(Alliance News) - Castillo Copper Ltd on Wednesday announced it has chosen 35 drill sites at the Big One deposit within the Mt Oxide pillar in Queensland, Australia, and has secured approvals ahead of the drilling campaign.
The base metal explorer in Australia and Zambia said the access track to the deposit is now complete with all necessary government regulatory approvals secured.
Castillo Copper added that a massive hematite vein mineralisation was visually identified, meaning that the Big One deposit could be part of a larger mineralised system.
The company's geology team visually confirmed copper mineralisation with "massive" sulphide veins and disseminated sulphides being apparent.
Going forward, Castillo Copper still needs to appoint a drilling contractor. It also needs to select drill sites at the Arya prospect and undertake a closer review of its surface geology.
Managing Director Simon Paull said: "Thanks to the dedicated hard work of our geology team, we are now clearly across logistics and regulatory approvals. Importantly, we are now fully prepared to move forward with our planned drilling campaign at the Big One deposit. Moreover, the fresh geological insights the field team observed at site is extremely encouraging, especially finding high-grade supergene and massive sulphide mineralisation at surface."
Castillo Copper shares were up 14% at 2.78 pence each at midday on Wednesday in London.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Castillo Coppe. (CCZ)