Castillo Copper Ltd (LSE:CCZ, ASX:CCZ) has further de-risked the Big One deposit of the NWQ Copper Project in Queensland with proof-of-concept metallurgical test work producing a copper concentrate up to 10 times purer than the original grade.
A head-grade copper sample of 0.72% was converted to 7.2% post-test work, with more metallurgical testing underway to determine optimal processing methods and support the signing of a processing agreement.
Castillo is already confident in the Big One’s economic potential, given its current global inferred mineral resource estimate sits at 21,886 tonnes of contained copper metal (2.1 million tonnes at 1.1% copper).
Results pave “clear path to market”
“The board is delighted with the preliminary metallurgical test-work results, especially with the beneficiation potentially transforming the ore from the Big One deposit into a viable copper concentrate,” Castillo Copper managing director Dr Dennis Jensen said.
“Moreover, receiving these initial results now is timely as the board is now ramping up efforts to secure a processing agreement and clear path to market.”
The company’s current forward plan involves a third drilling campaign at the Big One to extend known mineralisation, focused specifically on a sizeable bedrock conductor north of the main lode, and incremental geophysical surveying to identify fresh targets.
Castillo is also conducting metallurgic testing on cobalt sourced from drill core samples at the Sisters prospect in Broken Hill, with results expected shortly.