A review of historical data relating to Castillo Copper's Big One deposit and Boomerang mine 200km north of Mount Isa has confirmed the presence of a supergene orebody, with potentially greater upside on definition of the size and scale of any underlying deposits.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Original logs and assay results obtained from a 1993 drilling campaign at Big One by previous owner West Australian Metals showed "excellent economic intercepts" grading up to 28.4% copper.
Among the results was a 3m intercept at 12.25% copper from 42m, including 2m at 17.87% from 43m and 1m at 28.4% from 44m.
The intercepts demonstrated the Big One mineralisation to be at shallow depth and along a 600m strike zone.
Historic production records for Boomerang verified that 4211.2 tonnes of oxide ore was mined from 1944 to 1974, grading approximately 6% copper, with output of 250.9t copper metal.
Castillo said the historic data is an "encouraging start", however fieldwork is imperative to determine the next steps in developing a staged exploration campaign for investigating Boomerang.
Managing director Simon Paull said the historical data results would be a "tremendous windfall" for the company's exploration efforts in the region.
"Our geology team now has ample data points to start formulating a drilling campaign to re-test and potentially expand the known ore body at these targets," he said.
"This would be a great start to developing the high-priority Mt Oxide pillar and creating incremental value for our shareholders."
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.
Glencore, Rio Tinto and Newcrest also have prospects in the area.
While you are here subscribe to our weekly email to your inbox at 6am every Friday
Derek Barry
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
