7 October 2024
CASTILLO COPPER
LIMITED
("Castillo" or the
"Company")
Surface Assays Increase
Priority Copper Target Area at Big One Deposit
Castillo Copper Limited (LSE and
ASX: CCZ), a base metal explorer primarily focused on copper across
Australia and Zambia, is delighted with the
findings from the recent surface sampling campaign which has
increased the priority copper target area at the Big One Deposit
proximal to the line of lode, historical workings and known
orebody.
Highlights:
·
Completed a comprehensive surface sampling
campaign at the Big One Deposit, within the NWQ Copper Project in
the Mt Isa copper-belt, which delivered encouraging results and
increased the target area:
o Assayed surface samples (including rock chips up to 12% Cu)
verified a significant anomaly that suggests copper mineralisation
extends west along strike from historical workings and the known
orebody
(Note: Big One Deposit Mineral
Resource Estimate: 2.1Mt @ 1.1% Cu for 21,886t contained copper
metal)1
o Further, the assays indicated potential for copper
mineralisation to extend south and to the east of the line of
lode
o Pleasingly, reconciling the new geochemical results with
historical geophysical findings, validated known induced
polarisation conductivity anomalies north of the line of
lode
·
To gain further insights and geological
understanding of the Big One Deposit, especially copper-bearing
faulting trends, the field team completed a comprehensive mapping
exercise
·
As a result, the geology team, post-reconciling
the new geochemical inputs with legacy data, now has sufficient
information to select priority targets for test-drilling that can
potentially extend known mineralisation across an expanded
area
Ged
Hall, Chairman, commented: "The systematic surface
sampling campaign around the Big One Deposit delivered encouraging
results. Notably, the assays confirmed significant anomalous copper
zones west of the known orebody, complemented with indications of
incremental mineralisation to the south and east. Furthermore,
completing a comprehensive mapping exercise has provided the
geology team with deeper insights into localised copper-bearing
faulting trends. Consequently, there are now more than sufficient
data points to develop a comprehensive drilling campaign that has
the potential to extend known
mineralisation."
ENLARGED PRIORITY COPPER TARGET AREA
Based on previous drilling campaigns
and utilising historical data, the Big One Deposit's current MRE is
2.1Mt @ 1.1% Cu for 21,886t contained copper
metal1.
The assayed surface samples, which
include rock chips up to 12% Cu, verified a significant anomaly
that suggests copper mineralisation extends west along strike from
historical workings and the known orebody (Figure 1 and Appendix
A-C). Furthermore, the assays suggest the potential for copper
mineralisation to extend south and to the east of the line of
lode.
Incrementally, the fresh geochemical
results validated known induced polarisation conductivity anomalies
that are north of the line of lode.
FIGURE 1: ENLARGED COPPER TARGET AREA AT BIG ONE
DEPOSIT
Source: CCZ geology team (Reference
2 and Appendix A)
As the field team were at the Big
One Deposit for three days, they were able to complete a
comprehensive mapping exercise to gain further insights and
geological understanding of the copper-bearing faulting
trends.
Next Steps
Reconciling the new geochemical data
from the surface sampling campaign with legacy information will
enable the geology team to select viable targets to test-drill
which have the potential to extend known mineralisation.
For
further information, please
contact:
Castillo Copper Limited
|
+61 8 6558 0886
|
Gerrard Hall (UK),
Chairman
|
|
|
|
SI
Capital Limited (Financial Adviser
and Corporate Broker)
|
+44 (0)1483 413500
|
Nick Emerson
|
|
|
|
Gracechurch Group (Financial
PR)
|
+44 (0)20 4582 3500
|
Harry Chathli, Alexis Gore, Henry
Gamble
|
|
References
1) CCZ ASX Release
- 28 February 2022
2) Porter, M.,
2024, Memo of Big One Field Inspection, Global Ore Discovery,
unpublished report, August 2024, 33pp.
About Castillo Copper
Castillo Copper Limited is an
Australian-based, Australian-focussed copper exploration Company
with a strategy to develop multi-commodity assets that demonstrate
future potential as an economic mining operation.
Through the application of
disciplined and structured exploration and analysis, Castillo
Copper has identified assets deemed core to the Company's sustained
growth and is actively progressing these interests up the value
curve.
Current focus will be on advancing
exploration activity at the Company's wholly owned NWQ Project,
situated in the copper-belt district approximately 150km north of
Mt Isa in north-west Queensland.
Other interests include the Broken
Hill Project in western New South Wales and the Cangai Copper Mine
in north-east New South Wales, as well as exploration targets in
Zambia.
Castillo Copper is listed on the LSE
and ASX under the ticker "CCZ".
Competent Person's
Statement
I, Mark Biggs, confirm that I am the
Competent Person for the Competent Person Report from which the
information to be publicly released has been obtained and confirm
that:
· I have
read and understood the requirements of the 2012 Edition of the
Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (JORC Code, 2012 Edition) and the
relevant sections of Chapter 5 and Guidance Note 31 from the ASX
Listing Rules.
· I am a
Competent Person as defined by the JORC Code 2012 Edition, having
35 years of experience that is relevant to the copper
mineralisation types, quality and potential mining method(s) of the
deposit(s) described in the Report. In addition, I have 21
years of experience in the estimation, assessment and evaluation of
Exploration Results and Mineral Resource Estimates, the activity
for which I am accepting responsibility.
• I am a Member of The Australasian Institute of Mining and
Metallurgy (Member # 107188).
· I have
reviewed the Report or Excerpt from the Report to which this
Consent Statement applies.
· I am a
consultant working for ROM Resources and have been engaged by
Castillo Copper Limited to prepare the documentation for the Big
One Deposit on which the Report is based.
In addition:
· I have
disclosed to Castillo Copper Limited the full nature of the
relationship between myself and the Company, including any issues
that could be perceived by investors as a conflict of
interest. Mr Biggs is a director of ROM Resources, a company
which is a shareholder of Castillo Copper Limited. ROM
Resources provides ad-hoc geological consultancy services to
Castillo Copper Limited.
· I
verify that the Report is based on and fairly and accurately
reflects in the form and context in which it appears, the
information in my supporting documentation relating to Coal
Resources.
I consent to the release of the
Report and this Consent Statement by the Directors of Castillo
Copper Limited.
APPENDIX A: JORC CODE, 2012 EDITION - TABLE
1
The following JORC Code (2012
Edition) Table 1 is supplied to provide background for the recent
geological mapping, soil, and rock chip sampling program at the
'Big One' Deposit, EPM 26574.
The reader of the current ASX
Release is referred to the Castillo's other publications of the
exploration results, diagrams, geological information, exploration
planning activities and/or information contained in the body or
appendices of the following Castillo ASX Releases:
·
"Field analysis
verifies high-grade copper with newly identified gold
mineralisation at Big One" released on the ASX by Castillo on the
14-Sep-2020.
·
"Plans underway
to fully develop the big one deposit in the world-class Mt Isa
copper belt", released on the ASX by Castillo on the
14-May-2024.
·
"Chief Geologist
outlines plans for big one deposit surface sampling campaign",
released on the ASX by Castillo on the
24-May-2024.