Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Castillo Copper’s (CCZ) metallurgical test work confirms a copper upgrade for the Big One Deposit within the NWQ Copper Project in Queensland
  • Castillo’s best results included copper with a 0.72 per cent head-grade to 7.2 per cent post-test work
  • Further testing is now underway on samples from the Big One Deposit to determine the final optimal results
  • Moving forward, Castillo says it plans to undertake a third drilling campaign to extend the known mineralisation in the area, with a focus on a sizeable known bedrock conductor
  • Castillo Copper was up 8.33 per cent, trading at 1.3 cents at 11:17 am AEST

Castillo Copper’s (CCZ) metallurgical test work has confirmed a copper upgrade for the Big One Deposit within the NWQ Copper Project in Mt Isa, Queensland.

The company reported the results from initial preliminary metallurgical test work on samples from the Big One Deposit.  

Castillo’s best results from the test work included copper with a 0.72 per cent head-grade to 7.2 per cent post-test work.

The company said the beneficiation potentially transformed several ore samples into a copper concentrate with confirmed upgrades ranging from five times to 10 times for copper metal.

As such, Castillo Copper’s Managing Director Dr Dennis Jensen said the company’s board is delighted with the results.

“Moreover, receiving these initial results now is timely as the board is now ramping up efforts to secure a processing agreement and clear path to market,” Dr Jensen said.

Further testing is now underway on samples from the Big One Deposit to determine the final optimal results.

The deposit has already been significantly de-risked, thanks to its current global inferred mineral resource estimate of 21,886 tonnes contained copper metal.

Moving forward, Castillo said it plans to undertake a third drilling campaign to extend the known mineralisation in the area, with a focus on a sizeable known bedrock conductor north of the line of lode.

Incremental geophysical surveys will also be undertaken to identify fresh targets.

Castillo Copper was up 8.33 per cent, trading at 1.3 cents at 11:17 am AEST.

CCZ by the numbers
More From The Market Herald
The Market Herald Video

" Woomera Mining (ASX:WML) appoints Jason Livingstone as new Managing Director

Mineral explorer Woomera Mining (ASX:WML) has appointed Jason Livingstone as its new Managing Director, effective from…
The Market Herald Video

" Security Matters (ASX:SMX) enters into $2m standby equity facility

Security Matters (ASX:SMX) has entered into a standby equity deed with Evolution Capital.
The Market Herald Video

" Ora Gold (ASX:OAU) obtains unsecured $500k loan facility

Ora Gold (ASX:OAU) has obtained an unsecured $500,000 loan facility from Ioma to assist with general…
Baby Bunting (ASX:BBN) - Chair and Non Executive Director, Melanie Wilson

" Baby Bunting (ASX:BBN) surpasses $500m sales for the first time

Baby goods retailer Baby Bunting (ASX:BBN) surpasses half a billion dollars in sales for the first…