• Castillo Copper (CCZ) is getting set to drill two key areas at its Mt Oxide project in northwest Queensland
  • The company has pegged 35 drilling sites at the Big One deposit, with fieldwork revealing visible copper mineralisation at surface
  • The company will undertake further fieldwork and site pegging at the Arya prospect ahead of the upcoming drilling program
  • With all regulatory approvals in place, all that's left to do is appoint the drill contractor
  • The company will also review two other promising prospects ahead of a future drilling campaign
  • Castillo Copper is trading 4.9 per cent higher this morning at 4.3 cents

Castillo Copper (CCZ) is getting set to drill two key areas at its Mt Oxide project in northwest Queensland.

The Big One

Castillo has pegged 35 drill sites at the Big One deposit in readiness for the upcoming drilling campaign.

While in the field, the company's geology team collected rock chip samples and inspected old workings. There they found signs of supergene oxide (malachite) and massive sulphide (chalcocite) mineralisation at surface, along with visible veins of massive sulphides.

All signs seem to point to the presence of high-grade copper mineralisation across
the Big One Deposit.

In terms of logistics, all necessary approvals have been granted for the drilling campaign and the site access track has been completed.

The tendering process for the drilling contract is almost finished, with two prospective providers still in the race.

Arya

Castillo's geology team will next undertake a similar program of pegging drill sites and conducting fieldwork at the Arya prospect.

The company will be hoping the surface geology at Arya offers similar promise to what was found at Big One.

Castillo Copper's Managing Director, Simon Paull, says all systems are go at Mt Oxide.

"Thanks to the dedicated hard work of our geology team, we are now clearly across
logistics and regulatory approvals," Simon said.

"We are now fully prepared to move forward with our planned drilling campaign at the Big One Deposit."

Castillo Copper Managing Director, Simon Paull

"Moreover, the fresh geological insights the field team observed at site are extremely encouraging, especially finding high-grade supergene and massive sulphide mineralisation at surface," he concluded.

Next steps

With only a couple of boxes left to tick ahead of the drilling program, Castillo is ready for the next phase at Mt Oxide.

Alongside the fieldwork at Arya and the appointment of the drill contractor, the company is planning a review of two other promising prospects at Mt Oxide.

If the Valparaisa and Eldorado prospects show similar potential to Big One and Arya, Mt Oxide could represent an iron ore-copper-gold system of fairly grand proportions.

Castillo Copper is trading 4.9 per cent higher at 4.3 cents as at 11:13 am AEST.

Read the full article on The Market Herald here: https://themarketherald.com.au/castillo-copper-asxccz-prepares-to-drill-mt-oxide-targets-2020-08-19/