Gold Occurrences Provide Credit Potential
Castillo Copper Limited (ASX: CCZ) reports that 24 assayed rock chips, taken from excavated ore and unexplored areas across the Big One Deposit in Queensland, confirm there is high-grade copper mineralisation apparent.
Managing Director, Simon Paull, said the company is now preparing to test that further with drilling to commence by October 12, 2020.
“Securing confirmation that high-grade rock chip assays are reconcilable with the previous drilling campaign is excellent news on the eve of the campaign getting underway,” Mr Paull said.
“Our drilling team is working closely with the landowner to ensure all logistics are in place so work can get underway on schedule in mid-October.”
The assays for 24 rock chip samples showed high copper percentages across the board with the best three including 33.2% Cu, 32.1% Cu and 26.6% Cu. For the entire sample population, the average was 6.7%, with 21 rock chip samples (out of 24) having copper grades >1% Cu
Castillo Copper’s UK Director, Ged Hall, said the new assays from the Big One Deposit are a great validation of the high-grade ore seen at this exciting project.
“It gives the team tremendous confidence to see these results spread across the tenure and including target areas that will be drilled soon.”
Mr Hall said that encouragingly, the rock chip assays are consistent with the earlier high-grade drilling results which hit economic intercepts up 28.4% Cu along a 600m strike event.
Mr Paull added that while assayed gold values were not significant but may be utilised as credits if mining operations materialise. He noted that typically, field readings for gold mineralisation using an XRF device can deliver false positives, particularly if there is a high arsenic content apparent.
“This is why it was stressed in earlier ASX Releases that laboratory confirmation was required to corroborate any field results.”
