Castillo Copper Share Discussion Threads

[thelung] 18/7/2021 08:26

Thanks 2mex. I'm wondering if those drills through the low grade halo were revisited with downhole EM inbetween campaigns hence the proximal redrill

[2mex] 17/7/2021 21:47

Six holes were marked as "not drilled yet" so here is the average from the thirteen holes drilled:

Average Cumulative Thickness ore per drill hole: 17.6m

Average Percentage Copper: 0.623 %Cu
(correctly weighted)

So, on average, if you are standing in that area you have 17.6m of ore @0.623 %Cu underneath you.

Best Intercepts:
BO_2020_206RC (3)___2m @ 1.37 %Cu
BO_2020_207RC (3)___3m @ 1.02 %Cu
BO_2020_213RC (1)__12m @ 1.37 %Cu
BO_2020_301RC (4)__11m @ 4.31 %Cu *1
BO_2020_303RC (4)___4m @ 2.1 %Cu
BO_2020_303RC (5)___8m @ 4.82 %Cu *2

*1 - 1 to 2% black oxides likely CuOx + minor malachite; From 30-41m 4.31% Cu and 887ppm Co; including 37-40m @ 11.4% Cu and 1,087ppm Co

*2 - 2% malachite and 5% chalcocite for the interval. 20% chalcocite @ 29-30m; From 28 -36m @ 4.82% Cu + also 162ppm Co; including 29-30m @ 16.65% Cu and 487ppm Co.

The above six intercepts dragged the average %Cu up.

The rest of the drill hole results were atrocious

The report headline was:
"Two 40-44m wide potentially economic intercepts from surface, with up to 16.65% Cu"

Well, no it is not economic because the rest is rubbish and the "up to 16.65%" is relatively wafer thin and a pocket.

When the Big One drill campaign is done, I expect them to waffle about analysing the most economic approach to mining the site - moving swiftly on to the Arya drills.

[2mex] 17/7/2021 21:43

I have crunched the numbers for the following drills done which have assay results.

BO_2020_201RC intercept 1
BO_2020_201RC intercept 2
BO_2020_202RC intercept 1
BO_2020_203RC intercept 1
BO_2020_203RC intercept 2
BO_2020_203RC intercept 3
BO_2020_204RC N/A
BO_2020_205RC N/A
BO_2020_206RC intercept 1
BO_2020_206RC intercept 2
BO_2020_206RC intercept 3
BO_2020_206RC intercept 4
BO_2020_207RC intercept 1
BO_2020_207RC intercept 2
BO_2020_207RC intercept 3
BO_2020_207RC intercept 4
BO_2020_208RC N/A
BO_2020_209RC N/A
BO_2020_210RC N/A
BO_2020_211RC intercept 1
BO_2020_211RC intercept 2
BO_2020_211RC intercept 3
BO_2020_211RC intercept 4
BO_2020_211RC intercept 5
BO_2020_211RC intercept 6
BO_2020_212RC N/A
BO_2020_213RC intercept 1
BO_2020_213RC intercept 2
BO_2020_301RC intercept 1
BO_2020_301RC intercept 2
BO_2020_301RC intercept 3
BO_2020_301RC intercept 4
BO_2020_301RC intercept 5
BO_2020_302RC intercept 1
BO_2020_302RC intercept 2
BO_2020_302RC intercept 3
BO_2020_302RC intercept 4
BO_2020_303RC intercept 1
BO_2020_303RC intercept 2
BO_2020_303RC intercept 3
BO_2020_303RC intercept 4
BO_2020_303RC intercept 5
BO_2020_303RC intercept 6
BO_2020_303RC intercept 7
BO_2020_304RC intercept 1
BO_2020_304RC intercept 2
BO_2020_305RC intercept 1
BO_2020_305RC intercept 2
BO_2020_305RC intercept 3
BO_2020_305RC intercept 4
BO_2020_306RC intercept 1
BO_2020_306RC intercept 2

[2mex] 17/7/2021 20:20

TheLung (post 693), here is the data you mentioned:

Drillhole_______ From(m) _ To(m)_ Thickness(m)_ Average Cu ppm
BO_2020_201RC______0 ______4 _________4 ____________614ppm
BO_2020_201RC______26 _____33 ________7 ___________<100ppm
BO_2020_202RC______52 _____56 ________4 ____________193ppm
BO_2020_203RC______48 _____57 ________9 ___________<100ppm
BO_2020_203RC______59 _____64 ________5 ___________<100ppm
BO_2020_203RC______78 _____88 ________10 __________<100ppm


As % Copper:

BO_2020_201RC______0.0614 %Cu
BO_2020_201RC_____&lt;0.01 %Cu
BO_2020_202RC______0.0193 %Cu
BO_2020_203RC_____&lt;0.01 %Cu
BO_2020_203RC_____&lt;0.01 %Cu
BO_2020_203RC_____&lt;0.01 %Cu

[imjustdandy] 17/7/2021 14:04

If the news is game changing then 10p on the cards

[2mex] 16/7/2021 21:43

Of course DM, the shaping will add to the complexity / time sorting ore from rock. 👍

[the diddymen] 16/7/2021 20:45

2mex - assuming that the drills represent the average distribution of the resource. The extent and shape will also be very relevant to the costing.

[thelung] 16/7/2021 15:41

On the previous campaign, a midweek 'imminent' was usually followed by news on the following Monday.

"Assays for the first three drill-holes, BO_315RC-17RC, are proximal to BO_2020_201RC-03RC"

Can't find the assays for BO_2020_201RC-03RC.........

[2mex] 16/7/2021 15:40

BO_318RC cumulative 45.0m

BO_319RC cumulative 16.0m

BO_320RC cumulative 1.0m

BO_321RC cumulative 14.0m

BO_315RC cumulative 12.0m

BO_316RC cumulative 24.5m

BO_317RC cumulative 20.5m

Average cumulative 19m


Take 1 square metre and apply average cumulative thickness, that's 19 cubic meters of ore.

Price of Copper is £7K per tonne. At 2%Cu that would be £141 worth of copper within each cubic meter.

So, on average, standing on 1 square metre within the zone BO_315C to BO_321C, you will have £141 x 19 = £2679 worth of copper under you.

Now the question is, how much would it cost to excavate the 100m of rock per square metre and how much to then transport the ore and then extract the metal?

Plant hire, labour, facilities, logistics, processing.

Looking at hire of a big excavator, earth mover dump truck and loader, you are into hire prices approaching £2000 per day. Then labour, facilities, logistics, processing costs on top.

2%Cu will not cut it.. and a few patches of higher grade will not be good enough.

You also have to consider that the landowner will want a nice chunk of cash and (if he agrees it can go ahead) will want the waste sorting - another hidden cost, more plant hire, labour, facilities.

So it has to be feasible. That's the reality.

[2mex] 16/7/2021 14:53

They will have been all over the samples with the XRF gun before dispatch for assay. Anything positive certainly has not leaked.

The %Cu will have to be a lot better than previous averages to make it worth open casting through rock down to 100m.

Maybe we will see on Monday or whatever "imminent" was meant to mean :o)

[con90210] 16/7/2021 10:19

Needs a lift and this should help. Surprised not nearer 3p awaiting assay results.

[linz22] 16/7/2021 07:54

The word 'massive' is a greatly misused term, not least by footballers and the like who tend to use it over-frequently to mean something else, like 'very important', or 'really good', for example.

And, while in reference to size, or the ammount of something, it is of course synonymous with 'huge', or 'abundant' (with particular implications to a RNS from a miner/explorer!), in this case the term 'massive' refers to the NATURE of the deposit in question, not its size.

So, while the interractions while drilling may well have been large (or not), they are referenced as being massive, ie. a consistent, homogenous mass, or, a big solid block, if you will, as opposed to being disseminated, for example, or scattered.

But, no matter how it is dressed up, or the ramifications of the recent RNS interpretted, it all seems like good news to me - without reason for the disappointing reaction to the share price...

[the diddymen] 16/7/2021 07:51

Haha it was the last name I saw before I registered on ADVFN years ago, so no links with Kenn Dodd. He was quite a character.

[taxlosstone] 15/7/2021 21:58

Hi Diddy. If the truth be known I could not give a toss about thumbs up or down but I agree that the news appeared encouraging & the upside here could be, dare I say, massive? :-)By the way, I have family who live in Knotty Ash.

[imjustdandy] 15/7/2021 21:56

Exactly- copper roads and pavements by the sound of things. Not long to wait.

[the diddymen] 15/7/2021 21:50

Taxlosstone I would not get too sensitive with the posts or votes on any board! The bottom line at the moment appears to be 'there is more there than we thought'. We will just have to wait for more info.

[taxlosstone] 15/7/2021 19:34

Blimey! This is a tough board. I tried to politely clarify a misunderstanding & received a thumbs down. Just as well I did not post one of my usual offensive comments. :-)

[bosbus] 15/7/2021 13:17

Pension planner . look up the definition of Massive Sulphide Deposit and you'll see that Massive in that context, does not mean huge.

[bosbus] 15/7/2021 13:16

Pension planner . look up the definition of Massive Sulphide Deposit and you'll see that Massive in that context, does not mean huge.

[pensionplanner] 15/7/2021 12:33

tax loss. "very large in size, amount, or degree"

[con90210] 15/7/2021 10:32

So this could bounce higher today or tomorrow ahead of a possible Mon rns...

[imjustdandy] 15/7/2021 10:29

All samples from drill-holes BO_318-21RC are currently with the laboratory for analysis, while results from BO_315-317RC are expected to be received imminently.

IMMINENTLY - means like yesterday

[taxlosstone] 15/7/2021 10:28

PPUnfortunately the word massive does not indicate the amount, I believe. :-(

[con90210] 15/7/2021 10:18

When realistically are the assay results due?

[pensionplanner] 15/7/2021 10:15

I'd have been surprised to get the essay results straight away as they are subjected to vigorous tests.