Castillo Copper Ltd (LSE:CCZ, ASX:CCZ) has delivered exploration upside at Arya Prospect within the NWQ Copper Project in Queensland with base metals and graphite mineralisation potentially intersected over at least 200 metres in initial reverse circulation (RC) drilling.
Drilling has so far been completed over two drill pads, reaching a depth of 238 metres and hitting mineralisation in hole AR_002RC.
Around 200 metres of dark grey and black carbonaceous siltstone/schist was intersected, with elements of scattered base-metal sulphides and fine-grained graphite mineralisation and the mineralisation remains open at depth.
While large intersections of minerals were not found in the first drill hole, visible but scattered chalcopyrite (copper sulphide mineralisation) was observed, indicating further copper mineralisation may be present.
All samples have been dispatched to the laboratory where they will be comprehensively tested for base (copper, zinc) metals, speciality metals (rare earth elements, cobalt) and total graphitic carbon.
Potential for commercial battery metals
Castillo Copper’s managing director Simon Paull said: “The preliminary findings from the drilling campaign are quite remarkable, as over 200 metres of carbonaceous siltstone and schist, exhibiting occurrences of base metal sulphides and fine-grained graphite mineralisation, was intersected.
“This is an exciting development, particularly given strong prevailing demand for battery related minerals such as copper, cobalt, and graphite. The board looks forward to reviewing the assay results and remains committed to continued drilling at the Arya Prospect.”
Drilling will continue at the prospect through November – weather permitting – and will resume in 2022 to test new targets and determine the full extent of underlying systems of mineralisation.
The next phase of drilling will complete testing the known electromagnetic anomalies EG01, EG02 & EG10. The geology team also plans to drill test the magnetic anomaly to the south of EG01, EG02 & EG10 as this may be a primary source of base metal mineralisation.
Castillo plans to release a comprehensive update on return of assays, once its geology team has the opportunity to interpret the results.
Castillo Copper is a base metals explorer embarking on a strategic transformation to morph into a mid-tier copper producer underpinned by its core projects.
Apart from the primary copper pillars at NWQ in Queensland, Cangai Copper Mine in NSW and in Zambia’s Copper-belt, the company also has nickel, zinc and cobalt assets.
In Queensland, the company has planned the following to take place over the coming weeks:
- Assay results and forward drilling plans for the Arya Prospect.
For the lithium projects:
- Ongoing due diligence for the Picasso and Litchfield lithium projects, including return of assay results for surface sampling campaigns.
There are two ongoing steps for the Zambia operations, including:
- Complete the IP survey at the Mkushi Project; and
- Complete work on the inaugural drilling campaign for the Luanshya Project.