Castillo Copper Ltd (ASX:CCZ, LSE:CCZ) will soon embark on an extensive exploration campaign at the NWQ Copper Project, following a decision to classify the Mt Isa copper-belt project in Queensland as a “core asset” in the company’s portfolio.
Other assets, including the Cangai Copper Mine, BHA Project and Zambian projects are still under review by the company’s geology team.
CCZ’s board is keenly focused on deepening its understanding of NWQ’s potential, aiming to prove-up the more than 20 prospects on the tenure to better facilitate engagement with potential strategic partners.
Critical information
“With over 20 prospects across the NWQ Copper Project, which is now earmarked as a core asset, the geology team has considerable work ahead to fully assess the collective exploration potential,” Castillo Copper chair Ged Hall said.
“This is critical information to have mapped out as the board channels its efforts into aligning with a strategic development partner.”
CCZ’s geology team visited the NWQ Project’s Boomerang and Josephine prospects to assess the exploration potential, as both are interpreted to be prospective for structurally controlled copper mineralisation.
The team also collected 21 rock chip samples from the Surprise Creek formation and 13 outcropping rock chips from the Gunpowder Formation, Paradise Creek Formation and Surprise Creek Formation at the Josephine Prospect.
The rock-chip samples were sent to ALS Brisbane for multi-element analysis, with assay results identifying elevated levels of copper up to 0.46% copper at the Boomerang Prospect.