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Castillo optimising The Big One

20 February 2023 09:59
ASX: CCZ

Castillo Copper are moving on the Big One and have approved plans to assess optimising its deposit at the NWQ Copper Project hosted in Queensland’s renowned Mt Isa Copper Belt.

It marks the next step on further unlocking a deposit already holding an inferred Mineral Resource Estimate of 21,886 tonnes of copper metal, moving in sync with the company’s efforts at Broken Hill, where rare earth returns have continued to inspire.

Work will include commissioning an independent pit optimisation study on the viability of beginning mining operations, utilising prospective third-party processors and an effective path to market while reformulating optimal plans for a third drilling campaign and geophysical surveys to extend the known mineralisation.

The company said with exploratory work ramping up at NWQ Copper and at Broken Hill, the board was increasingly optimistic about its prospects for 2023.

“Following a recent strategic asset review, the Board approved an optimisation study for the Big One Deposit which should ideally articulate a clear pathway to commence copper mining operations,” chairman Ged Hall said.

After upcoming site visits to several targets at the project lying near several global mining group operations, Castillo will then rank exploration potential before presenting the opportunity to prospective partners, with metallurgy results for rare earths from the BHA Project’s East Zone due shortly.

The Big One best intercepts:

  • 40m @ 1.64% Cu from surface incl: 11m @ 4.40% Cu from 24m, 5m @ 7.34% Cu from 28m & 1m @ 16.65% Cu from 29m
  • 44m @ 1.19% Cu from surface incl: 14m @ 3.55% Cu from 27m, 3m @ 10.88% Cu from 37m & 1m @ 12.6% Cu from 37m
  • 34m @ 1.51% Cu from surface incl: 21m @ 2.25% Cu from surface, 12m @ 3.44% Cu from 3m, 6m @ 4.79% Cu from 3m and 1m @ 9.4% Cu from 9m

CCZ’s Australian Stock Exchange-listed share price has risen 6.25 per cent today, currently selling at 1.7c (9.52 am UTC+ 8 hours).

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