Due to lab delays, Castillian Resources (CT-V, CTIIF-O) may have to wait until the beginning of 2008 for a resource estimate on its Las Aguilias nickel-copper-platinum group element project, in Argentina.
Castillian had hoped to have the estimate before the end of the year, but the company has only received results from 24 of the 56 holes drilled this summer for a total of nearly 8,800 metres.
The latest results included a 27.2-metre intersection grading 0.66% nickel, 0.39% copper and 0.03% cobalt, including 8.94 metres grading 0.92% nickel, 0.53% copper and 0.04% cobalt.
Castillian hopes to confirm and expand the property’s historical resource of 2.2 million tonnes grading 0.52% nickel, 0.51% copper and 0.04% cobalt.
The resource occurs in two sulphide deposits — Las Aguilas East and West.
Castillian’s exploration manager Danielle Giovenazzo says the company has discovered information about the mineralization beyond what was in the historical reports.
“We are intersecting well-mineralized ultramafic rocks outside of the area that was drilled by previous workers,” Giovenazzo said in a statement. “The deposits both remain open at depth and along strike.”
Drilling extended as far as 200 metres below surface, the deepest yet on the property.
The company says that the mineralization is associated with olivine pyroxenites and peridotites and occur as net-textured and disseminated sulphides with local stringers and massive sulphide veins.
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