Castillian Resources (CT-V) may have to wait until the beginning of 2008 for a mineral resource estimate for its Las Aguilias nickel-copper-platinum group element project in Argentina, due to lab delays.
The company has received results from 24 of 56 holes so far, from about 8,800 metres of drilling done in the summer.
The latest results, released today, 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 propertys historical resource of 2.2 million tonnes grading 0.52% nickel, 0.51% copper and 0.04% cobalt.
The resource occurs in two sulfide deposits Las Aguilas East and West.
Castillians 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 prepared statement. The deposits both remain open at depth and along strike.
Drilling extended as deep as 200 metres, the deepest yet on the property.
The company reported 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.
Castillian shares rose 3 today to 48 each on a trading volume of 505,000 shares.
Be the first to comment on "Lab lags could delay Castillian resource estimate"