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Castillo Copper set for geophysical campaign across key projects in Zambian copper-belt

With CCZ securing ample funding following the recently completed capital raising, the board is focused on rapidly advancing the Mt Oxide project in Queensland and key Zambian projects.

Castillo Copper Ltd - Castillo Copper to launch geophysical campaign across key Zambia projects
The company hopes to identify targets for future drilling near operating projects in Zambia.

Castillo Copper Ltd (ASX:CCZ) (LON:CCZ) (FRA:7OR) is set to launch a comprehensive induced polarisation (IP) survey across the key Luanshya and Mkushi projects in Zambia’s copper-belt.

Given the scale of the campaign, the Western Australian-based explorer expects it will take 6-8 weeks to complete and fully analyse the results.

To accelerate identifying targets that can be drill tested, CCZ has engaged Geophex Surveys (GS) to undertake the survey.

Reconciling findings with known anomalous areas at surface should identify priority targets to drill.

“Significant exploration potential”

Managing director Simon Paull said: “Having already completed soil sampling campaigns that have delineated anomalous areas across the Luanshya and Mkushi projects, undertaking comprehensive IP surveys will potentially facilitate identifying targets to test drill.

“Overall, the board looks forward to receiving the geophysicists interpretations, as the Luanshya and Mkushi projects deliver significant exploration potential.”

Luanshya and Mkushi projects

The Luanshya Project is 6-10 kilometres south of China Nonferrous Mining Corp’s (CNMC) three operating mines, with a combined JORC (2012) proven and probable reserves of 52.3 million tonnes at 1.26% copper.

Further, across the region are four northwest-southeast trendlines, which are around 5-10 kilometres wide, that host numerous historic and current operating mines and deposits.

At Mkushi, two parallel northweast-southwest shear zones originate in Shi Yan Group’s (SYG) contiguous mining lease.

The operating Mushiwemba Copper Mine is within the north shear zone and constrained within SYG’s ground.

However, the south shear zone, which comprises similar geological structures, trends into the Mkushi Project and is a clear target area.

Additionally, the soil sampling campaign highlighted five, well-defined, anomalous areas with respective strike lengths ranging from 2-7 kilometres.

Given these anomalous zones are close to the shear zone, they are likely part of the same over-riding system.

Next steps

Castillo Copper is moving its exploration work into top gear, with several activities set to kick-off at the Mt Oxide project in northwest Queensland, including:

  • Progress report on the Big One Deposit drilling campaign;
  • Update on preliminary downhole geophysical work at Big One Deposit; and
  • Update on geophysics overview on the Arya Project ahead of drilling getting underway.

Quick facts: Castillo Copper Ltd


Price: 1.55 GBX

Market Cap: £20.12 m

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