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Castillo moves on massive Queensland copper target

14 September 2021
ASX: CCZ
Rueben Hale

Castillo Copper is mobilising crews to test-drill a 130-metre thick sulphide target at the Arya prospect, part of the aptly named Big One deposit, in the famous Lachlan Fold belt in Queensland’s historic Mt Isa region.

The company has managed to remain focused on the exciting deposit, while maintaining momentum in Zambia, finalising operational requirements to enable drilling into the shallow 130m thick, 1,500m long, and 450m wide target in coming weeks.

Castillo said it had appointed locally experienced operator Down Force Drilling given the nature of operating in such a challenging environment and the importance of the task.

It also said the highly-anticipated completed assays would arrive any day, which it is confident will assist with detailed planning ahead of getting drilling underway.

“The board is delighted to confirm mobilisation to the Arya Prospect during the last week of September 2021,” managing director Simon Paull said.

“Further, we look forward to shortly receiving the full assays and key interpretation work for the Big One deposit.

“Moving forward, the Board’s goal is to concurrently progress developing the Queensland and Zambia projects while bringing in third parties for the New South Wales assets.”

The company’s Australian Stock Exchange-listed shares had risen 6.45 per cent today, trading at 3.3c (11:16 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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