- Castillo Copper (CCZ) is gearing up to drill test the 130 metre target at the Arya prospect within the Mt Oxide Project in Queensland
- The company says all the logistics are in place to begin work in September, targeting the EG01 anomaly first discovered by BHP (BHP)
- Re-processing data shows the anomaly is shallower than first thought, only 100 to 200 metres deep, as well as 1500 metres long and 450 metres wide
- CCZ is also awaiting assays from a recent drilling campaign carried out at the Big One deposit at Mt Oxide
- Shares in Castillo Copper are up 5.71 per cent at 3.7 cents each at 11:18 am AEST
Castillo Copper (CCZ) is preparing to drill test the 130 metre target at the Arya prospect within the Mt Oxide Project in Queensland.
The materials stock said on Tuesday it had all the logistics in place to begin work in September.
CCZ plans to target the EG01 anomaly, which was first discovered by BHP (BHP) back in the 1990s.
Re-processing data has shown the anomaly was located in a more shallow position than first thought, between 100 metres to 200 metres deep.
The anomaly has been estimated to be 1500 metres long, 450 metres wide and 130 metres thick.
Castillo Copper’s Managing Director Simon Paull said the company was excited to begin testing the anomaly.
“We are on track to commence drilling the prime Arya Prospect during September,” Mr Paull said.
“Encouragingly, recent work by our geophysicist consultant has uncovered
new insights which make the case for drilling the Arya Prospect even more
compelling, especially as interpretation of the sizeable EG01 anomaly shows it is materially shallower than previously estimated.”
Along with drilling at Arya, Castillo recently carried out drilling at its Big One deposit in Mt Oxide and is awaiting assays from the program.
Company shares were trading up 2.86 per cent at 3.6 cents each at 10:59 am AEST.