Castillo Copper completes key survey at Cangai
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Castillo Copper (ASX:CCZ) has provided an encouraging update on its progress at the Cangai Copper Mine project.
The full complement of assays for the first five drill-holes has been finalised, with results returning up to 10.25% copper, 6.04% zinc, 32.5g/t silver and 1.37g/t gold.
The company has also indicated that Down-hole electromagnetic surveys (DHEM) are underway on site, with initial fully-funded DHEM activity now complete at Volkhardts lode. Data collected so far from Volkhardts has passed a specialist consultant geophysicist, who will 3D model all DHEM survey inputs.
DHEM survey work will wrap up at McDonoughs lode in the coming weeks.
If the massive sulphides intersected from the first five drill-holes are any indication, the company is optimistic that existing sulphides and extensions will be mapped accurately moving forward.
CCZ aims to leverage DHEM tech to identify key conductors associated with massive sulphide mineralisation, leading to the location of where primary mineralisation is likely to be found.
Diamond drilling rig
The diamond drill rig is on standby and available to commence work on site.
The rig will test any DHEM identified conductors and priority targets that result from 3D modelling, which will provide greater insight into the style of mineralisation and depth extensions at Cangai.
The company has finished work on the Canberra anomaly, which has a surface reading of 1660ppm copper.
CCZ’s geology team have sent samples from the anomaly to the lab for further testing. The anomaly, which is located due east to the lode, holds the potential to extend the known mineralised zone.
Of course, as with all minerals exploration, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.
CCZ will complete the 3D modelling on the Volkhardts lode DHEM survey results and commence diamond drilling on identified potential targets as soon as possible.
CCZ Chairman Peter Meagher commented on the progress update, “Our geology and drilling teams have done a tremendous job uncovering significant intersections of high-grade shallow massive sulphide mineralisation at Cangai.
“The next tasks is to demonstrate the project is scalable, which is where the importance of utilising DHEM surveys comes into play.”
tagsCOPPER ASX STOCKS EXPLORATION
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.