- Castillo Copper (CCZ) has confirmed the presence of a supergene orebody at multiple sites in the Mount Isa copper belt
- A comprehensive review of the Big One Deposit and Boomerang Mine verified they are highly prospective priority targets
- Results grading more than 12 per cent copper were intercepted
- The company will now put together a timeline to conduct a thorough site visit at both areas
- Castillo Copper’s share price has jumped 23.9 per cent in the green with shares currently trading for 2.9 cents apiece
Castillo Copper (CCZ) has confirmed the presence of a supergene orebody at multiple sites in the Mount Isa copper belt.
A comprehensive review of the Big One Deposit and Boomerang Mine verified they are highly prospective priority targets.
However, more exploration work needs to be undertaken at the sites to define the potential scale and size of any underlying orebodies.
Big One Deposit
In 1993, WME (West Australian Metals) completed a reverse circulation (RC) drilling campaign at Big One which comprised of 27 drill-holes.
A standout intercept of 3 metres at 12.25 per cent copper from 42 metres, including 2 metres at 17.87 per cent copper from 43 metres and 1 metre at 28.40 per cent copper from 44 metres, was produced.
Other notable intercepts include 1 metre at 3.63 per cent copper from 47 metres, 5 metres at 3.28 per cent copper from 45 metres, and 2 metres at 3.19 per cent copper from 46 metres.
According to historic reports, the mineralisation underpinning the significant drilling intercepts is supergene copper ore that includes malachite, azurite cuprite and tenorite.
These have been observed in ore dumps at the surface, and in various accessible, shallow open pit workings.
“The copper grades found at the Big One Deposit are excellent and clerkly highlight the potential upside apparent from developing the Mt Oxide pillar,” London-based Director Ged Hall commented.
“More significantly, the timing is near text-book as we work towards securing regulatory approval to dual list Castillo Copper on the Standard Board of the London Stock Exchange,” he added.
Boomerang Mine
A review of legacy mineral production records at the Boomerang Mine from 1944 to 1974 verified that approximately 4211.2 tonnes of oxide ore had been mined grading a significant 6 per cent copper, producing 250.9 tonnes of copper metal.
Finding this data is an encouraging start for Castillo Copper, however, it’s crucial to determine the optimal next steps in developing a staged exploration campaign for investigating the mine.
The company is now focusing on putting a timeline in place to conduct a comprehensive site visit to the Big One Deposit, Boomerang Mine, and Arya Prospect as all three reinforce the importance of developing the Mt Oxide pillar.
Castillo Copper’s share price has jumped 23.9 per cent with shares trading for 2.9 cents apiece at 12:34 pm AEDT.