The trading halts will remain in place until the beginning of regular ASX trade on Friday, July 31, or when an announcement is released to the market, whichever occurs earliest.
Final targets for upcoming drilling
Castillo recently determined the final targets for upcoming drilling campaigns at Arya and Big One deposits within the Mt Oxide pillar in northwest Queensland's Mt Isa copper belt.
With Big One targets now finalised, the company has invited several experienced drilling contractors to bid for the work, which will commence at Arya prospect.
The drilling campaign’s overall objective is to verify scalability via targeting to extend known mineralisation.
Phase one will see the campaign commence at Arya once a drilling contractor has been selected and logistics in place, as all regulatory approvals have been 100% secured.
On July 1, 2020, the company detailed drilling plans for this prospect, which has an interpreted potential massive sulphide geophysical conductor of around 130 metres thick, with dimensions of about 1,500 metres by 450 metres and 426 metres below surface.
Phase two of the campaign will then move to the Big One Deposit, but this is contingent on final specific approval ratifications from the regulator, which are expected shortly.