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Castillo confirms Big One potential

28 February 2022
ASX: CCZ
Jack Baker

Castillo Copper produced a maiden JORC estimate of 2.1 megatonnes at 1.1 per cent copper for 21,886 tonnes of contained metal at its Big One deposit, part of the company’s promising and NWQ Copper project near Mt Isa in northwest Queensland.

The aptly named Big One target has captured the most attention of the project’s 20 known targets, with open mineralisation in several directions offering the potential for significant upside.

The resource is confirmed amidst a copper surge in the wake of Russia’s full-scale invasion of Ukraine, with Western sanctions against Moscow potentially disrupting supply from Russia.

In response, Castillo is expediting negotiations with third-party processors while maintaining urgency with the realisation of the close to the surface mineral deposit.

“Encouragingly, with the underlying deposit open to the north, east and down-dip, the next drilling campaign will focus exclusively on extending the known orebody,” chief executive Dennis Jensen said.

“In addition, the underlying copper orebody commences from the surface, which is a significant positive attribute if the project is fully developed.”

The company will also advance modelling a cobalt estimate at its Broken Hill project and review its Cangai copper mine.

CCZ’s Australian Stock Exchange-listed price was trading at 1.9c today (6:07 am UTC+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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