Castillo Copper Ltd (ASX:CCZ) (LON:CCZ) (FRA:70R) has finalised plans for an expanded drilling campaign at Big One deposit within the Mt Oxide Project in northwest Queensland, which will comprise 26 drill holes for 2,828 metres compared to the 2020 drilling program of 21 reverse circulation holes for 1,467 metres.
Logistical support for the upcoming campaign is in place, while the drilling crew is slated to arrive and begin work within the next one to two weeks.
Factoring in the recent geophysics survey that comprised six 500-700 metre lines across the 1,200-metre strike, the program is designed to extend mineralisation and build on previous drill results.
These results include:
- 40 metres at 1.64% from surface, including 11 metres at 4.40% from 24 metres, 5 metres at 7.34% from 28 metres and 1-metre at 16.65% from 29 metres;
- 44 metres at 1.19% copper from surface, including 14 metres at 3.55% from 27 metres, 3 metres at 10.88% from 37 metres and 1-metre at 12.6% from 37 metres; and
- 34 metres at 1.51% copper from surface, including 21 metres at 2.25% copper from surface, 12 metres at 3.44% from 3 metres, 6 metres at 4.79% from 3 metres and 1-metre at 9.4% from 9 metres.
“Optimistic value can be created”
Managing director Simon Paull said: “Reconciling geophysics findings with legacy drilling and geochemical data should enable CCZ’s geology team to design effective drilling campaigns for the Big One Deposit, Arya and Sansa prospects with a high degree of confidence.
“Consequently, as we progress through several phases of exploring the Mt Oxide Project over the balance of 2021 the board is optimistic value can be created for all stakeholders.”
In readiness for the next phase of the campaign, which will see drilling move on to the Arya and Sansa prospects, the geology team is reviewing all key data points to ensure optimal results.
Notably, there are several bedrock conductors across these two prospects that are prime drill-test targets including EG01 – which is interpreted to be 130 metres thick, 1,500 metres by 450 metres, and around 430 metres deep.
Line 3- newly identified bedrock conductors
Further, there are surface soil and rock chip copper anomalies to support the shallower conductors, EG02 & EG10.
The concurrent next steps CCZ’s team is working on is as follows:
- Ensuring logistics are in place so the drilling crew can deploy to site within the next 1-2 weeks so work can commence at the Big One Deposit; and
- Finalise the design of the drilling program for the Arya and Sansa prospects.