Castillo Copper Ltd (ASX:CCZ) (LON:CCZ) (FRA:7OR) continues to enhance the copper potential of Big One Deposit within the core Mt Oxide Project in northwest Queensland by intersecting incremental shallow, visible copper oxide (malachite) and sulphide (chalcocite) mineralisation, with cumulative intercepts up to 12 metres.
Observations from a further six holes completed complement preliminary assay results for visually logged mineralised intersections in four of the seven drill-holes completed in the first tranche.
All six holes have intersected copper oxide and/or sulphide, highlighting the potential for extensions to known mineralisation at depth and underpinning a more compelling case for scalability at Big One.
Castillo Copper managing director Simon Paull said: “Confirming shallow, visible copper oxides and sulphides across six drill holes to intercept widths up to 12 metres is an outstanding result.
“Encouragingly, it continues to build a compelling case for the scalability of the Big One Deposit and potential for known mineralisation to be extended at depth.
“Once the current campaign is complete, the board’s strategic goal is to model up a JORC-compliant resource for the Big One Deposit, then commence applying for a mining lease.”
Significant further potential upside
Castillo Copper’s UK-based director Ged Hall added: “We continue to build a compelling case for the Big One Deposit, as wide shallow intercepts with visible copper mineralisation is precisely the desired outcome.
“There are still a further 22 drill-holes to complete in the current campaign, which delivers significantly further potential exploration upside ahead.”
Key insights and interpretations determined by CCZ’s geology team from reviewing the six drill-holes completed comprise:
➢ Two-to-three zones of copper mineralisation are apparent within BO_301RC through to 306RC;
➢ Malachite & chalcocite, apparent within BO_301RC, is within the supergene/transitional zone below the oxide layer and relatively close to historic workings;
➢ With chalcocite, pyrite and haematite observed, BO_303RC / BO_304RC are likely in the transitional zone; and
➢ Identifying haematite and quartz alteration is significant, as large Mt Isa Block deposits are known to have haematisation and silicification linked with copper mineralisation.
The full assay results for the seven drill-holes are being finalised at the laboratory and are expected to be returned shortly.
The company will provide an update on the next batch of assay results, further drilling logs and complete the Big One Deposit campaign before moving on to Arya Prospect.