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- Copper explorer Castillo Copper (CCZ) sees “encouraging” initial results from its drilling campaign at the Big One Deposit, within the Mt Oxide project in Queensland
- Copper mineralisation has been found in the first three holes at Big One, with results include up to 17.5 metres thick
- Additionally, initial DHEM survey results suggest that the density of copper mineralisation intersected is potentially higher than expected
- Castillo will continue to drill at the project, with 23 holes remaining
- On the market this morning, Castillo is up 5.56 per cent and is trading at 3.8 cents per share
Castillo Copper (CCZ) has seen “encouraging” initial results from its drilling campaign at the Big One Deposit, located in the Mt Oxide project.
Copper mineralisation has been found in the first three holes at Big One up to 17.5 metres thick.
Additionally, initial DHEM survey results have suggested that the density of copper mineralisation intersected is potentially higher than expected.
“Factoring in the IP survey results to our re-designed drilling campaign at the Big One Deposit has delivered excellent initial results, with significant mineralisation intersected,” Managing Director Simon Paull said.
“Moreover, the DHEM survey results now suggest the density of the underlying copper mineralisation is greater than the board initially expected. Holistically, the board is delighted with these early results, as our core goal over the course of the campaign is to significantly extend known mineralisation.”
While the new hits have extended mineralisation, the company is waiting until the assays are returned and thoroughly analysed by the geology team to provide further insights.
There are 23 holes remaining in the current drilling program, and the company is also finalising logistics for drilling at the Arya and Sansa Prospects.
On the market this morning, Castillo is up 5.56 per cent and is trading at 3.8 cents per share at 10:04 am AEST.
