viewCastillo Copper Ltd

Castillo Copper identifies further Mt Oxide pillar copper potential at Valparaisa prospect

So far, the Mt Oxide project geological analysis has delivered significant value-added insights and upside potential apparent across the nine prospects reviewed.

Castillo Copper Ltd -
Next step is a field trip to Valparaisa prospect to verify if there are surface expressions of the proposed underlying mineralisation styles

Castillo Copper Ltd's (ASX:CCZ) (LON:CCZ) geological review has demonstrated that Valparaisa prospect is prospective for structurally controlled copper mineralisation, thus enhancing the exploration upside of Mt Oxide Pillar in Queensland's Mt Isa copper-belt.

This is an encouraging interpretation as this style of mineralisation is apparent at the Mammoth deposit within the producing Capricorn Copper Mine around 45 kilometres directly south.

Previous explorers, including BHP, undertook rock-chip sampling at Valparaisa which returned anomalous assayed results up to 2,530ppm copper.

There is also potential for some supergene copper mineralisation predominantly because of localised faulting and deformation of the stratabound copper horizons.

Review “continues to deliver dividends”

Managing director Simon Paull said: “The ongoing geological review at Mt Oxide Pillar continues to deliver dividends, with interpretation of the evidence highlighting potential prospectivity for structurally controlled copper mineralisation.

“This delivers another attractive target to investigate and cumulatively builds on the Mt Oxide project’s exploration upside.”

A detailed review of the geophysical imagery and the rock units discovered at the Valparaisa prospect highlighted:

  • The Mt Gordon fault zone (SW-NE) and Valparaisa (SSE-NNW) have the potential to host structurally controlled copper mineralisation; and
  • Rock units of the Whitworth Quartzite are intersected by the Valparaisa fault and offshoots of this fault, geologically comparable to copper sulphide mineralisation at the Mammoth deposit, which forms part of the Gunpowder Copper Mine.

Upcoming drill campaigns

While a field trip to the Valparaisa prospect is key to determining if there are any observable surface features for structurally controlled copper mineralisation, it delivers another highly prospective target which enhances exploration upside.

Work on logistics for the upcoming drilling campaigns at the Big One deposit and Arya prospect continues to gain momentum, thanks to joint input from CCZ’s geology team and Depco Drilling’s crew.

Exploration upside

So far, the Mt Oxide project geological analysis has delivered significant value-added insights and upside potential apparent across the nine prospects reviewed.

The final prospect, Eldorado, will complete the series.

Overall, this exercise has built a sizeable pipeline of work ahead and demonstrates the Mt Oxide Project delivers significant incremental exploration upside moving forward.

Next steps

Update on progressing the upcoming drilling program:

  • Further insights into mineralisation potential at the Big One deposit; and
  • Review of the Eldorado prospect.

Quick facts: Castillo Copper Ltd

Price: 0.048 AUD

Market: ASX
Market Cap: $48.57 m

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Castillo Copper: Shareholders' Q&A session

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