AN independent geology consultant has re- affirmed Castillo Copper Limited’s (ASX: CCZ) confidence that there are IOCG and Mt Isa style mineralisation targets within the company’s Mt Oxide project in Queensland.
After reviewing >15,000 assay values across >3,000 historic data point points, the independent geology consultant is currently focusing on eight prospects with varying mineralisation styles.
Castillo Copper’s Managing Director Simon Paull said the prospects have the potential to deliver high-grade, near surface deposits suitable for multiple satellite open-pit operations with each feeding into an onsite or third-party processing facility.
The work has also been able to define preliminary test-drill targets for most of the prospects.
“Ongoing work by CCZ’s independent geology consultant has reaffirmed the Mt Oxide pillar has several scalable IOCG and Mt Isa style mineralisation targets,” Mr Paull said.
“Encouragingly, the vast quantum of data uncovered has enabled preliminary walk-up drill targets to be identified for most of the eight prospects currently in focus.”
The Mt Oxide project is considered Castillo’s number one “Pillar” asset. It is located in the Mt Isa copper-belt district of north-west Queensland, which the company believes delivers significant exploration upside through having several high-grade targets and a sizeable untested anomaly within its boundaries in a copper-rich region.
Castillo’s London-based Director, Gerrard Hall, says the story out of the Mt Oxide pillar continues to impress, with excellent news on IOCG potential and prospects with drill-test ready targets.
Encouragingly, this new evidence continues to reinforce the Mt Oxide pillar delivers multiple targets with upside potential.”
One of the initial targets to be identified has been labelled the “Wall”.
A Mt Isa style prospect located in the northern quadrant, it has an anomalous zone (400m by 225m) with soil samples that assayed up to 7,163ppm Zn, 2,023ppm Pb and 1,464ppm Cu coincident with an aerial GEOTEM conductor.