Dow Jones Newswires
Shares in Castillo Copper Ltd. rose Monday after it said it has confirmed high-grade copper and identified new gold mineralization at the Big One deposit within its Mt Oxide project in Australia.The copper-focused miner said it has found highly mineralized ore comprising high-grade copper and supergene mineralization ahead of the drilling campaign, and also detected a wide range of gold values. The findings arise from the analysis of 24 rock-chip samples which now have been sent to the laboratory for a complete analysis.
"These insights from the field analysis are very encouraging, especially verification that there is potentially widespread high-grade copper mineralization across the strike event at the Big One deposit. In addition, the growing possibility of coincident gold mineralization adds further exploration upside," Managing Director Simon Paul said.
The company said the drilling campaign at Big One and the Arya prospect will start shortly.
Shares at 0719 GMT were up 0.35 pence, or 14%, at 2.80 pence.
