Managing director says exploration efforts at the Luanshya Project are ‘bearing fruit’
Castillo Copper (LON:CCZ), has confirmed that multiple targets for test-drilling have been identified at the Luanshya Project in Zambia’s copper-belt, following the completion of eight Induced Polarisation (IP) survey lines.
Work on the IP survey across the Luanshya Project in Zambia’s copper-belt – focusing on a 6km strike delineated from previous soil sampling campaigns – is progressing to plan, with eight lines now complete.
In good news for the metals explorer, multiple high chargeability targets have been identified within three interpreted lines that potentially indicate the presence of sulphides.
Reconciling the IP survey findings with the previous geochemical results confirmed the high chargeability targets are directly coincident – this significantly enhances the probability for a discovery.
Castillo can now formulate the inaugural drilling campaign and, pending the outcome of discussions with service providers, potentially commence work in Q4 of 2021.
Meanwhile, the second drilling campaign at the Big One Deposit has concluded – the laboratory, which is processing a huge number of samples from many explorers across the Mt Isa region, is expected to return all assays shortly.
This will enable the geology team to progress work on formulating the next drilling campaign at Big One.
Simon Paull, Managing Director of Castillo Copper, commented: “Our exploration efforts at the Luanshya Project are bearing fruit, as we now have multiple high-quality targets to test-drill along the 6km copper strike. Moving forward, the Board’s goal is to commence the inaugural drilling campaign during the fourth quarter. This will place Castillo Copper in a strong position strategically, with development work progressing concurrently on prime projects in the Zambia and Mt Isa copper-belts.”
The Castillo Copper share price is down by 2.63% during the morning session on Monday.
