Australian copper explorer Castillo Copper (ASX:CCZ) has enlisted specialist mining consultant Entech Mining to undertake pit optimisation and mine design study work for the Big One deposit, located within its NWQ Copper Project in Queensland.
The company reports this work is timely, noting the global demand-supply dynamics is increasingly ‘favourable’.
The Big One deposit currently hosts an inferred Mineral Resource Estimate (MRE) of 2.1 million tonnes @ 1.1% Cu for 21,866 tonnes of copper metal. Contingent on the study’s findings, Castillo says next steps potentially comprise detailing effective processing options and viable path to market.
At this deposit there are known targets north of the line of lode, which deliver exploration potential, however these require drill testing to extend the known mineralisation.
Castillo also reports it has tasked its geology team with updating and enhancing the confidence in the 2017 JORC MRE for the Cangai Copper Mine in New South Wales. Currently the project has a MRE of 3.2 million tonnes @ 3.35% Cu for 107,589 tonnes of copper metal.
A key feature will be including drilling work completed after 2017, which includes 34 reverse circulation (RC) drillholes for about 5,000m into the geological model.
The company says Cangai still delivers exploration potential as downhole electromagnetic (DHEM) surveys in 2018-2019 identified several untested bedrock conductors that are open at depth.
Commenting on the development work, Castillo Copper Chairman Ged Hall says: “The board is well versed in the current global demand-supply dynamics for copper which by all accounts suggests explorers, like Castillo Copper with inferred resources, are potentially prime beneficiaries.
Having recently outlined plans to ramp-up advancing the Big One deposit and Cangai Copper Mine, the board is delighted to announce the appointment of this key service provider to progress development work.”
“Having recently outlined plans to ramp-up advancing the Big One deposit and Cangai Copper Mine, the board is delighted to announce the appointment of this key service provider…”
Castillo reports the interest in the Mt Isa copper belt has grown ‘significantly’ in recent years. The company also says its footprint is proximal to ground owned by major mining groups including Rio Tinto (ASX:RIO), Anglo American (LON:AAL), Teck (NYSE:TECK), and Glencore (LON:GLEN).
Castillo Copper is an Australian copper exploration company focused on its portfolio of projects in Australia and Zambia. The company currently holds the NWQ Copper Project in the Mt Isa copper-belt district in northwest Queensland, as well as the Broken Hill Project and Cangai Copper Mine in New South Wales.
Castillo also holds the Mkushi, Luanshya, North and South Lumwana, and Mwansa projects in Zambia.
Images: Castillo Copper Ltd & Entech Ltd
