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Castillo Copper gets boost from government body for Mt Oxide Project

Castillo’s three-pillar strategy to build itself into a mid-tier copper company features Pillar I: Cangai Copper Mine (NSW), Pillar II: Mt Oxide Project (QLD), Pillar III: Zambia projects.

Castillo Copper Ltd - Castillo Copper gets boost from government body for Mt Oxide Project
Geoscience Australia is an agency of the Australian Government that carries out geoscientific research

Castillo Copper Ltd (ASX:CCZ) has received a vote of confidence from government research body, Geoscience Australia.

The Mt Oxide Project in northwest Queensland is within a newly defined area in which Geoscience Australia has highlighted as prospective for IOCG mineralisation.

These findings were outlined at the Digging Deeper: Technical conference in Brisbane during December 2019.

Castillo will continue to progress the comprehensive exploration campaign for the Mt Oxide pillar and secure necessary approvals from landholders to commence site visits to the priority target areas.

Findings support quality of project location

Castillo’s managing director Simon Paull said: “Overall, it is highly encouraging the Mt Oxide Pillar footprint is within an area Geoscience Australia highlights as new region prospective for IOCG mineralisation.

“These findings by Geoscience Australian provide significant support that CCZ’s Mt Oxide project is in the right neighbourhood, with compelling exploration targets.”

Machine learning used to analyst survey data

In collaboration with CSIRO, Geoscience Australia has utilised machine learning techniques to analyse AEM survey data covering northwest Queensland and northeast Northern Territory to generate mineral suite maps.

The results identified a new area, west of the Mt Isa resource hub that is prospective for IOCG mineralisation.

Quick facts: Castillo Copper Ltd

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Market: ASX
Market Cap: $35.3 m

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