Castillo Copper Ltd (LSE:CCZ, ASX:CCZ) said most of its focus in the first quarter of 2022 was on developing the East Zone, BHA Project in Broken Hill and Big One Deposit, NWQ Copper Project in the Mt Isa copper-belt in north-west Queensland.
At the BHA Project, work is progressing on potentially “proving up” a primary cobalt mineral resource estimate, while at Big One, Castillo's geology team has already mapped out the next drilling campaign, which is slated to start once ground conditions improve), seeking to extend the known orebody.
The board said it is highly encouraged by the New South Wales government's new strategy, which targets building a viable downstream industry for processing critical minerals (including cobalt-copper-rare-earth-elements) and establishing a global supply hub in the state's central west region.
As for the company’s interest in Zambia, the induced polarisation at the Mkushi Project was completed during the first quarter. All the data was passed to Castillo's geophysicist consultant in Zambia for analysis and interpretation, and the production of a final report with conclusions and recommendations.