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Castillo Copper expands Big One targets for upcoming drilling at Mt Oxide pillar

A review of all relevant historical reports has identified further targets which will be drilled in an expanded reverse circulation campaign.

Castillo Copper Ltd - Castillo Copper expands Big One targets for upcoming drilling at Mt Oxide pillar
Mt Oxide, one of CCZ’s three pillars, is in the Mt Isa copper-belt of northwest Queensland

Castillo Copper Ltd (ASX:CCZ) has further enhanced the copper potential of its Mt Oxide pillar in Queensland with expanded drilling targets at the Big One deposit.

These targets have been identified in an ongoing review of all relevant historical reports related to the Big One deposit.

Expanded drilling campaign

As a result, CCZ’s geology team has expanded the upcoming reverse circulation (RC) drilling campaign to include:

  • Along the line of lode at depth below known shallow supergene ore mineralisation, which is 600 metres long, and includes three historic open pit workings;
  • A sizeable gossan, based on historic surface observations that is around 200 metres north from the line of lode; and
  • Several areas south from the line of lode where fieldwork observations show elevated copper mineralisation at surface.

This ambitious set of targets are due to be drill-tested once a contractor has been selected and regulatory approvals secured.

“Upside potential”

Castillo Copper’s managing director Simon Paull said: “As noted in our mid-January release, there is a lot of upside potential from progressing plans to drill the Big One Deposit.

“The main focus of the expanded drilling program is to hit all the main targets along the line of lode, particularly to test for extensions to known mineralisation at depth.”

Shares higher

Shares were up almost 12% in early trade to 2.9 cents.

Prospects at Mount Oxide.

CCZ’s upcoming drill program is designed to verify four factors underpinning Big One deposit’s upside which complement the supergene mineralised porphyry dyke:

  • Strongly altered hanging wall mineralisation containing malachite/cuprite nodules;
  • Footwall fault gouge and elevated altered sediments;
  • Gossan mineralisation; and
  • Mineralised sulphides beneath the supergene ore layer.

“Eager to continue exploring”

Paull said: “In addition, there are now targets north and south of the strike zone which are highly prospective for underlying copper mineralisation.

“The board is extremely eager to continue exploring the Mt Oxide project as the ongoing geological review has uncovered some excellent targets to test-drill.”

Strong historic results

Previous drilling at Big One in 1993 targeted shallow high-grade supergene ore from surface and returned up to 3 metres at 12.25% copper from 42 metres, including 2 metres at 17.87% and 1-metre at 28.4%.

The objective with test-drilling for the Big One deposit is to see if there are material extensions to known copper mineralisation, in conjunction with verifying historical reports of gossan mineralisation through field exploration.

Identifying a gossan can be significant as it is a signpost to what lies beneath the surface.

CCZ will provide a detailed update on plans for the Arya prospect at Mt Oxide, selected drilling contractor and status quo on regulatory approvals in due course.

Quick facts: Castillo Copper Ltd

Price: 0.039 AUD

Market: ASX
Market Cap: $36.23 m

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