UNTAPPED POTENTIAL: Mine exploration in Upper Clarence
THE Clarence Valley is rich in a lot of things, but according to new explorations by mining company Castillo Copper, we can add an extensive mineralisation system to the list.
In mid-2017 the Western Australia-based company began looking into the untapped potential at the old Cangi Copper Mine, which operated in the early 1900s.
The area has been evaluated a number of times in the past 40 years, but according to Castillo Copper's website, these projects never went ahead due to "tough economic conditions".
A rare supergene ore was discovered at the Cangi mine which was 35 per cent copper and 10 per cent zinc, which is a rare geological occurrence.
Earlier this month, Castillo Copper reported the mineralisation system at the Cangi Copper Mine extended well beyond what the Joint Ore Reserves Committee's modelled boundary.
The best intersections recorded in their explorations were up to 2.66 per cent copper, 20.7 per cent silver and 2.35 per cent zinc.
According to Castillo Copper, there are more than 25 historical copper, gold, cobalt and iron workings and small mines in the area. Castillo Copper will be searching primarily for copper-cobalt, which is used in the production of batteries, in the Jackaderry Project.
On March 9, 13.5 drill holes were completed with four point five remaining to finish the current campaign.
Chair Peter Meagher said with the assay results for half the drilling campaign now in, the initial findings were encouraging.
"The program successfully targeted sulphide mineralisation which will blend with our existing high-grade supergene ore to expand the current resource size," he said.
More drilling was set to begin targeting shallower high-grade mineralisation near the historic Cangi mine.
"The board (of Castillo Copper) believes there is material further upside to the mineralisation system, which explains the decision to expand the drilling program," Mr Meagher said.
This will be the second mine to open up in the area with Corazon discovering high grade cobalt in 2016.