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- Following improving weather conditions, Castillo Copper (CCZ) is set to resume exploration at the Mt Oxide Project this month
- Once work resumes, a geophysical survey will be undertaken at the Big One Deposit to extend the mineralisation and uncover anomalies
- When these activities are completed and results have been received, drilling will be undertaken at Big One then move to the Arya Prospect
- Castillo Copper is up 2.38 per cent and shares are trading at 4.3 cents
Following improving weather conditions, Castillo Copper (CCZ) is set to resume exploration at the Mt Oxide Project this month.
The Mt Oxide Project lies in the Mt Isa copper-belt district in northern Queensland and a recent grant from the Department of Resources has increased the size of the project by 23 per cent to 980 square kilometres.
Once operations resume at the project, a geophysical survey will be undertaken at the Big One Deposit with focus on extending the mineralisation and uncovering anomalies.
When these activities are completed and results have been received, drilling will be undertaken at Big One then move to the Arya Prospect to test bedrock conductors.
Additionally, ongoing work has identified 11 targets at Mt Oxide, which are prospective for various styles of copper-gold mineralisation.
This has brought the total amount of targets to 21 which presents a significant pipeline of work for Castillo Copper.
“Behind the scenes our geology team has been flat out readying for a resumption of exploration work at the flagship Mt Oxide Project,” Managing Director Simon Paull commented.
“The board is targeting to have drilling teams back to site as soon as practical to complete work at the Big One Deposit the commence at the Arya Prospect,” he said.
“Holistically, with 21 targets across the Mt Oxide Project, CCZ now has a significant pipeline of copper-focused exploratory work ahead, coinciding with an impending global supply deficit,” he added.
Updates will continue to be made as work progresses.
Castillo Copper is up 2.38 per cent and shares are trading at 4.3 cents at 1:11 pm AEST.
