22nd Nov 2021 15:48
Castillo Copper Ltd - Perth, Australia-based exploration company - At Picasso lithium project in Australia, mapping and collection of samples confirms 10 kilometres of pegmatite occurrence in northeastern part of tenure, exceeding government mapping.
Pegmatites discovered show possible relation to lithium mineralisation which enhances prospectivity. Meanwhile, due diligence for the Lithfield lithium project is ongoing, with assays set to be returned in the next two to three weeks.
"The geology team's visit to the Picasso lithium project delivered encouraging news, confirming that a 10km zone of pegmatites is apparent in the tenure's north-east quadrant. The board's preliminary conclusion, based on due diligence undertaken to date, is the Picasso Lithium Project is prospective for lithium mineralisation and delivers significant incremental exploration potential," said Managing Director Simon Paull.
Current stock price: 1.92 pence, down 5.4%
Year-to-date change: down 6.3%
By Dayo Laniyan; [email protected]
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