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- Castillo Copper (CCZ) says it is now fully-funded to launch a drill program at its Mt Oxide Pillar in the Mt Isa copper-belt of northwest Queensland
- The Mt Oxide Pillar hosts the Big One Deposit and the Arya Prospect, which will be the focus of the upcoming drill program
- As part of pre-drilling work, the company’s geology team visited the Big One Deposit and noted a prominent shear zone and surface outcrop with visible copper mineralisation
- The company now expects to appoint a drilling contractor for the program and carry out reviews at the Valparaisa and Eldorado prospects within the Mt Oxide Pillar
- Castillo Copper shares are 3.19 per cent higher today, trading for just under five cents each
Castillo Copper (CCZ) says it is now fully-funded to launch a drill program at its Mt Oxide Pillar in the Mt Isa copper-belt of northwest Queensland.
The Mt Oxide Pillar hosts the Big One Deposit, which was recently assessed by the company’s geology team as part of its pre-drilling activities. As a result, Castillo Copper has confirmed the presence of a prominent shear zone and surface outcrop with visible copper mineralisation.
Proposed drill work at the deposit will focus primarily on extending known mineralisation where a previous reverse circulation program returned significant results. These results include up to 28.4 per cent copper along a 600-metre strike of surface mineralised porphyry.
In addition to the Big One Deposit, the Mt Oxide Pillar hosts the Arya Prospect, which Castillo Copper also plans to drill. Exploration activities in this region, which lies south-east of the Big One Deposit, will focus on an interpreted potential massive sulphide from a large geophysical conductor.
Simon Paull, Managing Director of Castillo Copper, said the commencement of drilling at the Mt Oxide Pillar will be a pivotal moment in the company’s evolution.
“Our objective is to extend known high-grade copper mineralisation at the Big One Deposit and test drill the enormous 130-metre-thick interpreted potential massive sulphide target at the Arya Prospect,” Simon commented.
“Thereafter, the focus shifts to eight additional prospects within the Mt Oxide Pillar, which reflects the substantial exploration upside this asset delivers,” he added.
Castillo Copper is currently engaged in a tender evaluation process for a drilling contractor, and expects to offer further clarity regarding the timeline of the program once this has been completed.
In addition, the company intends to conduct exploration reviews at the Valparaisa and Eldorado prospects, which also sit within the Mt Oxide Pillar.
Castillo Copper shares are 3.19 per cent higher today, trading for just under five cents each at 11:01 am AEST.
