Castillo Copper Ltd (ASX:CCZ) continues to improve the exploration upside at the Mt Oxide copper pillar in northwest Queensland with the potential for shear-hosted copper-zinc-lead mineralisation verified at Johnnies prospect.
Fresh evidence has been also uncovered that highlights the potential for Johnnies to host supergene mineralisation.
Various styles[hhmc]
At Mt Oxide in the Mt Isa copper-belt district, there are now two prospects with supergene mineralisation potential along with four IOCG, two Mt Isa-style and several other targets.
Castillo Coppers London-based director Gerrard Hall said: “Like a good novel, the Mt Oxide pillar story continues to get better and better as another piece of positive news from the prospect review is uncovered.”
Three pillars[hhmc]
Mt Oxide is one of three key pillars that Castillo Copper is pursuing as part of a strategic transformation to morph into a mid-tier copper group.
The others are four high-quality prospective assets across Zambias copper-belt which is Africas second-largest copper producer, and Cangai Copper Mine in northern NSW, one of Australias highest grading historic copper mines.
In addition, Castillo Copper is progressing a dual listing on the Standard Board of the London Stock Exchange.
Mt Oxide “taking shape”[hhmc]
The companys managing director Simon Paull said: “The ongoing review of the Mt Oxide pillar continues to uncover excellent news, with verification there is potential for supergene ore at the Johnnies prospect which complements known shear-hosted copper mineralisation.
"CCZs current objective for the Mt Oxide pillar, which is to map out an extensive set of walk-up drill-test targets across eight prospects, is rapidly taking shape.”
At Johnnies, a historic induced polarisation survey identified two anomalies – a low phase response that is potentially sulphide mineralisation continuing down plunge; and a north-trending downwards plunging anomaly.
Across this prospect, strongly anomalous assayed surface samples have been associated with shear-hosted copper-lead-zinc mineralisation.
Moreover, the interpreted shear zone, which is circa 1,550 metres by 400 metres and orientated north-east, includes:
- Rock chips: up to 59,100ppm copper, 45,000ppm lead and 9,500ppm zinc; and
- Stream sediment: up to 90ppm copper, 87ppm lead and 225ppm zinc.
Encouraging assays[hhmc]
In addition, sub-surface mineralisation analysis was conducted from two 16-metre long costeans (A and B) dug either side of historical workings in Johnnies southwest quadrant.
These delivered highly encouraging assays, consistent with the rock chip results, including:
- Costean A: anomalous values from one sample – 63,000ppm zinc, 21,700ppm lead and 1,750ppm copper; and
- Costean A: a 5-metre composite sample along the length of the trench – 16,532ppm zinc, 5,658ppm lead and 782ppm copper.
Analysing the high-grade geochemical data and findings from the costeans determined there is potential for shear-hosted copper-zinc-lead mineralisation to be apparent in a north-east trending zone.
Preliminary drill targets[hhmc]
[contf]
[contfnew]
Proactiveinvestors
[contfnewc]
[contfnewc]
