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Castillo Copper Identifies NWQ Copper Project as Core Asset

24 October 2023 12:21
ASX: CCZ
Castillo Copper

Castillo Copper Limited (ASX:CCZ) has declared the NWQ Copper Project, situated in the esteemed Mount Isa copper belt, as a core asset, marking a pivotal milestone and heralding an extensive exploration campaign to comprehend the over 20 prospects (excluding the Big One Deposit) and foster potential partnerships with development collaborators.

Recent activities by Castillo Copper’s geology team included a visit to the Boomerang and Josephine Prospects, both of which are believed to hold considerable potential for structurally controlled copper mineralisation.

Boomerang Prospect

The mineralisation in this area is hosted in the Surprise Creek Formation and is associated with secondary faulting linked to the Mt Gordon Fault, a regional NE trending structure.

In 1975, Dampier Mining conducted an exploration campaign that included geological mapping, rock sampling, and the drilling of nine RAB holes. This revealed sandstone-hosted copper oxide mineralisation spanning an impressive 800-metre strike length, with secondary copper staining observed along the strike length.

Josephine Prospect

This area is situated within a fault-bounded block of the middle-lower Surprise Creek Formation, featuring host rocks consisting of various sandstone types. Host rocks include buff, brown, and grey thin bedded fine feldspathic and labile sandstone, ferruginous sandstone, and micaceous siltstone.

Rock Chip Sampling

During the field trip, a comprehensive program of rock chip sampling was conducted across diverse geological formations. This initial phase of exploration aimed to assess the potential for copper mineralisation and lay the groundwork for a more systematic campaign when suitable targets are identified.

At the Boomerang Prospect, 21 rock chip samples were collected from exposed sections of the Surprise Creek Formation.

Additionally, 13 rock chip samples were obtained from the outcrops of the Gunpowder Formation, Paradise Creek Formation, and Surprise Creek Formation at the Josephine Prospect.

These samples were then sent to ALS Brisbane for multi-element analysis, revealing promising assay results that identified elevated copper levels, notably reaching up to 0.46% Cu at the Boomerang Prospect.

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Figure 1: Sample CCZ05986 (E. 339321 N. 7864037)

Future Outlook

This comprehensive rock chip sampling program provides a valuable starting point for understanding the potential of these prospects and guiding future exploration efforts.

Castillo Copper’s Chairman Ged Hall commented on the announcement.

“With over 20 prospects across the NWQ Copper Project, which is now earmarked as a core asset, the geology team has considerable work ahead to fully assess the collective exploration potential,” he said.

“This is critical information to have mapped out as the Board channels its efforts into aligning with a strategic development partner.”

CCZ’s Australian Stock Exchange-listed share price is currently selling at $0.006 (12:00 pm UTC+ 8 hours).

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