(Alliance News) - Castillo Copper on Friday reported several "standout" intercepts of cobalt at the East Zone of its BHA project.
Castillo is a Perth, Australia-based exploration company focused on copper across Australia and Zambia.
Castillo said it was focused on developing the cobalt potential at the East Zone of its BHA project during the fourth quarter ended June 30.
The BHA project is located in New South Wales, Australia and comprises a sizeable footprint proximal to Broken Hill's zinc-lead-silver deposit.
The company noted that assay results in April identified an extensive cobalt system apparent within the project's East Zone.
New assay results, specifically from Fence Gossan prospect, are relatively shallow, it said, and include several "standout" intercepts.
At the Fence Gossan prospect, it estimated copper of 660 parts per million from 28 meters at 23 meters.
Moving forward, the company will work on extending the known cobalt mineralisation.
"With cobalt remaining over USD70,000 per tonne, the priority is to extend known mineralisation across the BHA Project's East and West Zones via targeted drilling campaigns and formalising a clear path to market," Managing Director Dennis Jensen said.
Shares in Castillo Copper were untraded on Friday afternoon, last quoted at 0.75 pence.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Castillo Coppe. (CCZ)