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Castillo to test-drill massive copper-belt anomaly

10 August 2021
ASX: CCZ
Rueben Hale

Castillo Copper Limited has firmed-up plans for test drilling at the Big One deposit after data shows a massive anomaly much closer to the surface than first thought at its Arya prospect in Queensland’s copper-rich Mt Isa region.

The explorer has confirmed a 130m thick, 1,500m long and 450m wide anomaly lay just 100m to 200m below the surface, in contrast to BHP’s mid-1990s analysis recommending test drilling the prospect thought to be around 430m deep at the time.

As copper remains in short supply worldwide, the company said it is on track to commence drilling the site in September.

“Encouragingly, recent work by our geophysicist consultant has uncovered new insights which make the case for drilling the Arya Prospect even more compelling, especially as interpretation of the sizable EG01 anomaly shows it is materially shallower than previously estimated,” managing director Simon Paull said.

The company plans to submit a mining application for the deposit after modelling a JORC compliant resource from multiple drill test data.

It plans to update investors and shareholders on delayed laboratory reports in as soon as possible.

The company’s Australian Stock Exchange-listed shares opened today, trading at 3.7c  (8:00 am GMT+ 8 hours).

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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