FREE DAILY STOCK MARKET NEWS

FREE DAILY STOCK MARKET NEWS

Castillo locks in drilling program at Big One

1 June 2021
ASX: CCZ
Rueben Hale
Two workers walking next to a mining drill parked in the mining site with a blue sky in the background

Australian Securities Exchange and London Stock Exchange-listed Castillo Copper has finalised the drilling campaign for its Big One Deposit, which will comprise 26 drill holes for 2828 metres. 

The campaign will include 108m of HQ diamond coring in two drill-holes to collect detailed assay, density and geotechnical measurements. For comparison, its 2020 drilling programme totalled 21 RC drill-holes for 1467 square metres.

The program, which factors in a recent successful geophysics survey that comprised six 500-700m lines across the 1200m strike event, is designed to extend known mineralisation and build on previous drill results.

Through reconciling legacy drilling and geochemical data against 2D and 3D geophysical models, Castillo has optimised and expanded its campaign to target several newly-identified bedrock conductors. The targets include a large, interpreted anomaly north-west of the line of lode that suggests the potential location of extensive underlying copper mineralisation along fault structures, rather than constrained within the trachyte dyke.

“Reconciling geophysics findings with legacy drilling and geochemical data should enable Castillo’s geology team to design effective drilling campaigns for the Big One Deposit, Arya and Sansa Prospects with a high degree of confidence,” said Castillo managing director Simon Paull.

“Consequently, as we progress through several phases of exploring the Mt Oxide Project over the balance of 2021, the board is optimistic value can be created for all stakeholders.”

The company is now putting in place logistical support for the campaign, with drilling set to commence within the next few weeks.

Once drilling is complete, drilling will move on to its Arya and Sansa prospects, where its geology team is reviewing all key data points.

Notably, there are several bedrock conductors across these two prospects that are prime drill-test targets, including EG01, which is interpreted to be 130m thick, 1500m by 450m and 430m deep.

Perth-based Castillo Copper is primarily focused on copper exploration across Australia and Zambia.

It is embarking on a strategic transformation this year to develop into a mid-tier copper group, underpinned by its core projects in Mt Oxide in north-west Queensland; four high-quality prospective assets across Zambia; zinc-silver-lead-copper-gold deposits at Broken Hill; and the Cangai Copper Mine in northern New South Wales,  one of Australia’s highest grading historic copper mines.

 

COMPANY OVERVIEW

Castillo Copper is an Australian-based explorer primarily focused on copper across Australia and Zambia. We are embarking on a strategic transformation into a mid-tier copper group underpinned by our four high-quality assets: NWQ Copper: New discovery at the Big One Deposit within the Mt Isa copper-belt district of Queensland, with a further nine high-grade targets including the Arya Prospect Zambia – Zed Projects: Four high-quality prospective assets across Zambia’s copper-belt – the second largest copper producer in Africa Broken Hill: A large tenure footprint proximal to the world-class Broken Hill silver-zinc-lead deposit Cangai: One of Australia’s highest grading historic copper mines with a JORC compliant resource (3.2Mt @ 3.3%), up to 14.45% Cu and significant upside potential Castillo Copper is dual listed on the Australian Stock Exchange and London Stock Exchange under the ticker “CCZ”.

COMPANY INFORMATION

ASX: CCZ

Website

https://castillocopper.com/
https://www2.asx.com.au/markets/company/ccz

FREE DAILY STOCK MARKET NEWS

Join our mailing list to receive the latest stock market news.

You have Successfully Subscribed!