Castillo Copper Limited says it has found visible copper oxide at its Mt Oxide project in North West Queensland.
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Castillo told the ASX visible copper oxide (malachite) and sulphide (chalcocite) mineralisation was observed at shallow depths after viewing samples from the first seven drill-holes at the Big One Deposit at its Mt Oxide Project.
Castillo said iIntercepts containing malachite and chalcocite mineralisation are wide ranging from 9m to 13m, enhancing the potential scale of the Big One Deposit:
They said the remainder of the drilling campaign will be re-orientated to factor the underlying mineralisation is believed to be more steeply aligned than initially modelled
With 28 drill-holes still to complete, the Big One Deposit offers significant exploration potential and after they complete the RC drilling campaign at Big One Deposit they will move on to the nearby Arya Prospect
Simon Paull, Managing Director of Castillo Copper, said hitting visible copper oxide and sulphide mineralisation at shallow depths in the first phase of an extensive drilling campaign was exceptional.
"More encouraging, however, is the indicative size of the intercepts at Big One Deposit which range from 9m to 13m in work undertaken to date," Mr Paull said.
"The Board is delighted with this early success and looks forward to receiving the assay results. More importantly, however, with a further 28 drill-holes to complete, there is still significant exploration upside ahead."
Castillo is targeting the development of a viable copper mining operation at the Mt Oxide Project 150km north of Mt Isa near Lady Annie and Capricorn Copper.
Currently, the main highlight within the Mt Oxide Project is the exploration targets known as the Big One Deposit, which comprises shallow high-grade supergene ore up to 28.4% copper, and the Arya Prospect, which was identified through an airborne electromagnetic survey conducted by Geoscience Australia in March 2019.
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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.
