Castillo Copper Ltd's geology team will visit Mt Oxide Copper Project 150 kilometres north of Mount Isa while SRK Consulting will also undertake a field trip in preparation for Castillo's London Stock Exchange dual listing.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Castillo aims to develop a copper mining operation at Mt Oxide, which is in an area that hosts a number of historical and operating copper mines.
An aero electromagnetic survey has identified the Arya Prospect, which is the Mt Oxide Project's top target.
The electromagnetics suggest a possible copper sulphide orebody and this is supported by rock chips grading up to 1.84% copper located near the sit.e.
Castillo's managing director Simon Paull said while the potential quantity and grade of the exploration target was conceptual in nature, there was insufficient exploration to estimate a Mineral Resource.
"The geology team has planned several site visits over the balance of the year that will follow up geochemical sampling, and geophysical surveys on known Exploration Targets to facilitate an inaugural test drilling campaign," Mr Paull said.
"In addition, a team from SRK Consulting will be undertaking a field trip as part of the London Stock Exchange listing requirements for an independent geology report to be produced."
BHP originally discovered the bedrock conductor in 1997 and recommended follow up drilling after a first pass ground electromagnetic survey but this never happened.
The upcoming field trips will be used to conduct pre-drilling exploration including mapping, soil and rock chip geochemistry and additional surveys to formulate the maiden drill program.
Arya is the highest priority target with over 5000 surface samples collected with multiple anomalous copper-cobalt samples across the project.
The project is not to be confused with the old Mt Oxide copper mine which shut down in the 1980s and is now an abandoned mine site.
In April 2017, the nearby Capricorn Copper Mine at Gunpowder was reopened after a four year hiatus with plans to generate 30,000 tpa of metal concentrate over a 10-year mine life.
Castillo said Capricorn's successful reopening was a vote of confidence in the region and support their objective to develop a copper mine at the Mt Oxide project.
While you are here subscribe to our weekly email to your inbox at 6am every Friday