Castillo Copper Ltd (LSE:CCZ, ASX:CCZ) has planned a comprehensive site visit for geologists to further assess the Picasso Lithium Project near Norseman in Western Australia, where new pegmatites have been discovered.
The field trip will see the CCZ team gather a broad range of geological evidence from the site in a bid to verify whether the pegmatites host lithium mineralisation.
In particular, CCZ will double down on a high-density corridor that hosts most of the 69 government-mapped pegmatites on the eastern boundary.
Once complete, the team should have ample evidence to finalise the due diligence on the project –historical data has already been reviewed, while more than 30 rock-chip samples should be received in the coming weeks.
“Advanced case” for Picasso Project
Speaking to the upcoming field trip, CCZ managing director Simon Paull said: “With the global lithium market showing continued strength, the board has decided to send a team to site to collect more data points to advance the case for the Picasso Lithium Project.
“While there is compelling historical evidence already and surface assays pending, the board is keen to fully map and test all potential targets for lithium mineralisation within the tenure to hasten closing out due diligence.”
Exploring a lithium-rich region
Castillo is completing due diligence on a lithium play that’s primarily located on Crown land, meaning securing access for the field program is a relatively straightforward procedure.
Picasso forms part of a lithium-rich region that also hosts the nearby Mt Marion and Bald Hill Mines, situated roughly 120 kilometres to the northwest.
The project’s eastern boundary is home to a pegmatite corridor that coincides with known lithium surface occurrences.
In addition, the team expects to survey pegmatite outcropping along the western boundary, which is more widespread and scattered.
The pegmatite outcropping at the Picasso Lithium Project.
Scope of works
Once on-site, the CCZ team will take a comprehensive approach to field exploration
The geologists aim to:
- Conduct a drone survey across a significant portion of the tenure;
- Identify new granite/pegmatites from the drone survey and note dimensions;
- Visit newly identified granite/pegmatite locations, conduct geological mapping and identify underlying mineralisation; and
- Collect as many rock chip samples as possible from newly identified pegmatites that measure more than 1metre wide and record XRF readings, if any.
From here, Castillo should have more than enough evidence to complete due diligence on this emerging lithium play.