Simon Paull, Managing Director of Castillo Copper, said: “We are delighted to have completed our dual listing on the London Stock Exchange (4 August 2020) a milestone for the Company and one that will help us drive the business forward towards our goal to become a mid-tier copper producer.
The Company’s strategy focuses on resource exploration projects that have the potential, through the application of disciplined and structured exploration and analysis, to be progressed towards the development of a mining operation. The dual listing will support the Company’s aim to transform the business into a mid-tier copper producer.
The three main projects across Australia and Zambia include:
· The Company’s flagship project is the Cangai Project in northern New South Wales, where the Cangai Copper Mine is located, one of Australia’s highest grading historic copper mines. The Company’s core focus is the development and expansion of the Cangai Copper Mine, which comprises a volcanogenic massive sulphide deposit, with a JORC Code compliant Inferred Resource of 3.2Mt at 3.35 per cent. Cu and up to 14.45 per cent. Cu in assayed diamond core intersections.
Mt Oxide Project
· Castillo is targeting the development of a viable copper mining operation at the Mt Oxide Project, which has significant exploration upside with several high-grade targets including an interpreted 130m thick by 1,500m by 450m massive sulphide bedrock conductor that is about to be drilled. The project is located approximately 150km north of Mt Isa in northwest Queensland. The project is within the proximity of several historic and currently operating copper mines including Lady Annie and Capricorn Copper.
· The Company is the sole shareholder of Zed, an Australian company which holds four high-quality prospective assets across Zambia’s copper-belt, the second largest copper producer in Africa. Castillo Copper intends to initially focus on the Luanshya Project, which sits on the Zambian copper belt’s Lufilian Arc geological structure. The second priority for the Company is the Mkushi Project, which contiguously surrounds an operating open-pit copper mine, in a region proven to be highly prospective for Cu-Au mineralisation. The Company is currently working towards establishing a Zambian in-country presence, utilising local geologists and joint venture partner teams.
Castillo verifies high-grade copper and identifies new gold mineralisation at Big One Deposit
Fieldwork demonstrates potential for widespread high-grade copper mineralisation and coincident gold mineralisation ahead of drilling campaign
On the 14th September Castillo Copper Limited (LSE: CCZ; ASX: CCZ), a base metal explorer primarily focused on copper across Australia and Zambia, 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.
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, said: “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.”
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