Positive drill results are coming in for Castillo Copper’s Big One Deposit.
It’s part of the Mount Oxide project located in the Mount Isa copper belt district where a drilling contractor recently completed 20 holes with positive results including six partial assays for visible copper of up to 4.1 percent.
The board was preparing to release the complete drill logs and relevant observations in the near future said managing director, Simon Paull.
The interpretations suggested a shallow, high-grade scalable copper system apparent at the Big One Deposit said Mr Paull.
The priorities of the board included working to model a JORC compliant resource at Big One Deposit, idenfiying massive sulphide bedrock conductors and moving onto the next target, he said.
“Having completed 20 drill-holes of the current drilling campaign, the Board is delighted about the potential of the Big One Deposit,” said Mr Paull.
“Further, the Board is optimistic 2021 will be a transformative year and that significant value can be created for shareholders as the Mt Oxide Project is developed.”
Castillo Copper Limited is an Australian-based explorer primarily focused on copper across Australia and Zambia. The company’s projects include:
- The Mt Oxide project in the Mt Isa copper-belt district, north-west Queensland, which delivers significant exploration upside through having several high-grade targets and a sizeable untested anomaly within its boundaries in a copper- rich region.
- Four high-quality prospective assets across Zambia’s copper-belt which is the second largest copper producer in Africa.
- A large tenure footprint proximal to Broken Hill’s world-class deposit that is prospective for zinc-silver-lead-copper-gold.
- Cangai Copper Mine in northern New South Wales, which is one of Australia’s highest grading historic copper mines.
Castillo Copper’s (CCZ) share price was AUD0.036 at midday (Monday 4 Jan).