15th Feb 2023 14:38
Castillo Copper Ltd - Australia and Zambia-focused base metal explorer - "Delighted" with the latest assays results for the Tors Tank and Fence Gossan prospects. Says they "materially increase confidence" in the shallow, clay-hosted, rare earth element discovery across the central part of the BHA project's East Zone. The best intercepts include 13 metres at 1,550 parts per million total rare earth oxides from 5 metres and 17 metres at 1,605 parts per million TREO from 2 metres. Notably, says high-value magnetic REO represented an exceptional 38.9% of the TREO grade.
A full interpretation will be released once all the assay results for the auger sampling campaign and drill-holes RT_002-004RC are received from the laboratory.
Managing Director Dennis Jensen says: "The board is delighted with the latest results, especially the diamond core assay at Tors Tank and exceptional MREO value, as it increases confidence in the underlying REE system. In addition, the hand auger surface sampling campaign is proving to be a treasure trove of insights, with several new targets now on the radar. The board looks forward to receiving the remaining assays and charting the next phase of the exploration campaign."
Current stock price: 0.87 pence each, down 5.2% on Wednesday afternoon in London
12-month change: down 29%
By Xindi Wei, Alliance News reporter
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