What’s latest with these 2 resource stocks - Castillo Copper and MetalsTech

Summary

  • The Australian resource sector is witnessing significant gains amid surging commodity prices.
  • Castillo Copper has finalised a drilling campaign for the Big One Deposit at Mt Oxide project.
  • MetalsTech has announced outstanding results from phase I drilling campaign at the Sturec gold project.

Resource stocks Castillo Copper Limited (ASX:CCZ) and MetalsTech Limited (ASX:MTC) are the talk of the town, following the recent release of significant market updates.

Castillo Copper is a copper, nickel, and zinc-focused exploration company with flagship projects in Australia and Africa. The company is set to commence an expanded drilling campaign at Big One Deposit in Queensland, Australia.

MetalsTech is an ASX-listed gold and lithium explorer with the flagship Sturec underground gold mine in Slovakia and the Cancet lithium project in Canada. The company has hit a record intercept at its fully owned Sturec gold project.

Must Read: Two ASX-listed gold stocks under the spotlight today

Castillo Copper gears up for drilling at Big One Deposit  

The geology team at CCZ has finalised a drilling campaign at the Queensland-based Mt Oxide project. The campaign follows a geophysics survey conducted in the area across a 1,200-metre strike event at the Big One deposit. 

The campaign will include 26 drill holes for 2,828 metres to extend known mineralisation. It will cover 108 metres of HQ diamond core coring in two drill holes, designed to collect the detailed assay, density, and geotechnical measurements.

Source: Company Update, Dated 1 June 2021

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Post the campaign completion at the Big One deposit, the company will move to the Arya and Sansa prospects. There are several inferred bedrock conductors across these prospects, which the company considers as primary drilling targets. The geology team is reviewing all key data points to ensure the success of the program.  

MetalsTech Hits Visible Gold at Sturec

Source: Copyright © 2021 Kalkine Media

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MetalsTech has encountered visible gold in nine out of sixteen holes with bonanza hits in eleven out of sixteen holes at its fully owned Sturec gold project.

To date, the company has completed 16 diamond drill holes during phase-I drilling as a part of its maiden drilling program from within the Andrej Adit. The program was intended to test the mineralisation in the southern extension.

With the successful completion of the first phase, the company now plans to focus on upgrading the resource during the current quarter.

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The company is completing the construction for the second drill site with phase II drilling at the project scheduled to start in mid-June.   

Both the companies were in a trading halt in early trading session today.

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