Castillo Copper to Advance Copper Projects with Key Appointment

SEATTLE (Scrap Monster): Castillo Copper, a base metal explorer primarily focused on copper across Australia and Zambia, has announced that it has appointed a service provider to progress development work at the Big One Deposit, and that the Castillo geology team is progressing work to update and enhance the confidence in the 2017 inferred JORC Mineral Resource Estimate (MRE) for Cangai Copper Mine.

HIGHLIGHTS:

• With the long-term demand outlook for copper remaining positive, especially with the transition to green energy gaining increased traction, there is likely to be persistent upward pressure on the price and greater exploration to establish new supply chains.
• With this positive backdrop, the Board has been progressing plans to expedite developing the copper assets, with the following service provider appointment as well as work conducted on the Cangai resource by the Castillo geology team:
• Entech Mining will undertake a pit optimisation and mine design study for the Big One Deposit (NWQ Copper Project Mt Isa copper belt), which has an inferred JORC MRE at 2.1 Mt @ 1.1% Cu for 21 886 t copper metal:

o If the findings are positive then next steps comprise determining the optimal path to market and effective use of third-party processors.

o Concurrently, work can focus on capitalising on Big One Deposit’s exploration potential via drill-testing known targets north of the line of lode. o Interest in the Mt Isa copper belt is significant, as Castillo’s footprint is proximal to ground owned by majors including Rio Tinto, Anglo America, Teck & Glencore.

• The Castillo geology team will update and enhance the confidence in the 2017 inferred JORC MRE for Cangai Copper Mine (northern NSW) – 107 589 t contained copper metal (3.2 Mt @ 3.35%):

o Critically, drilling work post-2017, which includes 34 RC drill-holes for circa 5 000m, will be factored into the geological model.

Notably, Cangai Copper Mine still delivers exploration potential as DHEM surveys in 2018-19 identified several untested bedrock conductors that are open at depth.

Ged Hall, Chairman of Castillo Copper, said: “The Board is well versed in the current global demand-supply dynamics for copper which by all accounts suggests explorers, like Castillo Copper with inferred resources, are potentially prime beneficiaries. Having recently outlined plans to ramp up advancing the Big One Deposit and Cangai Copper Mine, the Board is delighted to announce the appointment of this key service provider to progress development work.”

Courtesy: www.globalminingreview.com