Castillo Copper Enhances NWQ Project with New Geological Consultant

August 13, 2024 11:09 PM AEST | By Team Kalkine Media

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Castillo Copper Enhances NWQ Project with New Geological Consultant — Image source: Shutterstock

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A significant player of Industrial sector Castillo Copper Ltd has appointed Global Ore Discovery as its geological consultant for the NWQ Copper Project, located within the Mt Isa copper belt. Global Ore Discovery will oversee development efforts at the Big One Deposit, focusing on aligning with Castillo's surface sampling strategy.

Surface Sampling and Exploration

In the previous quarter, Castillo Copper Ltd (LSE:CCZ) geologists initiated a surface sampling campaign targeting areas with historical copper anomalies and high conductivity zones at the Big One Deposit. Global Ore Discovery will continue this exploration with a program designed to identify potential new drilling targets that could expand known mineralization. The exploration work is anticipated to commence this week, pending the receipt of necessary approvals.

Mineral Resource and Regional Initiatives

The Big One Deposit has an inferred mineral resource estimate of 2.1 million tonnes at 1.1% copper, equating to 21,886 tonnes of contained copper metal. This deposit represents a significant focus within the NWQ region. The timing of the exploration coincides with the Queensland government’s $30 million Mount Isa Mining Acceleration Programme, which aims to enhance regional mining activities.

Strategic Moves and Holdings

Castillo Copper's strategy of partnering with suitable entities to unlock value from non-core assets has shown positive results. The company received 13.4 million shares in Rimfire Pacific Mining from the sale of the BHA West Project, which are now valued at over $700,000. Castillo Copper aims to replicate this success with other projects, including the Cangai Copper Mine, BHA East Project in New South Wales, and the Mkushi Copper Project in Zambia.

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