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Castillo encouraged by promising results

29 June 2021
ASX: CCZ
Rueben Hale
Worker at mining site. Truck and drilling machine.

Perth-based explorer Castillo Copper Limited has confirmed intercepts as high as 17.5m and copper mineralisation potentially higher than first thought at its Big One Deposit.

In an announcement today, Castillo said drilling deeper boreholes intersected mineralisation within and external to the trachyte dyke, at its flagship Mt Oxide Project in Queensland’s copper belt.

The Australian Securities Exchange-listed company said the intersections supported interpretations from an induced polarisation (IP) survey concluding major structural trends control copper mineralisation rather than constrained purely within the trachyte dyke.

“Factoring in the IP survey results to our re-designed drilling campaign at the Big One Deposit has delivered excellent initial results, with significant mineralisation intersected,” managing director Simon Paull said.

 “Holistically, the Board is delighted with these early results, as our core goal over the course of the campaign is to significantly extend known mineralisation.”

The Castillo Copper Limited is an Australian-based explorer primarily focused on copper across Australia and Zambia.

Recently, Castillo raised $11.7 million for copper projects in Australia and Zambia, with plans to drill not only Mt. Oxide but also its Luanshya and Mkushi projects in Zambia with the proceeds.

The company plans to continue drilling up to 21 targets across at Mt Oxide, while also building up a forward pipeline of targets to explore once the drilling program at Big One, Arya and Sansa Prospects concludes.

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

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