Castillo Copper Ltd has provided an update on the RC drilling campaign at Big One Deposit and reiteration of strategic forward plans.
- During 4Q20, the drilling contractor completed 20 drill-holes at the Big One Deposit comprising of:
- Six drill-holes for the 200 series with partial assays for visible copper confirming up to 4.1% copper (Cu).
- 14 drill-holes for the 300 series with visible copper mineralisation apparent in BO_301-06RC.
- Subject to the receipt of final interpretations and full assays from the laboratory, the board is targeting to release complete drill logs and relevant observations for all 20 drill-holes – in two to three batches – shortly.
- Holistically, with geological interpretations of historic and fresh assays suggesting a shallow, high-grade scalable copper system apparent at the Big One Deposit, the board is prioritising the following for 1H21.
- Conduct a comprehensive geophysical campaign to identify potential massive sulfide conductors that would extend known mineralisation and provide new test-drill targets along the strike extent.
- Complete the current campaign as soon as practical then move onto the Arya Prospect.
- Commence work on modelling up a JORC compliant resource at Big One Deposit then, subject to results of the modelling, apply for a new mining lease.
- Overall, the board is delighted with the progress of the drilling campaign to date and will keep shareholders informed of news as it materialises.
Castillo Copper’s Managing Director, Simon Paull, commented: “Having completed 20 drill-holes of the current drilling campaign, the board is delighted about the potential of the Big One Deposit. Further, the board is optimistic 2021 will be a transformative year and that significant value can be created for shareholders as the Mt Oxide Project is developed.”
RC drilling campaign – progress report
During 4Q20, the contractor completed 20 drill-holes at the Big One Deposit, comprising six from the 200 series and 14 from the 300 series. To date, partial assays for visible copper has been received for the 200 series, with up to 4.1% Cu confirmed. For the 300 series, visible copper mineralisation has been noted for six drill-holes – BO_301-06RC.
The full assay results for all twenty drill-holes, which includes interpretations and relevant observations, is expected back from the laboratory, in two to three batches, shortly. Ramping up
With geological interpretations of current and historic data suggesting a shallow, high-grade scalable copper system apparent at Big One Deposit, the board has prioritised forward plans for 1H21 which include:
- Undertaking a comprehensive geophysical survey to identify potential massive sulfide bedrock conductors that would extend known mineralisation and provide incremental test-drill targets along the strike extent.
- Finish the current RC drilling campaign as soon as practical then move onto the Arya Prospect.
- Start work on modelling up a JORC compliant resource at Big One Deposit and then, subject to the results of modelling, apply for a fresh mining lease.