(NewsDirect)
Castillo Copper Ltd(ASX:CCZ, LSE:CCZ) CEO Dennis Jensen tells Proactive the company hasdelivered a revitalised copper resource estimate at the Cangai CopperMine in northern New South Wales, bringing it one step closer todeveloping one of the highest-grading copper resources inAustralia.
Partnered with a specialist geology team, the copper stockestablished a 4.6-million-tonne orebody, grading 2.45% copper foraround 114,000 tonnes of the versatile base metal.
There are also zinc,gold and silver credits (grading 0.57% zinc, 0.29 g/t gold and 15.3g/t silver) that modestly boost the mineral resource estimate.
With the revisedresource at hand, the Castillo board is highly optimistic it can alignwith a strategic partner to fully develop Cangai’s copper potentialand map a path to market.
“Having a high-grade mineral resource estimate for circa114,000 tonnes of copper metal plus significant exploration potentialis an excellent value add outcome,” Castillo chairman Ged Hall toldthe market on Tuesday.
“Moreover,when reconciling Cangai Copper Mine’s favourable fundamentals withlong-term global demand trends for copper, the board believes it has acompelling business case to leverage and align with a strategicdevelopment partner.”
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Proactive Investors
JonathanJackson
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Jonathan@proactiveinvestors.com
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