Castillo Copper Ltd - Australia and Zambia-focused base metal copper exploration company - Reviews site visit reports on Litchfield lithium project in Australia, which reveals four target zones where surface sampling was undertaken, revealing comparable geology between Litchfield and the Finess project.
Castillo is continuing to conduct its due diligence on the project, which includes the return of assay results for surface sampling campaigns.
Near the end of September, the company secured its 90-day option to acquire the Litchfield and Picasso lithium projects. Litchfield has JORC compliant ore reserves at 7.34 million tonnes at 1.3% lithium oxide, while Picasso has a resource at 14.9 million tonnes at 0.97% lithium oxide.
"The depth of the surface sampling programme conducted by the Vendor Group's geology consultant is impressive, especially as it covers our main area of interest within the tenure. Favourable assay results should make the case for the Litchfield Lithium Project significantly more compelling and hasten our due diligence efforts," says Managing Director Simon Paull.
Current stock price: 2.12 pence
Year-to-date change: up 3.4%
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Castillo Coppe. (CCZ)