Castillo Copper readies for drilling at Mt Oxide's prime Arya target

Castillo Copper Ltd (LSE:CCZ, FRA:7OR, ASX:CCZ) has logistics in place at the Mt Oxide Project's prime Arya prospect within the Mt Isa copper-belt of northwest Queensland to test drill key targets identified by BHP during the mid-1990s, including one estimated at 130 metres thick. Drilling is set to kick off during September on the EG01, EG02 and EG10 targets after CCZ’s geophysicist consultant verified Arya as a major target through reinterpreting historical aero-electromagnetic (AEM) and electromagnetic (EM) data. The company believes reconciling known geochemical surface results (of up to 1.84% copper in rock-chips) with newly interpreted magnetic and AEM results, makes the case for test-drilling even more compelling. “Shallower than previously estimated” Managing director Simon Paull said: “Encouragingly, recent work by our geophysicist consultant has uncovered new insights, which make the case for drilling the Arya Prospect even more compelling, especially as the interpretation of the sizeable EG01 anomaly shows it is materially shallower than previously estimated.” Castillo Copper will continue advancing the other prime Mt Oxide prospect, Big One Deposit, as numerous targets are yet to be drill tested. The board’s strategic intent is to model up a JORC resource and, if justified, apply for a mining lease. Assays are still pending for the current Big One Deposit campaign following a backlog at the laboratory due to a significant volume of exploratory work in the Mt Isa region. Background To re-cap, the Arya Prospect was originally identified by the 1997 Alsace/Epsilon BHP AEM survey as it was characterised by a strong AEM anomaly. At the time, BHP classified the Arya Prospect a priority target which resulted in a follow-up ground survey, but no test-drilling was ever undertaken. Additionally, BHP identified several other prospective EM anomalies across the region to the east of Arya and running northeast attributable to steeply dipping thick carbonaceous pyritic shale horizons. In March 2019, Geoscience Australia released the results of its AusAEM survey, which identified the anomaly at the Arya Prospect. Arya’s exploration potential Reconciling BHP and Geoscience Australia’s AEM results with assayed rock chips at surface, up to 1.84% copper, resulted in the initial interpretation that EG01 was potentially a massive sulphide conductor 130 metres thick, 1,500 metres long, 450 metres wide and around 430 metres deep. In re-processing Geoscience Australia’s AusAEM Survey data, CCZ’s geophysicist believes the EG01 anomaly is now only around 100-200 metres deep rather than around 430 metres as initially estimated, marking a key finding that enhances the exploration potential of the Arya prospect. Next on agenda There are several ongoing steps, including: Reporting of the assay results from the Big One Deposit drilling campaign and surface sampling along the IP survey lines; and Commence drilling campaign at the Arya prospect.