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Castillo move to claim Queensland’s Copper

23 January 2023 09:04
ASX: CCZ

Castillo Copper have launched a series of site visits across NWQ Copper following a review of its project in Queensland’s world class Mt Isa Copper Belt.

It marks the next stage of exploration on a swag of notable copper prospects as outlooks on the red metal grow bold.

Initial focus will laser onto The Big One Prospect, already holding an inferred resource estimate of close to 22kt of contained copper metal and a set exploration target ranging up to 60kt.

Castillo’s prospect collection also includes Valparaisa, which comprises copper mineralisation across a pair of horizons over a six kilometre strike event with geology suggesting a structurally controlled system, and the Arya Prospect, holding a significant magnetic anomaly south of a known graphite system showing potential to be a primary source of copper mineralisation.

The company said with the macro-outlook for Dr Copper remaining upbeat, the board authorised its geology team to move on spotting up fresh targets to test drill.

“Key areas of focus include increasing the grade and confidence in the current MRE at Big One and the magnetic anomaly at the Arya Prospect,” managing director Dr Dennis Jensen said.

“Given the large size of the NWQ Copper Project, the Board remains open to aligning with a strategic partner to further advance development work.”

Castillo still have final drill and auger assays from the BHA Project’s East Zone coming in, set to define the potential scale of last year’s game changing rare earth discovery.

CCZ’s Australian Stock Exchange-listed share price has risen 13.33 per cent today, currently selling at 1.7c (8.59 am UTC+ 8 hours).

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