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Castillo Copper verifies high-grade copper and new gold mineralisation

Published by
Global Mining Review,


Castillo Copper Ltd, a base metal explorer primarily focused on copper across Australia and Zambia, has announced that it has verified high-grade copper and identified new gold mineralisation ahead of drilling at the Big One Deposit, within the company’s 100% owned Mt Oxide Project, Northwest Queensland, Australia.

Highlights

  • Castillo’s geology team has continued detailed field analysis at the Big One Deposit with 24 rock-chip samples collected from historic workings at the Big One Deposit, being reconciled against desktop re-ports which determined the following:
    • Interpreted most of the rock-chip samples to be from highly mineralised ore, comprising high-grade copper oxide and supergene mineralisation.
    • Specifically, observed copper mineralisation occurs as massive veinlets/crackfill veins, while at surface as malachite, azurite, cuprite and chalcocite.
    • Believe the previous operator excavated high-grade mineralised ore but never dispatched it for processing, possibly due to financial constraints at the time.
  • Field results were obtained using an XRF spectrometer on the rock chip samples:
    • Verified the presence of high-grade copper mineralisation, consistent with noted observations, subject to full laboratory analysis.
    • Detected a wide range of gold values which are potentially associated with copper mineralisation, subject to assay confirmation.
  • Full insights from the 24 rock-chip samples, which have been dispatched to the laboratory for a complete analysis, will be released once results are to hand.

Next steps

  • Commencement of drilling at the Mt Oxide Project.
  • In fill soil sampling for Mkushi Project in Zambia.
  • Review of Big One copper-gold rock chip assay results.
  • Review of Eldorado prospect within the Mt Oxide Project.

Simon Paull, Managing Director of Castillo Copper, commented: “These insights from the field analysis are very encouraging, especially verification that there is potentially widespread high-grade copper mineralisation across the strike event at the Big One Deposit. In addition, the growing possibility of coincident gold mineralisation adds further exploration upside and supports our belief that the deposit can generate significant value for stakeholders.”

Ged Hall, UK Director of Castillo Copper, added: “The dedicated work and resultant interpretations by our geology team continues to build a strong case for the Big One Deposit, especially the potential for it to be part of an enlarged mineralised system. Having now secured Depco Drilling’s service in this precious-base metal upcycle, we are excited for drilling to commence shortly at both the Big One Deposit and Arya Prospect.”

Read the article online at: https://www.globalminingreview.com/exploration-development/15092020/castillo-copper-verifies-high-grade-copper-and-new-gold-mineralisation/

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This article has been tagged under the following:

Australian mining news Copper mining news Gold mining news