Castillo Copper announces expanded drilling campaign at Big One Deposit

Castillo board ‘optimistic’ value can be created for all stakeholders

Castillo Copper (LON:CCZ), the base metal explorer, confirmed on Monday that its geology team completed the drilling campaign for the Big One Deposit which will consist of 26 drill-holes for 2,828m.

Th campaign includes 108m of HQ diamond coring in two drill-holes to collect detailed assay, density, and geotechnical measurements. The drilling programme from the year before totalled 21 RC drill-holes for 1,467m.

“The programme, which factors in the recent geophysics survey that comprised six 500-700m lines
across the 1,200m strike event, is designed to extend known mineralisation and build on previous drill
results,” Castillo said in a statement.

Highlights

• – Castillo’s geology team have finalised a new 26 drill-hole campaign for 2,828m to extend known mineralisation:
  • A key focus is to build on the stellar results derived from previous programmes which included the following best intercepts
    • 303RC: 40m @ 1.64% from (fm) surface incl: 11m @ 4.40% fm 24m, 5m @ 7.34% fm 28m & 1m @ 16.65% fm 29m
    • 301RC: 44m @ 1.19% Cu fm surface incl: 14m @ 3.55% fm 27m, 3m @ 10.88% fm 37m & 1m @ 12.6% fm 37m
    • BO017: 34m @ 1.51% Cu from surface incl: 21m @ 2.25% Cu fm surface, 12m @ 3.44% Cu fm 3m, 6m @ 4.79% Cu fm 3m and 1m @ 9.4% fm 9m

• – Through reconciling legacy drilling and geochemical data against the 2D and 3D geophysical models, the geology team have optimised and expanded the campaign to target several newly identified bedrock conductors:
  • This includes a large, interpreted anomaly north-west of the line of lode that suggests extensive underlying copper mineralisation is potentially located along fault structures rather than constrained within the trachyte dyke.

• – Logistical support for the upcoming campaign is now in place, while the drilling crew is slated to arrive and commence work within the next one-to-two weeks.

• – In readiness for the next phase of the campaign, which will see drilling move on to the Arya and Sansa Prospects, the geology team are reviewing all key data points to ensure optimal results:
  • Notably, there are several bedrock conductors across these two prospects that are prime drill-test targets including EG01 – which is interpreted to be 130m thick, 1,500m by 450m, and circa 430m deep.

• – In line with the Castillo’s strategic intent to evolve into a mid-tier copper group, the Board remains optimistic 2021 will be a transformative year.

Simon Paull, Managing Director of Castillo Copper, said: “Reconciling geophysics findings with legacy drilling and geochemical data should enable Castillo’s geology team to design effective drilling campaigns for the Big One Deposit, Arya and Sansa Prospects with a high degree of confidence. Consequently, as we progress through several phases of exploring the Mt Oxide Project over the balance of 2021, the Board is optimistic value can be created for all stakeholders.”