Last press release - no significant assays at...
Chilean drills no significant assays at Castlereagh
2018-08-08 08:16 ET - News Release
Mr. Terry Lynch reports
ASSAYS RECEIVED FOR CASTLEREAGH DRILLING
Chilean Metals Inc. has received the assay results from two drill holes at the Castlereagh prospect at Bass River in Nova Scotia.
Two holes were drilled to test a strong electromagnetic conductor at the Castlereagh prospect. Both holes intersected strong sulphide mineralization in the target zones but in both instances the sulphide assemblage is dominated by pyrrhotite and not base metal sulphides. As expected from visual assessment of the core, no significant assays have been returned.
Mick Sharry, president and chief operating officer of Chilean Metals, commented: "In the short period of time since the management restructure we have tested the Castlereagh target and brought it to a decision point. In parallel with that we have defined and already executed phase 1 of our cobalt strategy by successfully securing key tenements, conducting geophysical surveys which have defined large targets, and located and resampled historic drill core which has returned strong cobalt results associated with one of those geophysical targets. We have a strong pipeline of cobalt and IOCG prospects, of which the cobalt targets are definitely the highest priority. Prioritizing and systematically testing quality targets is the key to adding value for our shareholders and I'm very please with how we are delivering on that. I'm really looking forward to testing these quality cobalt targets going forward."