The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Cash position was good they had about £2.5m Aud end of last year.
SP Angel covered it this morning.
Castillo Copper (CCZ LN) 4p, Mkt Cap £26.9m – Further assay results from drilling at the Big One project in Queensland
* Castillo Copper reports further drilling results from its drilling at the Big One prospect which is located in its Mt Oxide project area in Queensland.
* The company says that the recent results “significantly extend known mineralisation” and provide “Compelling evidence that Big One Deposit is a shallow, high-grade copper-cobalt system with the potential to scale further”.
* At this stage, a “maiden JORC compliant resource” is being prepared which may allow third-party observers to form a view of the scale and quality of the mineralisation. Castillo Copper is also preparing a geophysical exploration plan
* Among the results reported today are:
* A 40m wide intersection from surface in hole 303RC at an average grade of 1.64% copper which includes 11m averaging 4.4% from 24m depth, 5m averaging 7.34% from 28m and a single 1m averaging 16.65% from 29m. We note that partial results, excluding assay data were reported from this hole and others during December; and
* A 44m wide intersection averaging 1.19% copper from surface in hole 301RC, including 14m averaging 3.55% from 27m, 3m averaging 10.88% from 37m and a single metre averaging 12.6% from 37m depth; and
* A 12m wide section averaging 0.79% copper from 52m in 213RC, including 8m averaging 1.06% from 57m depth, 3m averaging 2.03% from 58m and single metres averaging 4.37% and 1.46% from 59m and 62m respectively; and
* 8m averaging 0.47% copper from 84m in hole 207RC, 8m averaging 0.41% from 16m in hole 306RC, 8m averaging 0.42% from 54m in hole 206RC, 5m averaging 0.66m from 35m in hole 302RC and 5m averaging 0.53% from 34m in hole 305RC
* The company explains that “The latest assay results have extended original lengths of visually logged mineralised intersections … while laboratory analyses confirmed the presence of high-grade, shallow copper mineralisation in eight drill-holes at Big One Deposit”.
* The company also says that “ore grade cobalt readings were noted in 301RC - 12m @ 912ppm Co fm 29m incl: 1m @ 1,435ppm Co. While further work is required to determine the extent of mineralisation, there is potential for significant cobalt credits” while assays have also shown anomalous levels of silver, arsenic and bismuth as well as “very minor gold readings”.
* Castillo Copper says that the onset of the wet season has caused a pause in drilling, “a geophysics campaign is being formulated to identify new bedrock conductors (and potential test-drill targets)”.
* Managing Director, Simon Paull, said that the recent results “could be transformative for Big One Deposit … [and that they demonstrate] … the potential for significant further upside with mineralisation observed away from the main copper lode. There is
Next steps
Provide an update on the next batch of assay results (307-14RC), plans for a geophysics campaign at Big
One Deposit and progress with modelling a maiden JORC resource.
We still have a lot more to come and that is before we move across to Arya. Onwards and upwards from here!
Drive towards copper for 2021
https://www.proactiveinvestors.com.au/companies/news/937542/move-towards-electric-vehicles-and-cleaner-energy-to-drive-copper-prices-as-major-economies-work-towards-zero-emissions-937542.html
Trafigura chief economist interview, highlighting bullish outlook on copper. CCZ perfect timing for a Copper storm.
https://www.bloomberg.com/news/videos/2020-12-11/cooper-is-screaming-one-way-ride-trafigura-economist-says-video
There is a lot more results to come and the first few assays were good. I can see why Si Capital like this one. Plenty of shallow high grade copper to build on.
B07: 3m @ 12.25% Cu from 42m incl: 2m @ 17.87% Cu from 43m; and 1m @ 28.4% Cu from 44m
B05: 8m @ 2.33% Cu from 44m incl: 6m @ 3.00% Cu from 45m; and 5m @ 3.28% Cu from 45m
B06: 4m @ 2.20% Cu from 44m incl: 2m @ 3.19% Cu from 46m and 1m @ 3.63% Cu from 47m
B25: 6m @ 1.55% Cu from 66m incl: 5m @ 1.79% Cu from 66m and 2m @ 2.08% Cu from 66m
B02: 4m @ 1.45% Cu from 36m incl: 1m @ 2.48% Cu from 37m
B26: 3m @ 1.36% Cu from 73m incl: 2m @ 2.29% Cu from 73m and 1m
@ 1.02% Cu from 74m
With consistency in the visible sulphides, the assays to come and remaining holes to drill, I can totally agree with this statement-
Castillo Copper’s Big One Deposit could develop into a substantial standalone asset: SI Capital
Si Capital research report from drilling so far.
https://www.proactiveinvestors.com.au/companies/news/936646/castillo-coppers-big-one-deposit-could-develop-into-a-substantial-standalone-asset-si-capital-936646.html
Updates on the drilling program must be close. Appointment of corporate advisor is great for exposure and its hopefully in time or on the back of some good drill results. Remember so far we are only 7 holes in, 28 to go at the Big One and then move to Arya. Great buying at these prices!!
Looking forward to the news flow over the coming weeks leading to Christmas and the new year, drills are turning at Big One then move to Arya early next year, a lot of upside potential from here. Copper currently $7758 and rising.
With the first lot of assays already fast tracked to the lab to confirm the visible mineralisation, i think we can expect a steady news flow of further drilling updates and results over the coming weeks. And with copper at 5 year highs i would expect the share price to follow the news flow on an upward trend. Exciting times ahead for all holders