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Castillo Copper Ltd.
Summary
| Project: | Jackaderry | |
|---|---|---|
| Deposit: | Cangai | |
| Location: | Australia | |
| Commodities: | Copper-Cobalt-Zinc-Gold-Silver | |
| Date: | 9/6/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-9-2017: Castillo Copper Ltd. announces a Resource Estimation report for its Cangai deposit at the Jackaderry project. Initial mineral esource for the Cangai Copper mine prospect. Castillo Copper’s Executive Director Alan Armstrong commented: “This is an | |
| Resources: | (Resource, Inf.): 3.211Mt @ 3.35% Cu, 0.005% Co, 0.8g/t Au at Cangai Copper mine | |
| CP/QP: | [Resources]: Neil Hutchison (Internal) | |
| ABSTRACT: | Castillo Copper’s Executive Director Alan Armstrong commented: “This is an outstanding start and arguably delivers CCZ one of the highest-grade copper resources in Australia. Moving forward, the Board plans to further prove up this initial resource by expanding across the Jackaderry Project, which includes an inaugural drilling program. Within the Cangai Copper Mine, 3D JORC modelling showed there are unmined high-grade supergene ore working sections, which are potentially direct shipping ore material that could be extended further. More significantly, given the resource is relatively shallow and located on the top of a hill, an open pit deposit could potentially be developed. The project has excellent infrastructure with sealed roads that link directly to Newcastle Port.” As this only accounts for a small part of CCZ’s Jackaderry Project, the Board is optimistic incremental desktop work and a maiden drilling program will underpin further exploration and mineral resource size upside moving forward. CCZ has organised its prospects into four groups (Jackaderry, Broken Hill, Mt Oxide and Marlborough) and has a clear strategy to model four JORC compliant resources across its mineralised footprint in a timely manner. An initial desktop review on the Jackaderry Project by consultant geologist, ROM Resources Pty Ltd (ROM Resources), confirmed it contained the historic Cangai Mine within its defined area. Further research highlighted there was adequate legacy data to 3D model the mine and generate a JORC compliant Inferred Resource as a starting point for the broader Jackaderry Project. The Cangai Mine was discovered in 1901 and was in production between 1904-17, but only ore greater than 13% copper was extracted using manual techniques. A copper smelter was built on site with other supporting infrastructure and industries established, including a tramway and sawmill (refer Figure 1A1 and 1B1 ). During its lifecycle, the Cangai Mine produced 5,080 tonnes of copper, 1,035kg of silver and 53kg of gold. | |
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