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Castillo Copper Ltd - Perth, Australia-based exploration company focused on copper across Australia and Zambia - Receives encouraging results from maiden mineral resource estimate for east zone of Broken Hill cobalt project in New South Wales, Australia. Estimate at 64 million tonnes at 318 parts per million in cobalt for 21,556 tonnes. Plans to extend known cobalt mineralisation with primary targets already factored into a drilling campaign. Intends to open discussions with potential off-take partners keen to lock in future cobalt supply chains.
"There is considerable potential to extend known mineralisation with targeted drilling campaigns. With strong global demand for cobalt clearly apparent, the board intends to meet with prospective off-take partners eager to secure supply chains. In addition, Castillo plans to actively participate in the [New South Wales] government's critical minerals initiative," Managing Director Dennis Jensen says.
Current stock price: 1.03 pence, up 8.8% on Wednesday
12-month change: down 60%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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