Castillo Copper Ltd says it is looking to recommence mining at the Big One Deposit in Queensland, Australia, following positive assay results and highly favourable forward global demand for copper.
The company will start to prepare the groundwork for this milestone, it said, with the pending release of an inaugural JORC compliant resource for Big One one of the next major developments. Alongside this, the Castillo board is also firming up plans to apply for a mining lease.
Castillo’s strategic intent to recommence mining operations is supported, it says, by Big One Deposit’s key fundamental attributes:
- A demonstrable high-grade shallow copper system that was previously mined in 1997 – producing 4,400 t of supergene ore, averaging 3.5% Cu – via several open pits;
- Recent and historical drilling campaigns that have produced “exceptional” high-grade intercepts; and
- Its location in the renowned Mount Isa copper belt, which has supportive mining infrastructure and third-party processors with excess milling capacity Castillo is now actively canvassing.
As part of its next steps, Castillo Copper now plans to carry out further work to extend known mineralisation and Big One Deposit’s potential scale, commencing with an induced polarisation survey to identify incremental test-drill targets.
Once ground conditions improve, post the wet-season, drilling will also resume at the Big One Deposit, then move to Arya prospect which has an interpreted 130 m thick potential massive sulphide anomaly (1,500 m by 450 m) that, the company says, is highly prospective for copper mineralisation.
Simon Paull, Managing Director of Castillo Copper, said: “The combination of excellent, high-grade assay results and buoyant global demand for copper means the board is prepared to step up its strategic intent for Big One Deposit.
“We are highly optimistic that the next phase of planned exploratory work has the potential to further extend known mineralisation and build out this high-grade shallow copper system. Consequently, the board believes it is prudent to start preparing the groundwork to potentially recommence mining operations.”