activity at the Harts Range Niobium, Uranium and
Heavy Rare Earths Project which is circa 120km north-east from Alice Springs
in the Northern Territory.

 

Other interests include the NWQ Copper Project, situated in the copper-belt
district circa 150km north of Mt Isa in Queensland and the Broken Hill Project
in western New South Wales.

 

Castillo Copper is listed on the LSE under the ticker "CCZ" and ASX under the
ticker "NFM".

 1  ASX:CCZ Announcement: HIGH-GRADE ASSAYS UP TO 29.80% Nb2O5 & 14.04%
U3O8 VALIDATE HARTS RANGE PROJECT POTENTIAL
(https://wcsecure.weblink.com.au/pdf/CCZ/02877298.pdf) , dated 6 November 2024

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFZMGZVVDGDZG