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- Castillo Copper (CCZ) has reported a maiden JORC-compliant mineral resource estimate (MRE) for the Big One deposit which is part of the Mt Oxide project in Queensland
- The Big One Deposit has a maiden MRE of 2.1 million tonnes at 1.1 per cent copper for 21,886 tonnes and 1.2 g/t silver for 2459 kilograms
- Castillo says a key feature of the deposit is the copper orebody commences from surface and is open to the east, north and down dip
- Once ground conditions allow, Castillo Copper plans to conduct drilling to extend the copper orebody
- Company shares are trading steady at 1.9 cents
Castillo Copper (CCZ) has reported a maiden JORC-compliant mineral resource estimate (MRE) for the Big One deposit in Queensland.
The Big One Deposit, part of the broader Mt Oxide project, has a maiden MRE of 2.1 million tonnes at 1.1 per cent copper for 21,886 tonnes of contained metal. There are also an estimated 2459 kilograms (2.1 million tonnes at 1.2 grams of per tonne (g/t) of contained silver metal credits.
The company completed the maiden resource using data from reverse circulation (RC) and diamond drilling programs undertaken over the course of 2020 and 2021.
Castillo believes an important feature of the deposit is that the copper orebody begins from surface. The company said this will be significant if or when the area is fully developed. However, the full extent of the underlying orebody is yet to be determined as it remains open to the east, north and down dip.
The company is planning to undertake further drilling to extend the copper orebody. Specifically, this work will include infill drilling around the known orebody and drill-testing a significant bedrock conductor which is larger than the orebody along strike.
The program will reportedly begin once ground conditions allow.
In addition to Big One, Castillo Copper’s geology team is working on delivering a JORC-complaint MRE for the BHA project in New South Wales.
It will then review the Cangai copper mine which currently has an inferred resource of 3.2 million tonnes at 3.35 per cent copper for 108,000 tonnes of contained metal.
Company shares were trading steady at 1.9 cents at 1:31 pm AEDT.
