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Highlights:
- 500m long pegmatite identified at the Big Jay Prospect, showing potential for uranium, niobium, and HRE mineralisation.
- High-grade rock chip assays from the first reconnaissance trip returned exceptional values for uranium, niobium, and rare earth elements.
- 13 new samples have been sent for geochemical analysis, with further exploration set for January 2025.
Castillo Copper Limited (LSE:CCZ, ASX: NFM) is excited to announce significant progress in its exploration efforts at the Harts Range Project, located 140 kilometers northeast of Alice Springs. The company is advancing with its exploration planning, having identified new targets and sent additional rock chip samples for laboratory testing.
A key development from the latest exploration phase was the discovery of a 500-meter-long pegmatite at the newly named Big Jay Prospect. This pegmatite has sparked strong interest due to its potential to host uranium, niobium, and heavy rare earth elements (HRE), aligning with Castillo Copper's strategic focus on these critical minerals. The geology team believes that the Big Jay Prospect could become a prominent target in the coming months, further increasing the project's value.
The exploration team had already made significant strides earlier in the year, with their initial reconnaissance trip to Harts Range yielding impressive assay results. These included high-grade readings such as 29.80% Nb2O5, 14.04% U3O8, 1.63% Dy2O3, 0.22% Tb4O7, and 23.02% Ta2O5 from rock chip samples collected from outcropping pegmatites. These findings confirmed the potential for substantial uranium, niobium, and rare earth mineralisation in the area.
The primary objectives of the most recent reconnaissance trip, undertaken in late November 2024, were to assess historical prospects such as Cusp, Bobs, Bobs West, and the newly renamed Dune (previously known as Niobium Anomaly), as well as to evaluate new areas of interest for further exploration. During this trip, the geology team not only observed the 500-meter-long pegmatite at Big Jay but also identified two additional prospective areas near the Cusp and Bob Prospects that appear to hold potential for base metal mineralisation. Preliminary assessments were conducted, and rock chip samples were taken from these sites for further analysis.
To advance its understanding of the Harts Range Project, Castillo Copper has sent the 13 samples collected during the reconnaissance trip to Intertek in Perth, Western Australia, for geochemical analysis. The company anticipates receiving the results shortly, which will help guide the next phase of exploration and allow for more informed decision-making regarding the viability of these targets.
Looking ahead, the company plans to commission a heliborne radiometric and magnetic survey in January 2025. This survey is expected to provide valuable geophysical data, enabling Castillo Copper to delineate and identify additional targets across the Harts Range Project for field investigation. This next step is critical in accelerating the development of the project and further unlocking its potential.
Ged Hall, Chairman of Castillo Copper, commented: “The geology team’s follow-up visit to the Harts Range Project demonstrates our commitment to advancing exploration efforts in this highly prospective region. The upcoming geophysical survey in January will be crucial in further expanding the areas of interest and driving progress toward unlocking the full potential of the Harts Range Project.”
