Castillo Copper has released what it describes as ‘game changing’ assay results confirming a major copper discovery at Big One deposit.
The latest results significantly extend known mineralisation and clearly confirm there is a high-grade, shallow scalable copper system at the North West Queensland site, the company says.
It is accelerating development plans for the deposit, with a geophysics campaign being formulated and modelling of a JORC-compliant resource underway.
The latest results include 40m at 1.64 per cent copper including 1m at 16.65 per cent and 44m at 1.19 per cent copper including 1m at 12.6 per cent.
The recent drilling campaign has also demonstarted high cobalt grades, including 12m at 912ppm cobalt.
“We are delighted to receive assays of this calibre, especially with global copper supplies tight,” managing director Simon Paull said.
“There is now compelling evidence Big One deposit is a shallow,
high-grade copper-cobalt system that can potentially scale further.
“The board is now ramping up forward development work and the modelling of a maiden JORC-compliant resource.”
The Big One deposit is part of Castillo’s Mount Oxide project, located 150km north of Mount Isa near the old Mount Oxide copper mine.