FIGURE 1: PEGMATITE OUTCROPPING – LITCHFEILD LITHIUM PROJECT
- Follow up site visit to the Litchfield Lithium Project in the Northern Territory, arranged by the Vendor Group’s geological consultant, has highlighted significant pegmatite outcropping (Figure 1 & 3) along the western boundary:
- This is contiguous to Core Lithium’s (ASX: CXO) Finnis Lithium Project (1) which has JORC compliant ore reserves (7.4Mt @ 1.3% Li2O) (1)
- With satellite imagery (2) verifying the geology in the Litchfield Lithium Project (NW quadrant) is comparable to CXO’s ground, CCZ is awaiting assay results on 657 surface samples (taken along the NW boundary) to determine the potential for contiguous mineralisation:
- Encouragingly, the site- visit geological reports noted the areas sampled mostly comprised metamorphic rocks linked to the Burrell Creek formation – a host rock for the regional occurrences of pegmatites (Appendix A)
- Meanwhile, the Board has been advised by the on-site team at the Arya Copper Prospect in the Mt Isa copper-belt that prep work is nearly complete, which will enable drilling to commence shortly thereafter
Castillo Copper’s Managing Director Simon Paull commented: “Initial due diligence at the Litchfield Lithium Project is off to an excellent start, with demonstrable photographic evidence of pegmatite outcropping along the western boundary. The Board now awaits the outcome of assay results which will determine the potential for contiguous mineralisation with CXO’s Finniss Lithium Project. In the meantime, our team’s efforts are now focused on commencing the inaugural drilling campaign at the Arya Copper Prospect in the Mt Isa copper belt.”
Castillo Copper Limited’s (“CCZ”) Board is delighted to announce that initial due diligence – reviewing site visit geological reports arranged by the Vendor Group – on the Litchfield Lithium Project in the Northern Territory, has highlighted significant pegmatite outcropping (Figures 1 & 3) along the north-west boundary. This is contiguous to Core Lithium’s (ASX: CXO) Finnis Lithium Project1 which has JORC compliant ore reserves (7.4Mt @ 1.3% Li2O) (1).
As already highlighted (refer CCZ ASX Release – 29 September 2021), satellite imagery has verified the geology along the Litchfield Lithium Project’s north-west boundary is comparable to CXO’s ground (Figure 2). The Vendor Group’s geological consultant conducted intensive surface sampling across four target areas within the NW quadrant, taking 657 samples to determine the potential for contiguous mineralisation (refer Appendix A). The sampled areas mostly comprised metamorphic rocks linked to the Burrell Creek formation – a host rock for the regional occurrences of pegmatites.
The samples are at the laboratory undergoing further analysis, with results slated to be received in coming weeks.
FIGURE 2: LITCHFIELD LITHIUM PROJECT
FIGURE 3: PEGMATITE OUTCROPPING AT LITCHFIELD LITHIUM PROJECT
Next steps
For the lithium projects, the initial focus will be on the following areas:
- Ongoing due diligence for Picasso and Litchfield Lithium Projects, including return of assay results for surface sampling campaigns.
In Queensland, the following is set to take place over the coming weeks:
- Commencement of drilling at the Arya Prospect.
There are several ongoing steps for the Zambia operations, including:
- Complete the IP survey at the Luanshya & Mkushi Projects then analyse the results for incremental targets for test-drilling; and
- Commence work on the inaugural drilling campaign for the Luanshya Project.
References
- CXO ASX Release – 21 September 2021 (Annual Report) & CCZ ASX Release – 29 September 2021
- Satellite imagery from Geological Survey of Western Australia. Available at: https://www.dmp.wa.gov.au/Geological-Survey/GeologicalSurvey-262.aspx & CCZ ASX Release – 29 September 2021