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MT OXIDE - Castillo Copper
https://castillocopper.com/projects/mt-oxide
"While the OUTPUT WAS SOLD TO A N E A R B Y HEAP LEACH operation at Mt Cuhbert."
CASTILLO COPPER
SI CAPITAL BROKER REPORT - 12 Jan 2021 : Charlie Stephenson.
https://castillocopper.com/investors/analyst-coverage
"This zone of ENRICHED COPPER is relatively SHALLOW with observations at around 40m DEPTH. One benefit of such HIGH COPPER GRADES is the L O W T R U C K I N G COSTS per lb of copper, giving the project possibly cost effective operationality of SELLING ORE TO NEARBY MILLS." Page 2/10
"The implications of these features both the parallel dyke & LOW GRADE HALO, growing the suspected WIDTH of the ore-body to support the ECONOMICS of any OPEN PIT OPERATION." Pg 2/10 This para is before the above.
Charlie Stephenson also has a BSc & Masters in Geo per his Linkedin on open file.
MR BIGGS-GEO
P.S. At the end CCZ RESULTS RNS, Mr Biggs, Geo SIGNS the COMPETENT PERSON*S REPORT.
My earlier post stated the Consultant Geo is preparing modelling for the Big One, Qld, Oz for the JORC per CCZ Feb 2021 presentation. I understand that Mr Biggs is the Consultant Geo also but kindly check.
Today, CCZ has tweeted to ask shareholders to look at the Feb 2021 latest Presentation.
CASTILLO COPPER:
https://wcsecure.weblink.com.au/pdf/CCZ/02344530.pdf
"Pg 6: MT OXIDE: M A J O R DISCOVRY : Major discovery as THREE 34-44m wide ECONOMIC intersections from surface, with up to 16.65% Cu, significantly EXTENDS KNOWN mineralisation at the HIGH-GRADE BIG ONE DEPOSIT within the Mt Oxide Queensland Copper Belt."
"To further extend KNOWN mineralisation, a regional geophysical campagin is being rolled out along the 1, 2 0 0 KM S T R I K E EVENT. This may identify new massive bedrock conductors
& provide more insights on a known gossan NORTH-EAST of the line of lode."
"Further, CCZ*s GEOLOGICAL CONSULTANT has started MODELLING UP A J O R C COMPLAINT RESOURCE as the 2020 drilling campaign SUBSTANTIALLY boosted confidence in the legacy data."
CASTILLO TWEET, 52 MINS AGO, TUES, 3 AUG 2021:
Same as para 1 of my above post from the Feb 2021 CCZ Presentation. Castillo Copper tweet also gave the same presentation link.
https://twitter.com/CastilloCopper/status/1422464267530481738
CASTILLO TWEET, 20 hrs ago.
"Castillo Copper encourages SHAREHOLDERS & POTENTIAL INVESTORS alike, to view the latest Feb 2021 Presentation available on the website & via the link below."
https://twitter.com/CastilloCopper/status/1422170077185679372
My Comment:
Obviously, Castillo officially via Twitter has asked shareholders to read the latest Feb 2021 website of which they gave a link. This morning they have FOLLOWED up on that tweet with a para in so far as the words allow.
I have typed out the REST of that para above. The Geo Consultant as I understand is Mr Biggs. His Linkedin [open file] stated from recall he has 39 yrs experience and 32 YRS EXPERIENCE OF JORC COMPLIANT RESOURCE ...with a BSc & Masters in Geo. SO, FURTHER TO THE CONVO, A JORC IS BEING MODELLED. One cant model or potentially model if there is no resource or not ...?
@Loot Normally threshold for copper play commercialisation would be quite high as plant capital costs are high unless they can use local toll processing in which case it is just camp and dig costs hence why shallow high grade at scale would be really good news.
Zambian copper plays make money at 0.5% copper grade so IF CCZ can partner for local ore processing then viability far more likely than not. Supergene grades mean much lower costs as you are digging, transporting and processing far less material for a far bigger metal content.
ATB APR
@aprogerson, just seen your post before I leave for work. Agree, we need to see some decent mineralisation along the load. 1% may not cut it? Other factors may dictate commercialisation but we are in a good neighbourhood.
Along with 318RC & 326RC assays, hopefully we should get 319RC & 321RC which are the first bore holes to the west of current drilling. There are another 19 holes which are located at intervals westward along the line of lode. These 19 holes are being drilled now and should be complete this month so hopefully visible results early September followed by assays some time later in September. Certainly by October we should have a good idea if this is commercial.
I guess drilling starts at Arya in October? and when finished, they may return to Big One if they get time before raining season starts in the new year. My gut feel is that more Big One drilling will be required in 2022 but this has not been confirmed. It shouldn't delay application for mining licence however because I hope, by then, we have a clearer picture of the Big One resource.
There is also a very promising Geophys result a few hundred yards to the north of Big One. They haven't mentioned what they intend to do but it could potentially be three to four times the size of Big One. I believe drilling is difficult because it is located on a steep incline at the surface and it's currently not possible to position a drilling rig in the area. I'd love to hear more about their plans to explore this area but I also understand the need to focus on the current strategy.
@lootgaloot Like you it is good to see CCZ building confidence in a mineralised area but to prove it is commercial will require confirmation of decent mineralisation with step-out drilling along strike and/or parallel to current high-grade lode as CCZ seem to be suggesting.
ATB APR
When are getting some other bore hole results, and would not be bad if had other results of other mines let alone sounds like a record, talking about the same sq metres
I’m not expecting much from the 318RC & 326RC assays.
318RC is yet another drill in the vicinity of 301RC. They seem obsessed with this very small area based on the fact that 301RC returned 3m @ 10.88% and the historical B07 returned 3m @ 12.25%. However, drilling deeper, the market was underwhelmed when 315RC returned 3m @ 1.22% and 316RC returned 5m @ 1.06%.
318RC goes deeper again in the same small area; do we really expect to get anything more than a few meter intercept at about 1%? I doubt it.
326RC is another deep one but could be even more disappointing. I assume this hole is to explore deeper than 303RC which returned 5m @ 7.34%. Yes, the very small area between 301RC and 303RC has yielded high mineralisation at shallow depth but as we have seen with 315RC and 316RC, mineralisation at greater depth has failed to excite the market.
I consider the next assays from 318RC and 326RC as just finishing up on a small area that looked promising from historic and initial drilling but probably hasn’t lived up to expectation. I base this opinion on market reaction thus far but I also accept that the results are good, if not spectacular.
I will be glad once we start getting assays from the remaining holes westward along the line of lode. I don’t expect the high mineralisation found at 301RC and 303RC but I am hopeful of good consistent intercepts of above 1% and maybe the opportunity to surprise on the upside with one or two localised areas of higher mineralisation. This, I believe, would qualify as a solid commercial resource from which we can apply for a licence.
I think hole 318 is one to watch out for.
A big hole is a good hole.
Looking forward to the next batch of drilling results from the Big One...
26 July RNS: 'Assays for samples from priority drill-holes BO_318RC1 & BO_326RC, which exhibited visual copper intercepts up to 34m & 26m respectively, should be back shortly as the laboratory is fast-tracking the analysis'