Castillo Copper has appointed two key service providers to accelerate the next phase of development at the new copper discovery at Big One Deposit at its Mt Oxide Project north-west of Mount Isa.
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Following confirmation of the new high-grade copper discovery at Big One Deposit Castillo said it was expediting the next phase of development as follows:
They have appointed geology consultancy ROM Resources to leverage legacy and current data to model up a maiden JORC compliant inferred resource.
They have also appointed geophysics consultancy GeoDiscovery Group to undertake an extensive geophysical survey, which will identify massive sulphide bedrock conductors along the 1200m strike and provide geophysical insights into several known yet under-explored nearby anomalies.
Castillo have told the ASX that once the survey results are known, the geology team should be able to further refine and optimise the drilling campaign to increase the probability of intersecting mineralisation and the geology team are working on a comprehensive update of the Big One Deposit which is expected to be released soon.
Simon Paull, Managing Director of Castillo Copper, said the company was optimistic Big One Deposit has the potential to scale.
"Based on the evidence to date, the Board is increasingly optimistic Big One Deposit can be fully developed," Mr Paull said.
"We are now moving aggressively to extend known mineralisation, identify new targets and prove up an inaugural resource."
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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.
