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Castillo Copper Ltd

Castillo Copper plans site visits to Mt Oxide as it progresses London dual-listing

An independent geology report will be produced as part of the planned LSE dual listing.

Castillo Copper Ltd - Castillo Copper plans site visits to Mt Oxide as it progresses London dual-listing
Mt Oxide is pillar two in the company’s three pillar copper strategy

Castillo Copper Ltd’s (ASX:CCZ) geology team has planned several site visits this year to its Mt Oxide Copper Project located 150 kilometres north of Mt Isa in northwest Queensland.

In addition, a team from SRK Consulting will be undertaking a field trip as part of the requirements for a London Stock Exchange listing.

Castillo aims to develop a copper mining operation at Mt Oxide, which is in an area that hosts a number of historical and operating copper mines.

Arya the priority drill target

An aero electromagnetic survey has identified the Arya Prospect, which is the Mt Oxide Project’s top target.

The electromagnetics suggest a possible copper sulphide orebody and this is supported by rock chips grading up to 1.84% copper located updip from the site.

BHP (ASX:BHP) originally discovered the bedrock conductor in 1997 and recommended follow up drilling after a first pass ground electromagnetic survey but this never materialised.

The upcoming field trips will be used to conduct pre-drilling exploration including mapping, soil and rock chip geochemistry and additional surveys to formulate the maiden drill program.

While Arya is the highest priority target it is not the only target, over 5,000 surface samples have been collected from the project with multiple anomalous copper-cobalt samples across the project.

Mine reopening gives region vote of confidence

In April 2017, the nearby Capricorn Copper Mine was reopened after a 4-year hiatus.

Notably, it is one of the largest copper development projects completed in Australia during the last decade.

It plans to generate 30,000 tonnes per annum of metal concentrate over a 10-year mine life and the first sale and shipment was booked in February 2018.

The largescale mine’s successful reopening is a vote of confidence in the region and supports Castillo’s objective at the Mt Oxide project to develop a copper mine.

Quick facts: Castillo Copper Ltd

Price: $0.03

Market: ASX
Market Cap: $17.32 m
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