Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
A geology team who mapped and collected samples from the high-density corridor for the company confirmed a 10km zone of pegmatite occurrences in the north-eastern part of the tenure, which significantly exceeds government mapping.
“The observed pegmatites are potentially related to lithium mineralisation which enhances prospectivity of the tenure's north-eastern quadrant,” stated Castillo.
Simon Paull, Managing Director of Castillo Copper, explained: “The geology team's visit to the Picasso Lithium Project delivered encouraging news, confirming that a 10km zone of pegmatites is apparent in the tenure's north-east quadrant.
“The Board's preliminary conclusion, based on due diligence undertaken to date, is the Picasso Lithium Project is prospective for lithium mineralisation and delivers significant incremental exploration potential.”
Castillo Copper shares rose to a high of 2.05p earlier in the session. However, they are currently down 0.4% at 2.02p.
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