Castillo Copper (LON:CCZ), the copper-focused metal explorer across Australia and Zambia, confirmed on Tuesday that all logistics are ready for drilling to commence at the prime Arya Prospect in September.
In addition, Castillo’s geophysicist consultant has re-interpreted historical aero-electromagnetic and electromagnetic data, which shows the 130m-thick EGO1 anomaly is shallower than initially estimated and verifies the Arya Prospect is a major target in Mt Isa’s copper-belt of Queensland, Australia.
The Castillo Copper share price is up by 3.14% on Tuesday morning.
Highlights
All key logistics have been finalised to enable work to commence at the prime Arya Prospect during September 2021
- A re-interpretation of legacy data by Castillo’s geophysicist consultant – which enabled better targeting at the Big One Deposit – provides new insights and re-emphasises Arya Prospect’s merits as a major exploration target in Mt Isa’s copper-belt:
- Re-processing data from AusAEM Survey, commissioned by Geoscience Australia, shows the EG01 anomaly – interpreted to be 130m thick, 1,500m long & 450m wide – is only around 100-200m deep
- This is a significant finding, as it highlights EG01 is much shallower than the initial ~430m depth estimate based on analysing data from BHP, which discovered the Arya Prospect in the mid-1990s and recommended it be drill-tested
- Castillo’s geophysicist had previously re-processed aero-magnetic data generated by Mt Isa Mines in the mid-1990s, which highlighted a significant electro-magnetic anomaly proximal to the Arya Prospect in an otherwise quiet magnetic terrain
- Reconciling known geochemical surface results (up to 1.84% Cu in rock-chips) with newly interpreted magnetic and AEM results, makes the case for test-drilling the Arya Prospect even more compelling ahead of the campaign kicking-off
Simon Paull, Managing Director of Castillo Copper, commented on his excitement for the company to commence drilling the prime Arya Prospect in September. “This campaign is particularly timely as recent work by our geophysicist consultant has interpreted the sizeable 130m-thick EG01 anomaly to be materially shallower than previously estimated.”
“At less than 200m in depth, as opposed to ~430m originally interpreted, this new insight enhances the exploration potential of the Arya Prospect and makes the case for drilling even more compelling.”
, the copper-focused metal explorer across Australia and Zambia, confirmed on Tuesday that all logistics are ready for drilling to commence at the prime Arya Prospect in September.){kind=link}