Castillo Copper Ltd (LSE:CCZ, ASX:CCZ) has increased its understanding of the Luanshya Copper Project in Zambia, with Induced Polarisation (IP) surveying modelled by CCZ’s consultant geophysicist identifying 14 highly prospective drill targets along a 6-kilometre strike.
Extensive soil sampling was used to define the anomaly, the high-chargeability zones of which have been interpreted to coincide with a previously identified north-west to south-east trendline, 5-10 kilometres wide and host to historic and current operating mines and deposits.
“Several zones of high chargeability”
The geophysicist interpreting and modelling results for CCZ noted that there are “several zones of high chargeability with associated copper anomalism, which are potential bodies of disseminated copper sulphide mineralisation.”
These results suggest an underlying mineralisation could be structurally controlled, with potential for mafic sources of copper sulphide mineralisation.
“The geophysicists’ interpretations on the Luanshya Project are welcome news and highlight the exploration potential across this 6-kilometre soil anomaly,” Castillo Copper managing director Simon Paull said.
“With the global copper market in the midst of a strong upcycle, due to perceived tight supplies, the board is moving forward to expedite developing the Zambia copper assets.
“This provides geographic exploration diversity across our copper asset portfolio, whilst we concurrently progress due diligence on the Litchfield & Picasso lithium projects.”
CCZ says there is now plenty of data to map out an inaugural drilling campaign for the Luanshya Project to test identified targets, and to begin negotiations with drilling contractors to formalise a timeline.
Castillo Copper is an Australian based explorer focused on copper across Australia and Zambia. The company is in the process of transforming into a mid-tier copper group underpinned by four key assets: Mt Oxide in Queensland’s Mt Isa copper belt, four Zambian assets across the Zambian copper belt, a silver-zinc-lead deposit in Broken Hill and Cangai, one of Australia’s highest grading historic copper mines, both in New South Wales.
There are several ongoing steps for the Zambia operations, including:
- IP survey progress updates at the Mkushi Project then analyse the results for incremental targets for test-drilling; and
- Commence work on the inaugural drilling campaign at the Luanshya Project.
For the lithium projects:
- Ongoing due diligence for the Picasso and Litchfield lithium projects, including return of assay results for surface sampling campaigns.
In Queensland, the following is set to take place over the coming weeks:
- Updates on drilling at Arya Copper Prospect.