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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Castillo Copper Limited | LSE:CCZ | London | Ordinary Share | AU000000CCZ2 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.25 | 0.20 | 0.30 | 0.287 | 0.25 | 0.25 | 0.00 | 08:00:21 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Copper Ores | 0 | -6.94M | -0.0053 | 0.00 | 0 |
From Apr 2022 to Apr 2024
TIDMCCZ
RNS Number : 4719N
Castillo Copper Limited
23 January 2023
23 January 2023
CASTILLO COPPER LIMITED
("Castillo", or the "Company")
NWQ Copper Project's development targets
Castillo Copper Limited (LSE and ASX: CCZ), a base metal explorer primarily focused on copper across Australia and Zambia, announces that following a review of prospects within the NWQ Copper Project (Appendix A), has authorised the geology team to visit several prospects - including Big One, Arya and Valparaisa - during 1H 2023 to identify new targets for test-drilling.
HIGHLIGHTS:
-- Initial focus will be on the Big One, which has an inferred Mineral Resource Estimate (MRE) of 2.1Mt @ 1.1% Cu for 21,886kt(1) copper metal post-two drilling campaigns across 2020-21:
o Factoring in a large conductor north of the line of lode, plus reconciling available geophysics and geochemical data, Castillo's geological consultant has set an Exploration Target that ranges from 2-6Mt @ 0.6-1% Cu for 12-60kt copper metal*
-- The Valparaisa Prospect comprises copper mineralisation across two horizons over a 6km strike event, with the interaction of two intersecting faults suggesting a structurally controlled copper system that can potentially be drill-tested(2)
-- At the Arya Prospect, there is a significant magnetic anomaly, south of a known graphite system(3) (test drilled in late 2021), that shows potential to be a primary source of copper mineralisation
-- Meanwhile, final drill and auger assays, which are still pending, should define the potential scale of the rare earth element discovery at the BHA Project's East Zone
Dr Dennis Jensen, Managing Director of Castillo Copper, said: "With the macro-outlook for copper remaining upbeat, the Board has authorised the geology team to visit several prospects to identify new targets to test-drill. Key areas of focus include increasing the grade and confidence in the current MRE at Big One and the magnetic anomaly at the Arya Prospect. Given the large size of the NWQ Copper Project, the Board remains open to aligning with a strategic partner to further advance development work."
* Cautionary Statement: It should be noted that the Exploration Target tonnage range quoted above are conceptual in nature and there has been insufficient exploration to define a copper resource. Although a preliminary analysis was undertaken, insufficient data exists to confidently correlate mineralised horizons within the Exploration Target area. It is uncertain whether further exploration may lead to the reporting of a JORC-standard resource, however, there is some evidence to support the current exploration tonnage calculations, and the sufficient mineralised thicknesses interpreted from historical drilling to warrant further investigation in some areas.
NWQ Copper Project - Site Visit
A summary of salient points from the review for the three prospects highlighted follows:
Big One
Whilst some areas around Big One were drill-tested in the 2020-21 drilling campaigns, much of the area remains under-explored which highlights the exploration potential.
Utilising information from Castillo's drilling campaigns, complemented with historical data, Castillo's geological consultant compiled an extensive database, built a block model, and produced a maiden 2012 JORC Inferred MRE at 2.1Mt @ 1.1% Cu for 21,886kt copper metal(1) (Figure 1).
FIGURE 1 : MINERAL RESOURCE TONNAGES BIG ONE COPPER MINE
Hot Features
Premium
Tenure Ore Depth Specific Inferred Indicated Copper Silver Contained Contained
Name Type (m) Gravity (Mt) (Mt) Grade Grade Copper Silver
(kg/m(3) % g/t (t) (kg)
)
========== ============== ========== ========= ========== ======= ======= ==========
At
Mine Dumps Oxidised surface/ROM 2.55 0 0.007 1.2 4.0 86 29.6
========== ============== ========== ========= ========== ======= ======= ========== ==========
Mine Insitu Oxidised 2-70 2.65 1.7 0 1.0 1.1 17,000 1,870
========== ============== ========== ========= ========== ======= ======= ========== ==========
Mine Insitu Fresh 70-120 2.75 0.4 0 1.2 1.4 4,800 560
========== ============== ========== ========= ========== ======= ======= ========== ==========
Sub-Totals 2.1 0.007 21,886 2,459.6
============== ========== ========= ========== ======= ======= ========== ==========
Note: No measured resources estimated
Source: CCZ geology team
Building on this work, the geology team believe further drilling is warranted along the known orebody to the east, north and downdip as it is not fully defined. Specifically, the geology team believe a well-designed drilling campaign - focussing on diamond coring - has the potential to materially increase the grade and confidence in the current MRE, as the orebody is open to the east and downdip.
In addition, an Exploration Target* (to the standard of Clause 17 of the 2012 JORC Code) has been estimated utilising the following information:
-- the MRE plus some areas proximal to and downdip to the main resource shell; and -- available geophysics and surface sampling data.
The Exploration Target's* mid-range is 4Mt @ 0.6-1.0% Cu, with the low at 2Mt and high at 6Mt - refer to Figures 2 and 3. It should be explained that this is an enlarged range of tonnage compared to the MRE due a new wireframe model extended along the entire line of lode.
* Cautionary Statement: It should be noted that the Exploration Target tonnage range quoted above are conceptual in nature and there has been insufficient exploration to define a copper resource. Although a preliminary analysis was undertaken, insufficient data exists to confidently correlate mineralised horizons within the Exploration Target area. It is uncertain whether further exploration may lead to the reporting of a JORC-standard resource however there is some evidence to support the current exploration tonnage calculations, and the sufficient mineralised thicknesses interpreted from historical drilling to warrant further investigation in some areas.
FIGURE 2: BIG ONE - EXPLORATION TARGET *
Target Strike Strike Width Width Depth Depth Density Density
Length Length (m) (m) below surface below surface (t/m(3) (t/m(3)
(m) (m) (m) (m) ) )
Ranges Low High Low High Low High Low High
======== ======== ====== ====== =============== =============== ========= =========
Big One 600 1,550 4 14 10 190 2.65 2.80
======== ======== ====== ====== =============== =============== ========= =========
Note: Mid-points as follows - Strike length (1,550m); Width (9m); Depth below surface (100m); Density (2.725t/m3)
Source: CCZ geology team
FIGURE 3: BIG ONE - EXPLORATION TARGET FOR COPPER *
Target Tonnage Tonnage Grade (%) Grade Contained Contained
(Mt) (Mt) (%) Cu (t) Cu (t)
Ranges Low High Low High Low High
======== ======== ========== ====== ========== ==========
Big One 2.0 6.0 0.6 1.0 12,000 60,000
======== ======== ========== ====== ========== ==========
Note :
1. Mid-points as follows - Tonnage (4Mt); Grade (0.8%); Contained copper (32,000t) 2. Volume and mass are exclusive of the Big One Copper Mine's Inferred resource shell.
3. Where quoted, it should be noted that where Exploration Target tonnages are estimated in this ASX Release, they are considered non-JORC (Clause 17 Exploration Results) and are conceptual in nature. There has been insufficient exploration to define a Mineral Resource and that it is uncertain if further exploration will result in the determination of a Mineral Resource.
4. At 0.5% Cu cut-off.
Source: CCZ geology team
* Cautionary Statement: It should be noted that the Exploration Target tonnage range quoted above are conceptual in nature and there has been insufficient exploration to define a copper resource. Although a preliminary analysis was undertaken, insufficient data exists to confidently correlate mineralised horizons within the Exploration Target area. It is uncertain whether further exploration may lead to the reporting of a JORC-standard resource however there is some evidence to support the current exploration tonnage calculations, and the sufficient mineralised thicknesses interpreted from historical drilling to warrant further investigation in some areas.
Valparaisa Prospect
The Valparaisa Prospect comprises copper mineralisation in two horizons - termed the "upper and lower copper beds" - within the Middle Gunpowder Creek Formation over a 6km strike length (Figure 4). Compared with the 'upper bed' the 'lower bed' has the stronger outcrop and more copper staining(2) .
Previous explorers, including BHP, undertook rock-chip sampling which returned high-grade assay results up to 2,530ppm Cu, demonstrating prospectivity at surface for copper mineralisation(2) . Interestingly, the surface anomalism aligns with the interaction of two intersecting faults - Mt Gordon (SW-NE - links to Mt Mammoth Deposit) and Valparaisa (SSE-NNW).
Reconciling and interpreting the foregoing facts has postulated that there is a structurally controlled copper system at the Valparaisa Prospect.
FIGURE 4: VALPARAISA PROSPECT - SOLID GEOLOGY, ROCK CHIPS & DRILLHOLES
Source: CCZ geology team
In terms of identifying potential targets for closer scrutiny, a key positive was identifying the Whitworth Quartzite rock formation within the Valparaisa fault. This is significant as it hosts copper sulphide mineralisation within the Mt Gordon fault at the Mt Mammoth Deposit. Reconciling this against overlaid magnetic imagery, enables several target areas for structurally controlled copper and supergene ore mineralisation to be generated (Figure 5).
FIGURE 5: STRUCTURALLY CONTROLLED AND SUPERGENE TARGETS
Source: CCZ geology team
Arya Prospect
A limited drilling campaign in late 2021, designed to test several large airborne electro-magnetic and ground resistivity anomalies, confirmed a low-grade graphite system that won't be further explored (refer Appendix B for assay results).
However, a sizeable magnetic anomaly - south of the known electro-magnetic anomalies - is interpreted to be associated with known surface copper and to a lesser degree silver mineralisation. A key focus of the site visit is to determine if this should be drill-tested as it may be a primary source of base metal mineralisation at the Arya Prospect.
In terms of regional geology, the Arya Prospect is located in the Western Mt Isa Succession, within a structurally deformed and copper anomalous district that hosts the Capricorn Copper Mine, Mt Oxide Mine and the Ladie Annie Mine. These are hosted within units of the upper Myally sub-group to lower McNamara Group, while the Arya Prospect is hosted within the Surprise Creek formation (Figure 6).
FIGURE 6: STRATIGRAPHIC COLUMN
Source : Smith (2019) - reference 4
In terms of local geology, the Arya Prospect is located within the Surprise Creek Formation unit (Prd), with several results from rock-chip sampling indicative of a structural system for anomalous copper values (Figure 7). Moreover, the Arya Prospect is proximal to an east to north-east trending fault that offsets the Surprise Creek unit (Prd) from lower units near the base of the Surprise Creek Formation, and Myally Sub-Group units, including quartzites, and sandstones.
FIGURE 7: COPPER GEOCHEMISTRY ON QUEENSLAND GOVT GEOLOGICAL MAP
Source : Smith (2019) - reference 4
Interpreting these findings, suggests probable mineralisation styles include:
-- Supergene mineralisation forming at the surface along the fault, fault breccia, and the Surprise Creek Formation (PLrd) rock unit.
-- Epigenetic replacement mineralisation for Cu (with minor components of other base metals and gold) from replacement carbonate mineralisation, particularly the Surprise Creek Formation.
-- Skarn mineralisation for Cu-Au and/or Zn-Pb-Cu from replacement carbonate mineralisation, particularly the Surprised Creek Formation.
-- Sulphide mineralisation within breccia zones, along stress dilation fractures, emplaced within pore spaces, voids, or in other rock fractures; and/or dykes.
Main ore minerals observed comprise:
-- Malachite and chrysocolla along foliation, in brecciated/strongly haematitic sedimentary rocks.
-- Quartzite/rhyolite with chrysocolla on joint surfaces and fractures, circa 3-5% Cu. -- Malachite and azurite on joint planes in porous sandstone.
For further information, please contact:
Castillo Copper Limited +61 8 6558 0886 Dr Dennis Jensen (Australia), Managing Director Gerrard Hall (UK), Chairman SI Capital Limited (Financial Adviser and Corporate Broker) +44 (0)1483 413500 Nick Emerson Gracechurch Group (Financial PR) +44 (0)20 4582 3500 Harry Chathli, Alexis Gore, Henry Gamble
About Castillo Copper
Castillo Copper Limited is an Australian-based explorer primarily focused on copper across Australia and Zambia. The group is embarking on a strategic transformation to morph into a mid-tier copper group underpinned by its core projects:
-- A large footprint in the Mt Isa copper-belt district, north-west Queensland, which delivers significant exploration upside through having several high-grade targets and a sizeable untested anomaly within its boundaries in a copper-rich region.
-- Four high-quality prospective assets across Zambia's copper-belt which is the second largest copper producer in Africa.
-- A large tenure footprint proximal to Broken Hill's world-class deposit that is prospective for zinc-silver-lead-copper-gold and platinoids.
-- Cangai Copper Mine in northern New South Wales, which is one of Australia's highest grading historic copper mines.
The group is listed on the LSE and ASX under the ticker "CCZ."
Competent Person's Statement
The information in this report that relates to Exploration Results and Mineral Resource Estimates for "BHA Project, East Zone" is based on information compiled or reviewed by Mr Mark Biggs. Mr Biggs is a director of ROM Resources, a company which is a shareholder of Castillo Copper Limited. ROM Resources provides ad hoc geological consultancy services to Castillo Copper Limited. Mr Biggs is a member of the Australian Institute of Mining and Metallurgy (member #107188) and has sufficient experience of relevance to the styles of mineralisation and types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, and Mineral Resources. Mr Biggs holds an AusIMM Online Course Certificate in 2012 JORC Code Reporting. Mr Biggs also consents to the inclusion in this report of the matters based on information in the form and context in which it appears.
References
1) CCZ ASX Release - 28 February 2022 2) CCZ ASX Release - 7 September 2020 3) CCZ ASX Release - 10 August 2021 & 17 November 2021; 28 January 2022
4) Smith P., 2019, Ayra Mt Oxide prospect, unpublished report by Yoda Consulting Pty Ltd to Castillo Copper Limited, Apr 2019, 15pp.
APPIX A: NWQ COPPER PROJECT
FIGURE A1: PROSPECTS WITHIN NWQ COPPER PROSPECT
Source: CCZ geology team
APPIX B: ARYA PROSPECT - METALLURGICAL TESTS
Background petrographic description
One composite sample from drill-hole AR_002RC, sized into 7 fractions, was submitted for optical investigation, with the main aim of characterising the presence and mode of occurrence of graphite (Schulz and others 2022; refer to Appendix C for reference list).
Polished blocks were prepared for all size fractions, and these were examined using a petrographic microscope (reflected light). Further, representative splits of the +800 um and +500 um fractions were examined using a stereo microscope.
Reflected light images of selected fields of the polished blocks (all size fractions) and stereo-microscope images of the unmounted +800 um and +500 um fractions were included in the metallurgical report (refer Appendix C: Schulz and others 2022). Figure AB-1 illustrates the nature of mica and sulphide inclusions in the sized schist chips.
FIGURE AB-1: PHOTOMICROGRAPH - SCHIST PARTICLES W/MICA & SULPHIDE INCLUSIONS
Source: ALS Perth
The presence of graphite was confirmed by the optical investigation. With the chosen settings, graphite particles are identified as creamy white, elongated particles under reflected light. The graphite flakes range in size from a few um (not positively identifiable by the optical investigation) to about 50 um in length.
They occur as fine-grained flakes within larger, silicate-rich particles (see Figure AB-2 for an example of the graphite grains).
FIGURE AB-2: GRAPHITE AND SULPHIDE INCLUSIONS WITHIN SCHIST FRAGMENTS
Source: ALS Perth
Graphite sizing and optical analysis
The composite sample supplied to ALS Perth's laboratory was made up as follows:
-- AR_002RC: 17m - samples CCZ03231 (73m) to CCZ03247 (90m) from the coarsest fraction saved. This graphite prospect is low grade, but there are large thicknesses (e.g., 56m @ 1.35% TGC and 0.25 g/t Ag in one hole). The field association of the Ag and its relationship to graphite has yet to be resolved. The sulphur and vanadium reporting from assays over the graphite horizons are low.
-- The sizing of the supplied RC chips and subsequent testing and optical analysis is given by Figure AB-3 below. No further sizing was conducted on the graphite component.
FIGURE AB-3: AR_002RC SIZING AND OPTICAL ANALYSIS
Note:
1. This sizing distribution is for the whole RC chip composite, not the graphite component. 2. No graphite grains above 50um in length were detected.
Source: ALS Perth
APPIX C: JORC CODE, 2012 EDITION - TABLE 1 AYRA DRILLING AND SURFACE ROCK CHIP SAMPLING
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation Commentary
Sampling Drilling
techniques * Nature and quality of sampling (e.g., cut channels, * Reverse Circulation samples were taken off a cyclone
random chips, or specific specialised industry for every metre drilled, put through a three tier,
standard measurement tools appropriate to the 87.5/12.5 splitter where approximately 2.5 kg of RC
minerals under investigation, such as down hole gamma chip samples were collected for every metre drilled.
sondes, or handheld XRF instruments, etc). These The remainder was bagged separately and stored in
examples should not be taken as limiting the broad case additional sub sampling is required before the
meaning of sampling. end of the program.
* Include reference to measures taken to ensure sample * Samples were also composited every four metres where
representivity and the appropriate calibration of any visual inspection did not initially indicate copper
measurement tools or systems used. or cobalt mineralisation. All samples were collected
to maximise optimal representation for each sample.
* Aspects of the determination of mineralisation that
are Material to the Public Report. * Each metre sample had an amount removed for washing
and cleaning and sieving then place into metre
allocated chip trays. These chips were logged on site
* In cases where 'industry standard' work has been done by the rig geologists and those logs have been saved
this would be relatively simple (e.g., 'reverse into a spreadsheet and stored on the Company server.
circulation drilling was used to obtain 1 m samples Any visible mineralisation, alteration or other
from which 3 kg was pulverised to produce a 30 g salient features were recorded in the logs.
charge for fire assay'). In other cases, more Industry-wide, acceptable, standard practices were
explanation may be required, such as where there is adhered to for the drilling and sampling of each
coarse gold that has inherent sampling problems. metre as per the drilling and sampling Procedures set
Unusual commodities or mineralisation types (e.g., out before commencement of the drilling programme.
submarine nodules) may warrant disclosure of detailed
information.
Rock Chip Sampling
* CCZ completed rock chip sampling methods over at
least four (4) separate surface sampling campaigns
and are described in the October and November 2021
ASX Releases, a generalised description of rock chip
sample collection is presented here.
* Rock Chip Samples - were collected up to
approximately a 5m radius around the recorded
co-ordinate location. The rock chip fragments that
were collected to make up the sample included a
typical fragment size that approximately ranged from
2-5cm.
* Sub-sampling occurred as described in the section
'Sub-sampling techniques and sample preparation' in
Section 1 of the current Table 1.
* The surface sample results described in this ASX
Release are suitable for the reporting 'exploration
results' for mineral prospectivity, additional
exploration work would have to be completed to
geologically model and then estimate a mineral
resource.
================================================================= =================================================================
Drilling
techniques * Drill type (eg core, reverse circulation, open-hole * Arya. Reverse Circulation, RC, and Rotary Air blast
hammer, rotary air blast, auger, Bangka, sonic, etc) (RAB) drilling techniques were utilised for all holes
and details (eg core diameter, triple or standard drilled at the Arya Deposit.
tube, depth of diamond tails, face-sampling bit or
other type, whether core is oriented and if so, by
what method, etc).
================================================================= =================================================================
Drill sample
recovery * Method of recording and assessing core and chip * For the 2021 program, within acceptable industry
sample recoveries and results assessed. standard limits, all samples collected were of near
equal mass and recoveries were also within acceptable
limits for RC drilling and all recorded in the daily
* Measures taken to maximise sample recovery and ensure logs. Every effort was made on site to maximise
representative nature of the samples. recovery including cleaning out the sample trays,
splitter and cyclone and ensuring that the drillers
progressed at a steady constant rate for the rig to
* Whether a relationship exists between sample recovery easily complete each metre effectively.
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse
material.
================================================================= =================================================================
Logging
* Whether core and chip samples have been geologically * Every metre drilled and sampled was logged
and geotechnically logged to a level of detail to geologically in accordance with industry-wide
support appropriate Mineral Resource estimation, acceptable standard for RC logging and the logging
mining studies and metallurgical studies. was qualitative in nature with every metre logged.
The 2021 program recorded visible sulphide, carbonate
,
* Whether logging is qualitative or quantitative in and graphite concentrations and alteration minerals,
nature. Core (or costean, channel, etc) photography. such as orthoclase, epidote, chlorite, and sericite.
* The total length and percentage of the relevant
intersections logged.
================================================================= =================================================================
Sub-sampling Drilling
techniques * If core, whether cut or sawn and whether quarter, * For the 2021 program, samples with pXRF copper
and sample half or all core taken.
preparation
* Each metre sample had an amount removed for washing
* If non-core, whether riffled, tube sampled, rotary and cleaning and sieving then place into metre
split, etc. and whether sampled wet or dry. allocated chip trays. These chips were logged on site
by the rig geologists and those logs have been saved
into a spreadsheet and stored on the Company server.
* For all sample types, the nature, quality, and Any visible mineralisation, alteration or other
appropriateness of the sample preparation technique. salient features were recorded in the logs. Industry
wide, acceptable, standard practices were adhered to
for the drilling and sampling of each metre as per
* Quality control procedures adopted for all the Drilling and Sampling Procedures set out before
sub-sampling stages to maximise representivity of commencement of the drilling programme.
samples.
* Any reporting of significant mineralised intervals
* Measures taken to ensure that the sampling is was on a received apparent thickness x interval
representative of the in-situ material collected, calculation (i.e., thickness averaged).
including for instance results for field
duplicate/second-half sampling.
Rock Chip Sampling
* All surface samples were collected dry.
* Whether sample sizes are appropriate to the grain
size of the material being sampled.
* The surface sample results described in this ASX
Release are suitable for the reporting 'exploration
results' for mineral prospectivity, additional
exploration work would have to be completed to
geologically model and then estimate a mineral
resource.
================================================================= =================================================================
Quality
of assay * The nature, quality and appropriateness of the * CCZ's RC holes were assayed by an independent
data and assaying and laboratory procedures used and whether laboratory, ALS at Mt Isa, Townsville, or Brisbane
laboratory the technique is considered partial or total. Australia. Methods used were as follows:
tests
* For geophysical tools, spectrometers, handheld XRF o Gold - by method Au-AA25 30g charge (fire Assay
instruments, etc, the parameters used in determining with AAS finish).
the analysis including instrument make and model, o High gold values within oxide zone/supergene
reading times, calibrations factors applied and their zone may need further testing by method Au-SCR21.
derivation, etc. o Copper and 32 other - by method ME-MS61 (HF-HN03-HCL04
acid digest, HCL leach and ICP-AES finish).
o Over-limit copper (>10,000 ppm [0.01%]) to be
* Nature of quality control procedures adopted (eg re assayed for copper by method Cu-OC62 (HF-HN03-HCL04
standards, blanks, duplicates, external laboratory acid digest, HCL leach and ICP-AES finish).
checks) and whether acceptable levels of accuracy (ie * These analytical methods are considered as suitable
lack of bias) and precision have been established. and appropriate for this type of mineralisation.
For the current drilling program ALS Brisbane will
analyse all samples. All elements except for gold
were analysed by method ME-MS61 (41 element testing
via Aqua Regia digest then ICP-AES) and with any
copper assays >1%, the copper will be redone using
method Cu-OG46 with ICP-AES. The gold was done
by method AA25. All methods used were both suitable
and appropriate for the styles of mineralisation
present in the Big One Deposit at the time of sampling.
================================================================= =================================================================
Verification
of sampling * The verification of significant intersections by * All CCZ's RC hole samples have been audited for
and assaying either independent or alternative company personnel. completeness from ALS have been reviewed by two
independent consultant geologists.
* The use of twinned holes.
* For current the rock chip sampling, Independent
Laboratory assaying by ALS has confirmed, within
* Documentation of primary data, data entry procedures, acceptable limits, the occurrences of high-grade
data verification, data storage (physical and copper inferred from the initial XRF readings.
electronic) protocols. Laboratory standards and duplicates were used in
accordance with standard procedures for geochemical
assaying.
* Discuss any adjustment to assay data.
================================================================= =================================================================
Location
of data * Accuracy and quality of surveys used to locate drill * For rock chip samples positions were recorded by
points holes (collar and down-hole surveys), trenches, mine handheld GPS with areas highlighting anomalies
workings and other locations used in Mineral Resource sometimes returned to for additional sampling and
estimation. locations checked by handheld GPS.
* Specification of the grid system used. * Locational data for the 4 drillholes completed.
Collars are listed in MGA94 Zone 54 Easting (mE) and
Northing (mN); refer to Table AC-1 below.
* Quality and adequacy of topographic control.
* The Arya rock chip sample dataset is anticipated on
average to have up to a +/-20m horizontal level of
accuracy in sample locations and range up to a +/-10m
of accuracy in sample locations for vertical
accuracy.
Surface sample and assay data had been prepared
and compiled into Manifold GIS System and all data
converted to GDA94-Zone 54.
================================================================= =================================================================
Data spacing
and * Data spacing for reporting of Exploration Results. * For the Arya surface sampling modelling for copper,
distribution the average RMS sample-to-sample spacing was as
follows:
* Whether the data spacing, and distribution is
sufficient to establish the degree of geological and
grade continuity appropriate for the Mineral Resource o Rock chip 200m
and Ore Reserve estimation procedure(s) and * Drillholes were spaced approximately 250m apart.
classifications applied.
* Whether sample compositing has been applied.
================================================================= =================================================================
Orientation
of data * Whether the orientation of sampling achieves unbiased * In general, the strike of the Surprise Creek
in relation sampling of possible structures and the extent to Formation is east-northeast to east, dipping
to which this is known, considering the deposit type. moderately to the north.
geological
structure
* If the relationship between the drilling orientation * For 'Arya' rock chips there was no fixed orientation
and the orientation of key mineralised structures is as these methods were used in the first instance to
considered to have introduced a sampling bias, this define distinct areas of anomalisms, based on areas
should be assessed and reported if material. of observed surface mineralisation.
* For 'Arya' rock chips that produced significant
anomalous values appear to be associated with the
mapped fault, fault bounded breccia, and the Surprise
Creek Formation 'PLrd' rock unit ('Prd' historical)
that dominates the 'Arya' prospect to the south of
the fault.
* All drilling is intended to be vertical to intersect
the dipping sedimentary beds.
================================================================= =================================================================
Sample
security * The measures taken to ensure sample security. * Each day's RC samples were removed from site and
stored in a secure location off site.
* The RC chip samples taken were securely locked within
the vehicle on site until delivered to Mt Isa for
despatch to the laboratory in person by the field
personnel.
================================================================= =================================================================
Audits No external reviews or audits have been undertaken,
or reviews * The results of any audits or reviews of sampling except for the Independent Geologists Report by
techniques and data. SRK in 2019 for the LSE Listing and a review of
the airborne and ground geophysics by the GeoDiscovery
Group. Note, the reference is: Nelson K., Review
of open file EM and magnetic geophysical data at
Arya Prospect, GeoDiscovery Group, unpublished
confidential report to Castillo Copper Limited,
June 2021, 16pp.
================================================================= =================================================================
Drilling program summary
The inaugural drilling campaign at the Arya Prospect (Figure AC-1) was completed in December 2021, after a massive logistical effort to prepare the drill-pads and heli-lift the rig and all supporting equipment to site (see Figure AC-2). In each hole thick horizons (up to 55m) of dark grey and black carbonaceous siltstone / schist were intersected (Figure AC-3), with scattered, sparse base-metal sulphides, low levels of silver and TREO (to 400ppm), and fine-grained graphite mineralisation occurrences which remains open in all directions and to depth.
FIGURE AC-1: PROSPECTS COMPRISING THE NWQ COPPER PROJECT
Source: CCZ geology team
FIGURE AC-2: DRILLING AT SITE AR_20 (AR_001RCR)
Location: 351825 mN; 7865551 Mn; Source: CCZ geology team
The "proof of concept" campaign, which eventually only comprised five initial RC drill-holes at four sites. Delays to the drilling were extensive and have included:
-- Wet weather and flooding. -- Daytime temperatures >43 degrees Celsius. -- Compressor overheating. -- Drill thread breaking. -- Large water flows in each hole drilled. -- Bushfires. -- Helicopter lifts of all gear required between sites and daily travel to/from site. -- Very hard quartzite wearing down hammer components.
The key focus was drill-testing the three targets identified by BHP in the mid-1990s including EG01, EG02 and EG10. Of these, EG01 had been interpreted to potentially be a massive sulphide bedrock conductor 130m thick, 1,500m long and 450m wide at a revised 100-200m depth.
Drilling to date has found no sign of massive copper sulphide mineralisation, but instead thick horizons (10-40m) of a dark grey to black carbonaceous, siltstone to schist, exhibiting scattered base metal mineralisation and fine-grained graphite occurrences (Figure AC-3). The horizons are not magnetic, but portable XRF readings, supported by laboratory analyses have identified scattered anomalous chromium, zinc, cobalt, manganese, and rare earth element readings throughout the sequence (Figure AC-4). All 1m samples were collated to 4m composites, then analysed for a comprehensive suite of trace and rare earth elements, total carbon, and total graphitic carbon.
FIGURE AC-3: AR_001RCR CHIP TRAY 111-120m
Source: CCZ geology team
Post reconciling historic geochemical and geophysical data, the Board decided it was strategically more prudent to orchestrate a "proof of concept" reduced campaign comprising five RC drill-holes initially which included sites AR04, AR08, AR09, AR13 & AR21 (Table AC-1 and Figure AC-4). Vertical holes were planned however due to the drilling techniques and narrower diameter pipe employed, several completed drillholes exhibited significant downhole deviations to the south-east and south-west (Figure AC-5).
The exploration program objective was changed so that if the first-round observations and geological findings were encouraging, there is built-in flexibility to expand the campaign to fully drill-test the extent of any underlying system.
Drilling of AR_002RC progressed to a depth of 238m before the drill string disintegrated leaving most of the drill string stuck in the hole. The drillhole had deviated significantly, being almost horizontal at total depth. Drilling in AR_001RCR through to AR_004RC intersected, hard, dark, material identified as a carbonaceous schist (See Appendix B). The material contains no base metal mineralisation, but a low tenor of rare earth elements (to 400ppm TREO) and graphite (0.5 - 2%; refer to Appendix B) that was confirmed by laboratory testing.
TABLE AC-1: DRILLHOLE LOCATION
Drillhole Easting Northing AHD Total Azimuth Dip Type Comments
Depth
Quartzite to 42m,
dark carbonaceous
schist to 90m;
AR_001RC 351793 7865526 202.2 96 175 -85 RC Major fault @90m.
======== ========= ====== ======= ======== ==== ======= ===================
Quartzite then
dark carbonaceous
siltstones and
AR_001RCR 351825 7865551 203.4 142 172 -60 RC/PCD schists to TD
======== ========= ====== ======= ======== ==== ======= ===================
Quartzite then
dark carbonaceous
siltstones and
AR_002RC 352735 7865605 191.8 238 170 -17 RC schists to TD
======== ========= ====== ======= ======== ==== ======= ===================
Quartzite then
dark carbonaceous
siltstones and
AR_003RC 352971 7865433 192.5 143 203 -60 RC schists to TD
======== ========= ====== ======= ======== ==== ======= ===================
Quartzite then
dark carbonaceous
siltstones and
AR_004RC 353486 7865310 188 177 160 -67 RC schists to TD
======== ========= ====== ======= ======== ==== ======= ===================
Notes: Coordinate system is MGA94-Zone 54, collars are AHD.
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary
Mineral
tenement * Type, reference name/number, location and ownership * The following mineral tenures are held 100% by
and land including agreements or material issues with third subsidiaries of Castillo Copper Limited, totalling an
tenure status parties such as joint ventures, partnerships, area of approximately 961km(2) in the "NWQ project":
overriding royalties, native title interests,
historical sites, wilderness or national park and
environmental settings. * EPM 26574 (Valparaisa North) - encompasses the Big
One historical mineral resource, Holder Total
Minerals Pty Ltd, granted 12-June-2018 for a 5-year
* The security of the tenure held at the time of period over 100 sub-blocks (323.3Km2), Expires
reporting along with any known impediments to 11-June-2023.
obtaining a licence to operate in the area.
* EPM 26462 (Big Oxide North) - encompasses the
'Boomerang' historical mine and the 'Big One'
historical mine, Holder: QLD Commodities Pty Ltd,
granted: 29-Aug-2017 for a 5-year period over 67
sub-blocks (216.5Km(2) ), Expires: 28-Aug-2022.
* EPM 26525 (Hill of Grace) - encompasses the Arya
significant aeromagnetic anomaly, Holder: Total
Minerals Pty Ltd for a 5-year period over 38
sub-blocks (128.8Km2), Granted: 12-June 2018,
Expires: 11-June-2023.
* EPM 26513 (Torpedo Creek/Alpha Project) - Granted
13-Aug 2018 for a 5-year period over 23 sub-blocks
(74.2Km2), Expires 12-Aug-2023; and
* EPM 27440 (The Wall) - An application was lodged on
the 12-Dec2019 over 70 sub-blocks (215Km(2) ) by
Castillo Copper Limited. The tenure was granted on
the 7(th) of March 2021.
================================================================= =============================================================================
Exploration
done by other * Acknowledgment and appraisal of exploration by other * A selection of historical QDEX / mineral exploration
parties parties. reports has been reviewed for historical tenures that
cover or partially cover the Project Area in this
announcement. Federal and State Government reports
supplement the historical mineral exploration
reporting (QDEX open file exploration records).
* Most explorers were searching for Cu-Au-U and/or
Pb-Zn-Ag, and, proving satellite deposit style
extensions to the several small sub-economic copper
deposits (e.g., Big Oxide and Josephine).
* With the NWQ Project in regional proximity to Mt Isa
and numerous historical and active mines, the Project
area has seen the historical mineral tenures subject
to various styles of surface sampling, with selected
locations typically targeted at specific locations
within the NWQ Pillar by shallow drilling (Total hole
depth is typically less than 75m).
* The NWQ project tenure package has a significant
opportunity to be reviewed and explored by modern
exploration methods in a coherent package of EPM's,
with three of these forming a contiguous tenure
package.
Arya prospect - the five (5) historical exploration
reports generated by various explorers that contributed
information and data to this ASX Release are detailed
in the References section of the main body.
================================================================= =============================================================================
Geology
* Deposit type, geological setting, and style of * The NWQ project is located within the Mt Isa Inlier
mineralisation. of western Queensland, a large, exposed section of
Proterozoic (2.5 billion- to 540-million-year-old)
crustal rocks. The inlier records a long history of
tectonic evolution, now thought to be like that of
the Broken Hill Block in western New South Wales.
* The NWQ project lies within the Mt Oxide Domain,
straddling the Lawn Hill Platform and Leichhardt
River Fault Trough. The geology of the tenement is
principally comprised of rocks of the Surprise Creek
and Quilalar Formations which include feldspathic
quartzites, conglomerates, arkosic grits, shales,
siltstones and minor dolomites and limestones.
* The NWQ Pillar project area is cut by a major fault
zone, trending north-northeast to south-southwest
across the permits. This fault is associated with
major folding, forming several tight syncline and
anticline structures along its length.
* The desktop studies commissioned by CCZ on the
granted mineral tenures described four main styles of
mineralisation account for most mineral resources
within the rocks of the Mt Isa Province (after
Withnall & Cranfield, 2013).
* Sediment hosted silver-lead-zinc - occurs mainly
within fine grained sedimentary rocks of the Isa
Super basin within the
* Western Fold Belt. Deposits include Black Star (Mount
Isa PbZn), Century, George Fisher North, George
Fisher South (Hilton) and Lady Loretta deposits.
* Brecciated sediment hosted copper - occurs dominantly
within the Leichhardt, Calvert, and Isa Super basin
of the Western Fold Belt, hosted in brecciated
dolomitic, carbonaceous, and pyritic sediments or
brecciated rocks proximal to major fault/shear zones.
Includes the Mount Isa copper orebodies and the
Esperanza/Mammoth mineralisation.
* Iron-oxide-copper-gold ("IOCG") - predominantly
chalcopyrite, pyrite magnetite/hematite
mineralisation within high grade metamorphic rocks of
the Eastern Fold Belt. Deposits of this style include
Ernest Henry, Osborne, and Selwyn; and
* Broken Hill type silver-lead-zinc - occur within the
high-grade metamorphic rocks of the Eastern Fold
Belt. Cannington is the major example, but several
smaller currently sub-economic deposits are known.
* Gold is primarily found associated with copper within
the IOCG deposits of the Eastern Fold Belt. However,
a significant exception is noted at Tick Hill where
high grade gold mineralisation was produced, between
1991 and 1995 by Carpentaria Gold Pty Ltd, some 700
000 tonnes of ore was mined at an average grade of
22.5 g/t Au, producing 15 900 kg Au. The Tick Hill
deposit style is poorly understood (Withnall &
Cranfield, 2013).
* ROM Resources had noted in a series of recent reports
for CCZ on the granted tenures, that cover the known
mineralisation styles including:
o Stratabound copper mineralisation within ferruginous
sandstones and siltstones of the Surprise Creek Formation.
o Disseminated copper associated with trachyte dykes.
o Copper-rich iron stones (possible IOCG) in E-W
fault zones; and
o possible Mississippi Valley Type ("MVT") stockwork
sulphide mineralisation carrying anomalous copper-lead-zinc
and silver.
* The Mt Oxide and Mt Gordon occurrences are thought to
be breccia and replacement zones with interconnecting
faults. The Mt Gordon/Mammoth deposit is hosted by
brittle quartzites, and Esperanza by carbonaceous
shales. Mineralisation has been related to the Isan
Orogeny (1,590 - 1,500 Ma).
* Mineralisation at all deposits is primarily
chalcopyrite-pyrite-chalcocite, typically as massive
sulphide within breccias.
* At the Big One prospect, West Australian Metals NL
described the mineralisation as (as sourced from the
document "West Australian Metals NL, 1994. Drill
Programme at the "Big One" Copper Deposit, North
Queensland for West Australian Metals NL."):
* The targeted lode / mineralised dyke is observable on
the surface. The mineralisation targeted in the 1993
drilling programmed is a supergene copper
mineralisation that includes malachite, azurite,
cuprite, and tenorite, all associated with a NE
trending fault (062(o) to 242(o) ) that is intruded
by a porphyry dyke.
* The mineralised porphyry dyke is vertical to near
vertical (85(o) ), with the 'true width' dimensions
reaching up to 7m at surface. o At least 600m in
strike length, with strong Malachite staining
observed along the entire strike length, with
historical open pits having targeted approximately
200m of this strike. Exact depth of mining below the
original ground surface is not clear in the
historical documents, given the pits are not battered
it is anticipated that excavations have reached 5m to
10m beneath the original ground surface.
* Associated with the porphyry dyke are zones of
fractured and/or sheared rock, the siltstones are
described as brecciated, and sandstones around the
shear as carbonaceous.
* The known mineralisation from the exploration
activities to date had identified shallow supergene
mineralisation, with a few drillholes targeting
deeper mineralisation in and around the 200m of
strike historical open A strongly altered hanging
wall that contained malachite and cuprite nodules.
Chalcocite mineralization has been identified but it
is unclear on the prevalence of the Chalcocite; and
the mineralisation was amenable to high grade open
pit mining methods of the oxide mineralization (as
indicated by numerous historical open pit shallow
workings into the shear zone).
* Desktop studies commissioned by CCZ and completed by
ROM Resources and SRK Exploration have determined
that the Big One prospect is prospective for Cuco,
and Ag.
* Desktop studies commissioned by CCZ have determined
the Boomerang prospect contains:
* Secondary copper staining over 800m of strike
length.
* Associated with a major east-west trending fault that
juxtaposes the upper Surprise Creek Formation
sediments against both the underlying Bigie Formation
and the upper Quilalar Formation units.
* At the 'Flapjack' prospect there is the potential
for:
o Skarn mineralisation for Cu-Au and/or Zn-Pb-Cu
from replacement carbonate mineralisation, particularly
the Quilalar Formation.
o Thermal Gold Auroele mineralisation is a potential
model due to the high silica alteration in thermal
aureole with contact of A-Type Weberra Granite -
related to the Au mineralisation; and/or
o IOCG mineralisation related to chloride-rich fluids.
* At the 'Crescent' prospect there is the potential
for:
o Skarn mineralisation for Cu-Au and/or Zn-Pb-Cu
from replacement carbonate mineralisation, particularly
the Quilalar Formation; and/or
o Thermal Gold Auroele mineralisation is a potential
model due to the high silica alteration in thermal
aureole with contact of A-Type Weberra Granite -
related to the Au mineralisation; and
o IOCG mineralisation related to potassic rich fluids.
* At the 'Arya' prospect there is the potential for:
o Supergene mineralisation forming at the surface
along the fault, fault breccia, and the Surprise
Creek Formation 'PLrd' rock unit ('Prd' historical).
o Epigenetic replacement mineralisation for Cu (with
minor components of other base metals and gold) from
replacement carbonate mineralisation, particularly
the Surprise Creek Formation.
o Skarn mineralisation for Cu-Au and/or Zn-Pb-Cu
from replacement carbonate mineralisation, particularly
the Surprised Creek Formation; and/or
o IOCG mineralisation related to chloride rich fluids.
A selection of publicly available QDEX documents
/ historical exploration reports have been reviewed,
refer to Section 2, sub-section "Further Work" for
both actions in progress and proposed future actions.
================================================================= =============================================================================
Drill hole
Information * A summary of all information material to the * There is no historical drilling at Arya.
understanding of the exploration results including a
tabulation of the following information for all
Material drill holes: * For the 2021 program, all drillhole information was
coded to the same formatted spreadsheets used by CCZ,
using the LogCheck field software.
o easting and northing of the drill
hole collar
o elevation or RL (Reduced Level - * For CCZ's current drilling program, this information
elevation above sea level in metres) has been recorded in formatted spreadsheets during
of the drill hole collar the drilling and will be checked and verified at the
o dip and azimuth of the hole conclusion of the current program.
o down hole length and interception
depth
o hole length. * A summary of the holes drilled are given in Table
* If the exclusion of this information is justified on AC-1 in Section 1 of Appendix C, above.
the basis that the information is not Material and
this exclusion does not detract from the
understanding of the report, the Competent Person
should clearly explain why this is the case.
================================================================= =============================================================================
Data
aggregation * In reporting Exploration Results, weighting averaging * No data aggregation methods are utilised in the
methods techniques, maximum and/or minimum grade truncations current ASX Release, since the sampling types are
(e.g. cutting of high grades) and cut-off grades are surface rock chip samples.
usually Material and should be stated.
* Where aggregate intercepts incorporate short lengths
of high-grade results and longer lengths of low-grade
results, the procedure used for such aggregation
should be stated and some typical examples of such
aggregations should be shown in detail.
* The assumptions used for any reporting of metal
equivalent values should be clearly stated.
================================================================= =============================================================================
Relationship
between * These relationships are particularly important in the * The strike of the country rock is northeast to east,
mineralisation reporting of Exploration Results. with the deep Arya conductor is orientated east -
widths and west. The smaller, shallower conductors strike
intercept north-northeast to northeast. The main faulting
lengths * If the geometry of the mineralisation with respect to trends is northeast.
the drill hole angle is known, its nature should be
reported.
* When available, all mineralised intervals (i.e.,
>500ppm) will be reported in future ASX releases as
* If it is not known and only the down hole lengths are the "as-intersected" apparent thickness (in metres)
reported, there should be a clear statement to this and given that all drillholes dip at -90 degrees from
effect (eg 'down hole length, true width not known'). the horizontal, true intersection widths will be
calculated during the block modelling process.
================================================================= =============================================================================
Diagrams
* Appropriate maps and sections (with scales) and * This part will be done once CCZ's current drilling
tabulations of intercepts should be included for any program is completed, and all samples have been
significant discovery being reported These should assayed and verified.
include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional
views. * Appropriate diagrams are presented in the body and
the Appendices of the current ASX Release. Where
scales are absent from the diagram, grids have been
included and clearly labelled to act as a scale for
distance.
* Maps and Plans presented in the current ASX Release
are in MGA94 Zone 54, Eastings (mN), and Northing
(mN), unless clearly labelled otherwise.
================================================================= =============================================================================
Balanced
reporting * Where comprehensive reporting of all Exploration * Comprehensive reporting was completed (Biggs 2022)
Results is not practicable, representative reporting once CCZ's drilling program had all sample queries
of both low and high grades and/or widths should be returned and have been verified.
practiced to avoid misleading reporting of
Exploration Results.
o Appropriate diagrams are presented in the body
and the Appendices of the current ASX Release (see
Figure AC-5 and AC-6). Where scales are absent from
the diagram, grids have been included and clearly
labelled to act as a scale for distance.
* A complete comparison of visual mineralisation
estimated by the site geologist will be published
once all assays are returned. All intersected
intervals are apparent thicknesses in metres.
================================================================= =============================================================================
Other GEOTEM & PROTEM:
substantive * Other exploration data, if meaningful and material, * The airborne electromagnetic GEOTEM geophysical
exploration should be reported including (but not limited to): survey undertaken by BHP Minerals in 1997 on
data geological observations; geophysical survey results; historical tenure EPM11383 & EPM1152. A total of
geochemical survey results; bulk samples - size and 726-line kilometres were flown on a SE-NW, flown by
method of treatment; metallurgical test results; bulk 'Geoterrex-Dighem Pty Limited' at a mean height of
density, groundwater, geotechnical and rock approximately 105m above the ground surface (line
characteristics; potential deleterious or spacing 500m apart). Previous interpretations the
contaminating substances. penetration of the GEOTEM method to have an estimated
range of between 200-300m below the ground surface,
this is dependent on conductivity contrasts, size,
and attitude of the subsurface targets. Eleven (11)
anomalies were identified, with four (4) recommended
for follow up, with three (3) of the four (4)
anomalies followed up by ground geophysical at what
CCZ calls the 'Arya' prospect. The BHP Minerals 1997
GEOTEM survey information was extracted from QDEX
Data to accompany the QDEX report information.
* The 'Arya' prospect anomalies are EG01, EG02, EG10,
with the geophysical observations of the body and
Appendices of the current ASX Release, including the
PROTEM observations. The PROTEM observations are
anticipated to have a deeper penetration than the
GEOTEM observations, based on the PROTEM loop, survey
traverse, and/or depth sounding method applied.
QUESTEM & GENIE-EM:
* The airborne electromagnetic GEOTEM geophysical
survey undertaken by Mount Isa Mines in 1991 on
historical tenure EPM7448, EPM7338, and EPM7863. A
total of approximately 600km-line kilometres (exact
line length would need to be extracted from digitised
images) would were flown on a SE-NW, flown by
'Aerodata Holdings Limited' at a mean height of
approximately 120m above the ground surface (line
spacing 400m apart). In a previous ASX release (July
2020) Xplore Resources Pty Ltd interprets the
penetration of the QUESTEM method to have an
estimated range of between 200-300m below the ground
surface, this is dependent on conductivity contrasts,
size, and attitude of the subsurface targets.
Twentynine (29) anomalies were identified across the
three (3) historical tenure, with six (6) recommended
for follow up ground geophysical survey for
historical tenure EPM7448, and one of these L4 near
the Arya prospect.
* Arya prospect anomaly L4 followed up by a ground
electromagnetic traverse by Mount Isa Mines GENIE-EM
is to the west of the EG02 BHP minerals anomaly.
* Queensland Government Data: 'PLrd' rock unit lower
boundary from the Surprise Creek Formation sourced
from QSpatial and aligns with GeoResGlobe - this is
equivalent to the historical tenure reports 'Prd'
rock unit lower boundary from the Surprise Creek
Formation.
GEODISCOVERY REVIEW
The study of Nelson (2021) concluded that:
* Whilst hard copies of the 1997 BHP ground EM data are
available, no digital data is on open file. Hard copy
profiles have been visually interpreted, however due
to lack of digital data it cannot be remodelled. The
historic BHP model results and survey locations have
not been provided and there is uncertainty in the
location of Anomaly E02.
* Magnetic modelling, CDI and LEI of the TEMPEST survey
line indicate the BHP depth estimate of conductive
from the EG01 sounding is likely over estimated.
Depth to main conductive sources appears to be
between around 200m beneath surface (Nelson (2021).
* EG02 appears to be associated with a fault and EG10
appears to be more surficial.
* It is recommended that the LEI of the TEMPEST survey
(most recent AEM data acquired in the region), along
with magnetic model output be used to plan the next
drill campaign. The current drill plan could be
improved to better test the modelled conductive
sources and structural features.
* If the drill testing of the conductive sources
indicates the presence of prospective lithologies
and/or mineralisation, then consideration should be
given to acquiring detailed ground EM and magnetic
coverage to further assist targeting.
================================================================= =============================================================================
Further
work * The nature and scale of planned further work (eg * Further work will consist of a combination of:
tests for lateral extensions or depth extensions or
large-scale step-out drilling).
o Fourteen (14) hole RC drilling Program
o Soil and or Rock chip sampling
* Diagrams clearly highlighting the areas of possible o Ground IP or EM Survey
extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
================================================================= =============================================================================
FIGURE AC-4: ARYA DRILLHOLE LOCATION vs EM ANOMALY
Notes:
1. Coordinate system is MGA94-Zone 54, collars are AHD.
2. Shows EM anomalies, MIM EM airborne survey, Location of AusAEM survey line 2024_003, and the "as drilled" 2021 collars.
FIGURE AC-5: ARYA DRILLHOLE LOCATION AND GRAPHITE INTERSECTIONS
Notes:
1. View at Ayra looking north-east, showing topography (2m contours) and drilling. 2. Coloured bars represent Cg >0.5%, with purple higher grade (>1% TGC).
3. Light green polygons (see Figure AC-4) present surface copper anomalies (>250ppm Cu) untested by drilling.
4. Source: CCZ Geology Team.
References
Anaconda Australia Inc., 1971. Authority to Prospect 791M "Myally", Queensland. Final Report. QDEX Report number: 3544.
Biggs M.S., 2021, EPM 26525 Hill of Grace - 2021 Arya Drilling and Exploration Program, End of Hitch Report - Drilling, Assay, and Metallurgical Testing Completed, July 2022, unpublished report by ROM Resources for Castillo Copper Limited.
BHP Minerals Pty Ltd, 1997. EPM 11383 (Alsace Camp), 11452 (Epsilon), Combined Annual Report for the Period Ending 19/12/97. QDEX Report number: 29762.
BHP Minerals Pty Ltd, 1998. EPM 11383 (Alsace Camp), 11452 (Epsilon), Combined Annual/Final Report for the Period Ending 19/12/98. QDEX Report number: 30750
CCZ ASX Release - 28 April 2020.
CRA Exploration Pty Limited, 1995. Exploration Report for Minerals No. 9575 "Epsilon", Queensland. Annual Report for the period ended August 3, 1995. QDEX Report number: 27102.
CRA Exploration Pty Limited, 1996. Exploration Report for Minerals No. 9575 "Epsilon", Queensland. Third Annual and Final Report for the Period Ending 2 July 1996. QDEX Report number: 28337
GeoResGlobe, 2021, Detailed Geology 1:100,000 layers. https://georesglobe.information.qld.gov.au/ Accessed 2021-Jun-21.
M.I.M Exploration Pty Ltd, 1992a, Exploration Permit for Minerals No. 7863 "Eldorado" Queensland. Annual Report for the 12 months ended April 17, 1992. QDEX Report number: 23661.
M.I.M Exploration Pty Ltd, 1992b "Myally Creek" EPM 7338 and "Lagoon Creek" EPM 7448 Joint Twelve Month Report for Period 18 May 1990 to 18 May 1991 Queensland, Australia. QDEX Report number: 23516.
Mt Isa Metals Ltd, 2010. EPM 15767, Myally Tenement, Annual Report for the Period 5/06/2009 to 4/6/2010. QDEX Report number: 64491.
M.I.M Exploration Pty Ltd, 1993. Exploration Permit for Minerals Nos. 7448 "Lagoon Creek". Second Annual Report 18 May 1991 to 17 May 1992, Queensland Australia. QDEX Report number: 24523.
Nelson K., 2021, Review of open file EM and magnetic geophysical data at Arya Prospect, GeoDiscovery Group, unpublished confidential report to Castillo Copper Limited, June 2021, 16pp
Pacminex Pty Limited, 1975, Authority to Prospect No. 1494M "Alsace Area", Queensland. Annual Report. QDEX Report number: 5602.
Queensland Government, 2021. Queensland Geology Detailed Web Map Service: http://qldspatial.information.qld.gov.au/catalogue/custom/search.page?q=solid+geology#
Schulz, M., Liu, J., and de Nooy, D., 2022, MIN5684 (A23397), Castillo Copper Ltd, Graphite Optical Analysis, ALS Metallurgical Services, May 2022, 18pp
Valenta, R., 2018. NW Queensland Mineral Province Deposit Atlas Prototype Report - the Mount Isa and Ernest Henry Deposits. DNRME-GSQ Commissioned study and report.
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