Castillo Copper Ltd (ASX:CCZ, LSE:CCZ) said it has appointed a service provider to progress development work at the Big One deposit in Australia.
Entech Mining will undertake a pit optimisation and mine design study for the Big One deposit, which already has an inferred JORC resource of 2.1mln tonnes at 1.1% copper.
Meanwhile, the Castillo geology team is moving ahead with work to update and enhance confidence in the 2017 inferred JORC resource estimate for Cangai Copper Mine. An additional 5,000 metres of drilling can now be factored into the resource.
Interest in the Mt Isa copper belt is significant, as Castillo's ground is proximal to ground owned by majors including Rio Tinto, Anglo America, Teck & Glencore.
"The Board is well versed in the current global demand-supply dynamics for copper which by all accounts suggests explorers, like Castillo Copper with inferred resources, are potentially prime beneficiaries,” said Ged Hall, chairman of Castillo Copper in a statement.
“Having recently outlined plans to ramp up advancing the Big One deposit and Cangai Copper mine, the board is delighted to announce the appointment of this key service provider to progress development work," he added.