viewCastillo Copper Ltd

Castillo Copper counting down to drilling at Mt Oxide pillar with RC program finalised

The company has secured all regulatory approvals necessary to begin drilling at Arya prospect with the focus now on progressing logistics.

Castillo Copper Ltd - Castillo Copper finalises RC drilling campaign targeting supergene copper mineralisaiton within Mt Oxide Pillar in QLD
A final drill design for the high-grade Big One deposit will be released shortly

Castillo Copper Ltd (ASX:CCZ) has finalised plans for reverse circulation (RC) drilling at Arya prospect within the Mt Oxide pillar in northwest Queensland to test a 130-metre massive sulphide target.

The upcoming program will test for supergene copper mineralisation near-surface and potential massive sulphides at depth.

Comprising 14-holes for 3,432 metres, three deep vertical drill-holes will target an interpreted potential massive sulphide bedrock conductor EG01, which is about 130 metres thick.

The remaining 11 drill-holes will focus on several near-surface targets including bedrock conductors, EG02 and EG10, which have the potential to host supergene mineralisation.

Regulatory approvals secured

Managing director Simon Paull said: “The countdown to drill the Arya prospect within the Mt Oxide pillar has begun.

“Having secured all necessary regulatory approvals, our focus moves to logistics which includes appointing a drilling contractor, support teams and ensuring clear access to site.

“The drilling program has been exceptionally well designed and our clear objective is to test for shallow supergene copper mineralisation and potential massive sulphides at depth.”

Previous work completed by BHP and other groups confirmed high-grade supergene copper mineralisation at surface, based on assayed rock chip samples up to 7,400ppm copper and 18,400ppm copper, respectively.

Notably, BHP discovered EG01, EG02 and EG10 in the 1990s, however, due to exogenous factors at the time, possibly the prevailing base metals downturn, did not follow through and drill the target considered highly prospective at EG01.

Next steps

There are several upcoming mutually exclusive events, including:

  • Update on logistics and timeline to commence drilling campaign at Arya prospect;
  • Final drill design for the high-grade Big One Deposit; and
  • Progress with listing on the Standard Board of the London Stock Exchange.

Quick facts: Castillo Copper Ltd

Price: 0.04 AUD

Market: ASX
Market Cap: $37.16 m

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Castillo Copper's Ged Hall talks new thick massive sulphide drilling target...

Castillo Copper Ltd's (ASX:CCZ) Ged Hall speaks to Proactive's Andrew Scott after the company announced it's identified drill targets described as being exceptional at the Arya prospect within its Mt Oxide pillar in northwest Queensland. The primary drill target, EG01, is interpreted to be a...

on 10/6/20

2 min read