REG - Castillo Copper Ltd - Copper and new gold mineralisation at Big One

Castillo CopperAnnouncement

14/09/2020 07:05

RNS Number : 8225Y
  
Castillo Copper Limited
  
14 September 2020
  
 

14 September 2020
CASTILLO COPPER LIMITED

("Castillo" or the "Company")
Castillo verifies high-grade copper and identifies new gold mineralisation at Big One Deposit
Field work demonstrates potential for widespread high-grade copper mineralisation and coincident gold mineralisation ahead of drilling campaign
Castillo Copper Limited (LSE: CCZ; ASX: CCZ), a base metal explorer primarily focused on copper across Australia and Zambia, is pleased to announce that it has verified high-grade copper and identified new gold mineralisation ahead of drilling at the Big One Deposit, within the Company's 100% owned Mt Oxide Project. 
 
Highlights 
·    Castillo's geology team has continued detailed field analysis at the Big One Deposit with 24 rock-chip samples collected from historic workings at the Big One Deposit, being reconciled against desktop reports which determined the following:
o  Interpreted most of the rock-chip samples to be from highly mineralised ore, comprising high-grade copper oxide and supergene mineralisation
o  Specifically, observed copper mineralisation occurs as massive veinlets / crackfill veins, while at surface as malachite, azurite, cuprite and chalcocite
o  Believe the previous operator excavated high-grade mineralised ore but never dispatched it for processing, possibly due to financial constraints at the time
·    Field results were obtained using an XRF spectrometer on the rock chip samples: 
o  Verified the presence of high-grade copper mineralisation, consistent with noted observations, subject to full laboratory analysis
o  Detected a wide range of gold values which are potentially associated with copper mineralisation, subject to assay confirmation  
·    Full insights from the 24 rock-chip samples, which have been dispatched to the laboratory for a complete analysis, will be released once results are to hand  
 
Next steps include 
·    Commencement of drilling at the Mt Oxide Project
·    In fill soil sampling for Mkushi Project in Zambia
·    Review of Big One copper-gold rock chip assay results
·    Review of Eldorado prospect within the Mt Oxide Project
 
Simon Paull, Managing Director of Castillo Copper, commented: "These insights from the field analysis are very encouraging, especially verification that there is potentially widespread high-grade copper mineralisation across the strike event at the Big One Deposit. In addition, the growing possibility of coincident gold mineralisation adds further exploration upside and supports our belief that the deposit can generate significant value for stakeholders."
 
Ged Hall, UK Director of Castillo Copper, said: "The dedicated work and resultant interpretations by our geology team continues to build a strong case for the Big One Deposit, especially the potential for it to be part of an enlarged mineralised system. Having now secured Depco Drilling's service in this precious-base metal upcycle, we are excited for drilling to commence shortly at both the Big One Deposit and Arya Prospect."  
 
 
Further information on field activities at Big One Deposit 
 
High-grade copper mineralisation verified 
 
Castillo's geology team performed detailed field analysis on the 24 rock-chip samples prior to them being dispatched to the laboratory for complete assays. Notably, this analysis was done in conjunction with a refresher on historic desktop work to facilitate a full understanding of what exploration activities the previous operator undertook at the Big One Deposit circa 25-30 years ago. 
 
In the geology team's view, the previous operator excavated high-grade mineralised ore and stored it on-site for onward processing. However, possibly due to lack of funding or the prevailing downturn in copper prices at the time, the mineralised ore was never sent for processing. 
 
Consequently, most of the rock-chip samples collected from historic workings are mineralised ore that comprises high-grade copper oxide and supergene mineralisation. Specifically, the observed copper mineralisation occurs as massive veinlets / crackfill veins and phenocryst replacement in argillically altered trachyte dyke rock. Further, at surface this occurs as malachite, azurite, cuprite and chalcocite (with presumably chalcopyrite the primary ore).
 
Field analysis
 
Detailed field analysis - subject to laboratory assays - was carried out to test the 24 rock-chip samples to evaluate for copper, gold, cobalt and silver. Multiple tests, using an Olympus Vanta (3-channel beam) XRF spectrometer, were taken to evaluate the results variability (refer to Appendix A-C). 
 
Initial analysis indicated a wide range of high-grade copper values that are consistent with field observations. However, detected gold values across a wide range, if verified by laboratory analysis, potentially indicates significant gold coincident within the high-grade copper mineralisation which could materially enhance the exploration upside of the project area. 
 
Historic workings - sample collection
 
The Big One Deposit comprises four main excavated workings and a shaft. These are situated along a major fault/shear structure and trachyte dyke trending east-north-east, with all being sub-vertical to steeply dipping to the south-east. 
 
Surface workings occur in three elongated shallow pits (P1, P2 and P3) at the north-east end of Big One Deposit. In addition, further workings are apparent near a small pit and shaft at the south-west end of the prospect covering a strike length of just over 500 metres. The workings follow the mineralisation focussed within the shear corridor, with the felsic trachyte dyke at the centre. Note, the 24 rock chip samples (11501-11524) were collected primarily from these areas (refer to Appendix A-C). 
 
In addition to this release, a PDF version of this report, with supplementary information can be found on the Company's website: https://www.castillocopper.com/asx-announcements/
 
Overview of Mt Oxide Project 
 
Castillo is targeting the development of a viable copper mining operation at the Mt Oxide Project, which is located in the copper-belt district approximately 150km north of Mt Isa in north-west Queensland. The project is within the proximity of several historic and currently operating copper mines including Lady Annie and Capricorn Copper.
 
On 22 March 2017, the Company announced that it had entered into an agreement with certain sellers to acquire the entire issued capital of QComm, an Australian copper and cobalt company which owns three assets targeting high grade copper and cobalt systems in New South Wales and Queensland (including the Mt Oxide Project). On 4 July 2017, the Company completed the QComm Acquisition on 4 July 2017 and in August 2017, the Company received notice from Queensland's Department of Natural Resources and Mines that the final exploration application had been granted. 
 
Currently, the main highlight within the Mt Oxide Project is the exploration targets known as the Big One Deposit, which comprises shallow high-grade supergene ore up to 28.4% Cu, and the Ayra Prospect, which was identified through an airborne electromagnetic survey conducted by Geoscience Australia in March 2019. The Company's main objective is to progress with several site visits to conduct geochemical sampling and geophysical surveys on known exploration targets to facilitate an inaugural test drilling campaign for developing a clear exploration strategy.
 




TABLE 1: MINERALISATION SUMMARY FOR THE MT OXIDE PROJECT PROSPECTS




Arya


Sizeable massive sulphide anomaly with IOCG potential




The Wall 


Mt Isa style mineralisation 




Pancake


Mt Isa style mineralisation with IOCG potential 




Johnnies


Shear-hosted copper and supergene ore potential




Crescent


IOCG target with Mt Isa style mineralisation potential  




Flapjack


IOCG target with Mt Isa style mineralisation potential




Big One Deposit


Shallow high-grade supergene ore up to 28.4% Cu from drilling intercepts




Boomerang Mine


Historically produced circa 4,211t high-grade oxide ore grading circa 6% Cu, with an output of circa 251t Cu




Valparaisa Prospect


Structurally controlled copper




 
 
For further information, please contact:




Castillo Copper Limited


+61 8 6558 0886




Simon Paull (Australia), Managing Director
Gerrard Hall (UK), Director


 




 


 




SI Capital Limited (Financial Adviser and Corporate Broker)


+44 (0)1483 413500




Nick Emerson


 




 


 




Luther Pendragon (Financial PR) 


+44 (0)20 7618 9100 




Harry Chathli, Alexis Gore, Joe Quinlan


 




 
Notes to Editors: 
About Castillo Copper 
Castillo Copper Limited is an Australian-based explorer primarily focused on copper across Australia and Zambia. Castillo Copper is listed on the LSE and ASX under the ticker "CCZ". 
The three main projects across Australia and Zambia include:
 
Australia
Mt Oxide Project
Castillo is targeting the development of a viable copper mining operation at the Mt Oxide Project, which has significant exploration upside with several high-grade targets including an interpreted 130m thick by 1,500m by 450m massive sulphide bedrock conductor that is about to be drilled. The project is located approximately 150km north of Mt Isa in northwest Queensland. The project is within the proximity of several historic and currently operating copper mines including Lady Annie and Capricorn Copper. 
Cangai Project
The Company's flagship project is the Cangai Project in northern New South Wales, where the Cangai Copper Mine is located, one of Australia's highest grading historic copper mines. The Company's core focus is the development and expansion of the Cangai Copper Mine, which comprises a volcanogenic massive sulphide deposit, with a JORC Code compliant Inferred Resource of 3.2Mt at 3.35 per cent. Cu. and up to 14.45 per cent. Cu in assayed diamond core intersections.
Zambia
Zed Projects
The Company is the sole shareholder of Zed, an Australian company which holds four high-quality prospective assets across Zambia's copper-belt, the second largest copper producer in Africa. Castillo Copper intends to initially focus on the Luanshya Project, which sits on the Zambian copper belt's Lufilian Arc geological structure. The second priority for the Company is the Mkushi Project, which contiguously surrounds an operating open-pit copper mine, in a region proven to be highly prospective for Cu-Au mineralisation. The Company is currently working towards establishing a Zambian in-country presence, utilising local geologists and joint venture partner teams.
Visit Castillo Copper's website: https://www.castillocopper.com/
 
Competent Person Statement 
 
The information in this report that relates to Exploration Results for the Mt Oxide pillar for the 'Big One' deposit prospect' contained in this announcement is based on a fair and accurate representation of the publicly available information at the time of compiling the ASX Release, and is based on information and supporting documentation compiled by Matthew Stephens, a Competent Person who is Fellow of the Australian Institute of Geoscientists. Mr Stephens is Consultant Resource Geologist employed by Xplore Resources Pty Ltd. Mr Stephens has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Stephens consents to the inclusion in the report of the matters based on his information and the form and context in which it appears.
 
 
APPENDIX A: ROCK CHIP SAMPLES AND HEADLINE XRF RESULTS  
Note: Two XRF readings are taken per sample indicated by black circle. Note, these are indicative only and subject to verification by laboratory analysis and full assay report. 
 
TABLE 1-11501_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11501_1_T1


8.1473


81473


427


ND


ND




11501_1_T2


6.6394


66394


322


ND


ND




11501_1_T3


11.0676


110676


359


ND


ND




11501_1_A3


8.6181


86181


369


ND


ND




 
TABLE 1 - 11501_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11501_2_T1


7.0799


70799


44


ND


ND




11501_2_T2


6.5499


65499


37


ND


ND




11501_2_T3


6.7314


67314


39


9


7




11501_2_A3


6.787


67870


40


3


2




 
TABLE 2 - 11502_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11502_1_T1


4.9705


49705


1365


5


ND




11502_1_T2


5.245


52450


1170


5


ND




11502_1_T3


4.9657


49657


1409


6


ND




11502_1_A3


5.0604


50604


1315


6


ND




 
TABLE 3 - 11502_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11502_2_T1


1.2853


12853


ND


ND


ND




11502_2_T2


1.2567


12567


ND


5


ND




11502_2_T3


1.1421


11421


ND


ND


ND




11502_2_A3


1.228


12280


ND


2


ND




 
TABLE 4 - 11503_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11503_1_T1


24.8849


248849


1072


32


ND




11503_1_T2


21.9027


219027


1015


14


ND




11503_1_T3


24.641


246410


1111


24


ND




11503_1_A3


23.8095


238095


1066


23


ND




 
TABLE 5 - 11503_1A RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11503_1_T4


3.3106


33106


ND


ND


ND




11503_1_T5


1.8322


18322


ND


ND


ND




11503_1_T6


1.298


12980


ND


ND


ND




11503_1_A3


2.1469


21469


ND


ND


ND




 
TABLE 6 - 11507_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11503_2_T1


1.1554


11554


ND


ND


ND




11503_2_T2


15.707


157070


ND


ND


ND




11503_2_T3


2.0835


20835


ND


ND


ND




11503_2_A3


6.3153


63153


ND


ND


ND




 
TABLE 7 - 11504_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11504_1_T1


5.0313


50313


223


ND


ND




11504_1_T2


6.4534


64534


ND


8


ND




11504_1_T3


6.0309


60309


142


ND


ND




11504_1_A3


5.8385


58385


122


3


ND




 
TABLE 8 - 11504_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11504_2_T1


15.5507


155507


976


12


ND




11504_2_T2


19.2715


192715


1228


26


ND




11504_2_T3


17.1582


171582


935


18


ND




11504_2_A3


17.3268


173268


1046


19


ND




 
TABLE 9 - 11505_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11505_1_T1


5.9489


59489


167


10


ND




11505_1_T2


6.2135


62135


97


ND


9




11505_1_T3


4.8392


48392


102


8


13




11505_1_A3


5.6672


56672


122


6


7




 
TABLE 10 - 11505_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11505_2_T1


20.9824


209824


85


56


13




11505_2_T2


19.9311


199311


70


44


11




11505_2_T3


19.0421


190421


96


50


ND




11505_2_A3


19.9852


199852


84


50


8




 
TABLE 11 - 11506_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11506_1_T1


2.0819


20819


ND


7


ND




11506_1_T2


2.2717


22717


ND


ND


ND




11506_1_T3


2.2788


22788


ND


ND


ND




11506_1_A3


2.2108


22108


ND


2


ND




 
TABLE 12 - 11506_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11506_2_T1


4.1373


41373


ND


ND


7




11506_2_T2


3.8374


38374


ND


ND


7




11506_2_T3


3.8423


38423


ND


ND


ND




11506_2_A3


3.939


39390


ND


ND


5




 
TABLE 13 -  11507_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11507_1_T1


1.4481


14481


ND


ND


ND




11507_1_T2


1.3371


13371


ND


ND


ND




11507_1_T3


1.2862


12862


ND


ND


ND




11507_1_A3


1.3571


13571


ND


ND


ND




 
TABLE 14 - 11507_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11507_2_T1


0.6544


6544


ND


ND


ND




11507_2_T2


0.7091


7091


ND


ND


ND




11507_2_T3


0.6742


6742


77


7


ND




11507_2_A3


0.6793


6793


26


2


ND




 
TABLE 15 - 11508_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11508_1_T1


29.3951


293951


637


ND


ND




11508_1_T2


24.9376


249376


315


ND


ND




11508_1_T3


24.6732


246732


ND


ND


ND




11508_1_A3


26.3353


263353


317


ND


ND




 
TABLE 16 - 11508_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11508_2_T1


28.278


282780


517


ND


ND




11508_2_T2


22.5371


225371


775


ND


ND




11508_2_T3


33.8026


338026


462


ND


ND




11508_2_A3


28.2059


282059


585


ND


ND




 
TABLE 17 - 11509_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11509_1_T1


1.4001


14001


ND


ND


ND




11509_1_T2


1.4092


14092


ND


ND


ND




11509_1_T3


1.1153


11153


ND


ND


ND




11509_1_A3


1.3082


13082


ND


ND


ND




 
TABLE 18 - 11509_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11509_2_T1


4.2671


42671


ND


ND


ND




11509_2_T2


3.4278


34278


ND


ND


ND




11509_2_T3


4.1884


41884


50


7


ND




11509_2_A3


3.9611


39611


17


2


ND




 
TABLE 19 - 11510_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11510_1_T1


4.6374


46374


181


ND


ND




11510_1_T2


4.6999


46999


103


ND


ND




11510_1_T3


8.7113


87113


ND


9


ND




11510_1_A3


6.0162


60162


95


3


ND




 
TABLE 20 - 11510_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11510_2_T1


5.0046


50046


ND


6


ND




11510_2_T2


4.9369


49369


ND


ND


ND




11510_2_T3


5.0215


50215


ND


ND


ND




11510_2_A3


4.9876


49876


ND


2


ND




 
TABLE 21 - 11511_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11511_1_T1


17.6152


176152


90


25


12




11511_1_T2


15.2253


152253


93


19


16




11511_1_T3


21.9956


219956


103


44


16




11511_1_A3


18.2787


182787


95


29


15




 
TABLE 22 - 11511_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11511_2_T1


10.573


105730


86


13


ND




11511_2_T2


10.6275


106275


75


14


ND




11511_2_T3


10.3522


103522


47


16


10




11511_2_A3


10.5176


105176


69


14


3




 
TABLE 23 - 11512_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11512_1_T1


21.6599


216599


90


21


ND




11512_1_T2


18.4135


184135


71


17


ND




11512_1_T3


20.1182


201182


67


21


ND




11512_1_A3


20.0638


200638


76


20


ND




 
TABLE 24 - 11512_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11512_2_T1


16.6702


166702


2338


ND


ND




11512_2_T2


18.642


186420


2433


ND


ND




11512_2_T3


19.0067


190067


2426


ND


ND




11512_2_A3


18.1063


181063


2399


ND


ND




 
TABLE 25 - 11513_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11513_1_T1


3.4447


34447


ND


ND


ND




11513_1_T2


2.0855


20855


ND


ND


ND




11513_1_T3


2.1917


21917


ND


ND


ND




11513_1_A3


2.5739


25739


ND


ND


ND




 
TABLE 26 - 11513_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11513_2_T1


49.7477


497477


308


28


ND




11513_2_T2


48.4395


484395


217


40


22




11513_2_T3


49.7537


497537


242


51


ND




11513_2_A3


49.3136


493136


256


39


7




 
TABLE 27 - 11514_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11514_1_T1


8.7628


87628


897


ND


ND




11514_1_T2


9.666


96660


990


ND


ND




11514_1_T3


10.8867


108867


980


ND


ND




11514_1_A3


9.7718


97718


956


ND


ND




 
TABLE 28 - 11514_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11514_2_T1


18.682


186820


ND


ND


ND




11514_2_T2


14.5244


145244


ND


ND


ND




11514_2_T3


14.6823


146823


ND


ND


ND




11514_2_A3


15.9629


159629


ND


ND


ND




 
TABLE 29 - 11515_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11515_1_T1


16.8707


168707


ND


ND


ND




11515_1_T2


14.9152


149152


ND


ND


ND




11515_1_T3


13.9507


139507


ND


16


ND




11515_1_A3


15.2455


152455


ND


5


ND




 
TABLE 30 - 11515_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11515_2_T1


14.2502


142502


118


ND


ND




11515_2_T2


14.7204


147204


112


14


ND




11515_2_T3


16.2882


162882


102


19


ND




11515_2_A3


15.0863


150863


111


11


ND




 
TABLE 31 - 11516_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11516_1_T1


9.4126


94126


80


11


ND




11516_1_T2


9.1144


91144


56


13


ND




11516_1_T3


8.5445


85445


102


13


ND




11516_1_A3


9.0239


90239


79


13


ND




  
TABLE 32 - 11516_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11516_2_T1


7.0274


70274


ND


ND


ND




11516_2_T2


9.322


93220


ND


ND


ND




11516_2_T3


9.282


92820


ND


ND


11




11516_2_A3


8.5438


85438


ND


ND


4




 
TABLE 33 - 11517_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11517_1_T1


2.2596


22596


ND


ND


ND




11517_1_T2


1.9251


19251


ND


ND


ND




11517_1_T3


1.8343


18343


ND


ND


ND




11517_1_A3


2.0063


20063


ND


ND


ND




 
TABLE 34 - 11517_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11517_2_T1


24.9336


249336


ND


ND


ND




11517_2_T2


24.5863


245863


ND


ND


ND




11517_2_T3


25.6397


256397


ND


ND


ND




11517_2_A3


25.0532


250532


ND


ND


ND




 
TABLE 35 - 11518_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11518_1_T1


48.4372


484372


319


84


ND




11518_1_T2


46.6672


466672


429


86


ND




11518_1_T3


47.0523


470523


434


75


ND




11518_1_A3


47.3856


473856


394


82


ND




 
TABLE 36 - 11518_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11518_2_T1


4.3196


43196


79


12


ND




11518_2_T2


4.1615


41615


85


14


ND




11518_2_T3


4.342


43420


81


ND


ND




11518_2_A3


4.2744


42744


82


9


ND




 
TABLE 37 - 11519_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11519_1_T1


1.1761


11761


ND


ND


ND




11519_1_T2


2.3105


23105


ND


ND


ND




11519_1_T3


0.7957


7957


ND


ND


ND




11519_1_A3


1.4274


14274


ND


ND


ND




 
TABLE 38 - 11519_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11519_2_T1


2.6115


26115


ND


ND


ND




11519_2_T2


4.0214


40214


ND


ND


ND




11519_2_T3


4.8789


48789


ND


ND


ND




11519_2_A3


3.8373


38373


ND


ND


ND




 
TABLE 39 - 11520_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11520_1_T1


1.4072


14072


ND


ND


ND




11520_1_T2


1.4064


14064


ND


ND


ND




11520_1_T3


1.4345


14345


ND


ND


ND




11520_1_A3


1.4161


14161


ND


ND


ND




 
TABLE 40 - 11520_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11520_2_T1


43.2313


432313


98


93


ND




11520_2_T2


43.5645


435645


56


97


ND




11520_2_T3


45.0102


450102


79


89


ND




11520_2_A3


43.9353


439353


78


93


ND




 
TABLE 41 - 11521_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11521_1_T1


0.2881


2881


ND


ND


ND




11521_1_T2


0.2862


2862


ND


5


ND




11521_1_T3


0.2898


2898


ND


ND


ND




11521_1_A3


0.288


2880


ND


2


ND




 
TABLE 42 - 11521_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11521_2_T1


0.4184


4184


ND


ND


ND




11521_2_T2


0.3984


3984


ND


ND


ND




11521_2_T3


0.3311


3311


ND


ND


ND




11521_2_A3


0.3826


3826


ND


ND


ND




 
TABLE 43 - 11522_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11522_1_T1


2.9319


29319


243


ND


ND




11522_1_T2


2.0245


20245


240


ND


ND




11522_1_T3


1.7047


17047


280


ND


ND




11522_1_A3


2.2204


22204


254


ND


ND




 
TABLE 44 - 11522_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11522_2_T1


2.6908


26908


ND


5


ND




11522_2_T2


2.4351


24351


ND


ND


ND




11522_2_T3


2.6032


26032


ND


ND


ND




11522_2_A3


2.5764


25764


ND


2


ND




 
TABLE 45 - 11523_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11523_1_T1


3.4722


34722


60


ND


ND




11523_1_T2


3.7873


37873


38


5


ND




11523_1_T3


3.4862


34862


74


ND


ND




11523_1_A3


3.5819


35819


57


2


ND




 
TABLE 46 - 11523_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11523_2_T1


6.7168


67168


75


11


ND




11523_2_T2


6.878


68780


66


9


ND




11523_2_T3


6.1448


61448


123


13


ND




11523_2_A3


6.5798


65798


88


11


ND




 
TABLE 47 - 11524_1 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11524_1_T1


0.9557


9557


90


ND


ND




11524_1_T2


1.081


10810


121


ND


ND




11524_1_T3


0.9081


9081


119


ND


ND




11524_1_A3


0.9816


9816


110


ND


ND




 
TABLE 48 - 11524_2 RESULTS




SAMPLE ID


CU %


CU PPM


CO PPM


AU PPM


AG PPM




11524_2_T1


14.7039


147039


686


16


ND




11524_2_T2


15.8888


158888


647


19


ND




11524_2_T3


17.3812


173812


659


27


ND




11524_2_A3


15.9913


159913


664


21


ND




 
                   


APPENDIX B: XRF AVERAGED RESULTS FOR TWO ANALYTICAL TESTS PER SAMPLE (11501-11524) 




Sample_ID


Easting_ GDA94z54


Northing_ GDA94z54


Wallrock_ dyke_ vein


Description


Source


Test_Average


Cu%


Cu_ppm


Co_ppm


Au_ppm


Ag_ppm




11501


335091


7880143


Wallrock


Reddish pink weakly ferruginous metasediment, possibly dololutite/very fine grained sst; fine fracture filled veins with green malachite and brown goethite, hematite, possibly cuprite; veins 1-2mm wide; crackle brecciate with fractures mineralised.


Stockpile


Sample 1 Average


8.62


86181


369


ND


ND




 


 


 


 


 


 


Sample 2 Average


6.79


67870


40


3


2




11502


335100


7880140


Wallrock


Reddish pink weakly ferruginous metasediment, possibly dololutite/very fine grained sst; fine fracture filled veins with green malachite and brown goethite, hematite; veins 1mm wide; crackle brecciate with fractures mineralised; finely laminate.


Stockpile


Sample 1 Average


5.06


50604


1315


6


ND




 


 


 


 


 


 


Sample 2 Average


1.23


12280


ND


2


ND




11503


335110


7880137


Wallrock


Reddish pink weakly ferruginous metasediment, possibly dololutite/very fine grained sst; fine fracture filled veins with green malachite and brown goethite, hematite; veins 1mm wide; crackle brecciate with fractures mineralised; finely laminate.


Stockpile


Sample 1 Average 1


23.81


238095


1066


23


ND




 


 


 


 


 


 


Sample 1 Average 2


2.15


21469


ND


ND


ND




 


 


 


 


 


 


Sample 2 Average


6.32


63153


ND


ND


ND




11504


335104


7880134


Wallrock


Reddish-orange brown moderately ferruginous metasediment; weakly laminate with copper mineralisation permeating laminae and intergranular disseminations; malachite with possible goethite-cuprite form crackfill veins (brecciate?).


Stockpile


Sample 1 Average


5.84


58385


122


3


ND




 


 


 


 


 


 


Sample 2 Average


17.33


173268


1046


19


ND




11505


335094


7880126


Dyke


Light cream with limonitic orange staining; argilically altered trachyte porphyry with original phenocrysts replaced by chalcocite rimmed by malachite, or totally malachite giving the specimen a spotted appearance; crackfill veins consist of malachite or a core of supergene chalcocite with an outer oxide rim of malachite.


Stockpile


Sample 1 Average


5.67


56672


122


6


7




 


 


 


 


 


 


Sample 2 Average


19.99


199852


84


50


8




11506


335130


7880158


Dyke


Light cream argilically altered trachyte, weakly porphyritic finely disseminated malachite throughout; minor scattered blebby stains and coatings of hematite in fine fractures; overall texture is hackly with a dull kaolinitic appearance.


Small stockpile


Sample 1 Average


2.21


22108


ND


2


ND




 


 


 


 


 


 


Sample 2 Average


3.94


39390


ND


ND


5




11507


335116


7880208


Dyke?


Reddish-brown dololutite metasediment but with replacive green glassy phenocrysts, some with a  core of brown micaceous mineral; green phenocrysts possibly epidote; weak malachite staining on laminae parallel and breccia fractures.


Boulder near (SW) of Pit 4


Sample 1 Average


1.36


13571


ND


ND


ND




 


 


 


 


 


 


Sample 2 Average


0.68


6793


26


2


ND




11508


335135


7880217


Wallrock/vein


Reddish-brown laminated dololutite metasediment with possible malachite-chalcocite-cuprite-hematite vein; heavy specimen suggests cuprite; cuprite finely specular, irregular veining, crackle breccia crack fill sample from boulder of main vein material; plus massive chalcocite-crystalline malachite veining.


Small stockpile near (SW) of Pit 4


Sample 1 Average


26.34


263353


317


ND


ND




 


 


 


 


 


 


Sample 2 Average


28.21


282059


585


ND


ND




11509


335172


7880251


Dyke


Light creamy argillically altered trachyte porphyritic dyke rock from waste pile around shaft at Pit 4; phenocrysts replaced by malachite giving a spotted appearance; common irregular crackfill veins of dark red-brown earthy hematite; possibly cupritic.


Waste periferal to shaft


Sample 1 Average


1.31


13082


ND


ND


ND




 


 


 


 


 


 


Sample 2 Average


3.96


39611


17


2


ND




11510


335344


7880348


Wallrock


Medium orange-brown, laminated and crenulate dololutite metasediment; bedding/laminae planes replaced and infilled by brown iron (& copper oxides); breccia crackfill veins of malachite and azurite suggest altered hanging wall source from Pit 3; hanging wall silica-jasperoidally altered.


Stockpile located approx 50m SW of Pit 3


Sample 1 Average


6.02


60162


95


3


ND




 


 


 


 


 


 


Sample 2 Average


4.99


49876


ND


2


ND




11511


335467


7880355


Dyke


Light creamy argillically altered trachyte porphyritic dyke rock; phenocrysts replaced by malachite often with a core of chalcocite giving a spotted appearance; minor irregular crackfill veins of malachite. 


Stockpile 20m S and adjacent to Pit 2


Sample 1 Average


18.28


182787


95


29


15




 


 


 


 


 


 


Sample 2 Average


10.52


105176


69


14


3




11512


335470


7880351


Wallrock


Medium orange-brown, massive very fine grained dololutite metasediment; breccia crackfill veins of malachite and azurite suggest altered hanging wall source from Pit 2; hanging wall silica-jasperoidally altered.


Stockpile 20m S and adjacent to Pit 2


Sample 1 Average


20.06


200638


76


20


ND




 


 


 


 


 


 


Sample 2 Average


18.11


181063


2399


ND


ND




11513


335449


7880324


Wallrock


Medium orange-brown, massive very fine grained dololutite metasediment; weakly laminate; breccia crackfill veins of malachite and azurite suggest altered hanging wall source from Pit 2; hanging wall silica-jasperoidally altered.


Stockpile 50m SW of Pit 2


Sample 1 Average


2.57


25739


ND


ND


ND




 


 


 


 


 


 


Sample 2 Average


49.31


493136


256


39


7




11514


335447


7880325


Wallrock


Medium orange to dark brown, massive very fine grained dololutite metasediment; strongly goethitic and limonitic, with malachite and chalcocite strongly brecciate heavy sample suggesting weathered, strongly oxidized sulphide vein material; crackfill veins of malachite and azurite suggest altered hanging wall source from Pit 2; hanging wall silica-jasperoidally altered.


Stockpile 50m SW of Pit 2


Sample 1 Average


9.77


97718


956


ND


ND




 


 


 


 


 


 


Sample 2 Average


15.96


159629


ND


ND


ND




11515


335450


7880321


Wallrock


Dark mauve-red hematite stained and sheared; massive green malachite in shear veins; plus, medium orange to dark brown, massive very fine grained dololutite metasediment with crackfill malachite.


Stockpile 50m SW of Pit 2


Sample 1 Average


15.25


152455


ND


5


ND




 


 


 


 


 


 


Sample 2 Average


15.09


150863


111


11


ND




11516


335412


7880352


Dyke (SE side)


Medium red-orange, massive very fine-grained trachyte; collected immediately adjacent to sheared SE contact; breccia crackfill veins, Pit 3, upper pit face. 


Upper pit face, Pit 3


Sample 1 Average


9.02


90239


79


13


ND




 


 


 


 


 


 


Sample 2 Average


8.54


85438


ND


ND


4




11517


335411


7880352


Dyke (NW side)


Medium red-orange, massive very fine-grained trachyte; collected immediately adjacent to sheared NW contact; breccia crackfill veins, Pit 3, upper pit face. 


Upper pit face, Pit 3


Sample 1 Average


2.01


20063


ND


ND


ND




 


 


 


 


 


 


Sample 2 Average


25.05


250532


ND


ND


ND




11518


335454


7880358


Dyke


Light creamy argillically altered trachyte porphyritic dyke rock; common irregular fine crackfill veins of possible malachite-chalcocite-cuprite suggesting crackle brecciation of altered dyke rock.


Stockpile 20m S and adjacent to Pit 2


Sample 1 Average


47.39


473856


394


82


ND




 


 


 


 


 


 


Sample 2 Average


4.27


42744


82


9


ND




11519


335394


7880344


Dyke


Medium red-pink massive fine grained trachyte dyke from NW side of narrow trachyte dyke in lower face in Pit 3; sample from just inside NW sheared contact; prominent argillic alteration absent; minor crackle brecciated with weak malachite and goethite stains and disseminations with fine crackfill veins.


Lower pit face, Pit 3


Sample 1 Average


1.43


14274


ND


ND


ND




 


 


 


 


 


 


Sample 2 Average


3.84


38373


ND


ND


ND




11520


335393


7880344


Dyke


Medium red-pink massive fine grained trachyte dyke from SE side of narrow trachyte dyke in lower face in Pit 3; sample from inside SE sheared contact; very weak incipient argillic alteration; minor crackle brecciated with weak malachite and goethite stains and disseminations with fine crackfill veins.


Lower pit face, Pit 3


Sample 1 Average


1.42


14161


ND


ND


ND




 


 


 


 


 


 


Sample 2 Average


43.94


439353


78


93


ND




11521


335394


7880343


Hanging Wall


Light mauve-reddish dololutite, bedded to laminate in outcrop; variably brecciate with scattered crackfill fine malachite veins.


Lower pit face, Pit 3 SE side


Sample 1 Average


0.29


2880


ND


2


ND




 


 


 


 


 


 


Sample 2 Average


0.38


3826


ND


ND


ND




11522


335394


7880341


Hanging Wall


Dark brown-black-brown, small goethitic-hematitic gossanous vein, parallel with main shear trend (230° magnetic); approx 20cm wide; hosted in bleached argillically altered metasediment; variably brecciate with crackfill and shear coatings of malachite.


Lower pit face, Pit 3 SE side


Sample 1 Average


2.22


22204


254


ND


ND




 


 


 


 


 


 


Sample 2 Average


2.58


25764


ND


2


ND




11523


335443


7880371


Dyke


Light creamy pink, argillically altered trachyte porphyritic dyke rock; phenocrysts replaced by malachite giving a spotted appearance; minor irregular fine crackfill veins of malachite; weak crackle brecciation of altered dyke rock.


Outcrop 20m SW along strike from Pit 2


Sample 1 Average


3.58


35819


57


2


ND




 


 


 


 


 


 


Sample 2 Average


6.58


65798


88


11


ND




11524


335450


7880367


Hanging Wall


Light mauve-reddish dololutite, bedded to laminate in outcrop; variably brecciate with scattered crackfill fine hematite and malachite stains and veinlets.


Outcrop 20m SW along strike from Pit 2


Sample 1 Average


0.98


9816


110


ND


ND




 


 


 


 


 


 


Sample 2 Average


15.99


159913


664


21


ND




Source: CCZ geology team - Sample ID, Location and Description of Rock Chips taken in recent field trip to the Big One Deposit
 
 
APPENDIX C: JORC CODE, 2012 EDITION - TABLE 1
The following JORC Code (2012 Edition) Table 1 is primarily supplied for the provision of the first release of the photographs and location data for the 'Big One' Deposit.
The reader of the current ASX Release is referred to the CCZ's first publication of the exploration results, diagrams, geological information, exploration planning activities and/or information contained in the body or appendices of the following CCZ ASX Releases:
·    "Final targets completed for drilling campaigns at Arya and Big One Deposit" released on 14-July-2020
Section 1 Sampling Techniques and Data




Criteria


JORC Code explanation


Commentary




Sampling techniques


·   Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.
·   Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.
·   Aspects of the determination of mineralisation that are Material to the Public Report.
·   In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.


·      Rock Chip Samples - were collected from approximately a 3m radius around the recorded co-ordinate location. The rock chip fragments that were collected to make up the sample included fragments that approximately ranged from 2-5cm. 
·      A total of 24 rock chip samples were collected in calico bags for laboratory analysis (11501-11524). Samples were collected from heaps that appeared to be unprocessed low-medium grade copper ore stockpiles. Samples of typical oxide (part supergene) mineralisation were sampled containing malachite, azurite, cuprite(?) and chalcocite
·      Samples were also collected from slot (pit) faces in Pit 3 (P3), upper NE face and lower NE face. Pit 2 (P2), NE face and small gossan. Pit 1 (P1) no samples collected (potential rock fall from high wall) Pit 4 (P4) rubble around spoil heap adjacent to shaft Trench 1.
·      The reader of the current ASX Release is referred to the CCZ's first publication of the geological diagrams and associated information: "Final targets completed for drilling campaigns at Arya and Big One Deposit" released on the ASX by CCZ on the 14-July-2020.




Drilling techniques


·   Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).


·      Not Applicable - no exploration results presented.
·      The reader of the current ASX Release is referred to the CCZ's first publication of the geological diagrams and associated information: "Final targets completed for drilling campaigns at Arya and Big One Deposit" released on the ASX by CCZ on the 14-July-2020.




Drill sample recovery


·   Method of recording and assessing core and chip sample recoveries and results assessed.
·   Measures taken to maximise sample recovery and ensure representative nature of the samples.
·   Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.


·      Not Applicable - no exploration results presented.
·      The reader of the current ASX Release is referred to the CCZ's first publication of the geological diagrams and associated information: "Final targets completed for drilling campaigns at Arya and Big One Deposit" released on the ASX by CCZ on the 14-July-2020.




Logging


·   Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
·   Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.
·   The total length and percentage of the relevant intersections logged.


·      Descriptions of the rock chip samples are given in Appendix B.
·      The reader of the current ASX Release is referred to the CCZ's first publication of the geological diagrams and associated information: "Final targets completed for drilling campaigns at Arya and Big One Deposit" released on the ASX by CCZ on the 14-July-2020.




Sub-sampling techniques and sample preparation


·   If core, whether cut or sawn and whether quarter, half or all core taken.
·   If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.
·   For all sample types, the nature, quality and appropriateness of the sample preparation technique.
·   Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.
·   Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.
·   Whether sample sizes are appropriate to the grain size of the material being sampled.


·      Not Applicable - no exploration results presented.
·      The reader of the current ASX Release is referred to the CCZ's first publication of the geological diagrams and associated information: "Final targets completed for drilling campaigns at Arya and Big One Deposit" released on the ASX by CCZ on the 14-July-2020.




Quality of assay data and laboratory tests


·   The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.
·   For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
·   Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.


·      Not Applicable - no exploration results presented.
·      The reader of the current ASX Release is referred to the CCZ's first publication of the geological diagrams and associated information: "Final targets completed for drilling campaigns at Arya and Big One Deposit" released on the ASX by CCZ on the 14-July-2020.




Verification of sampling and assaying


·   The verification of significant intersections by either independent or alternative company personnel.
·   The use of twinned holes.
·   Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
·   Discuss any adjustment to assay data.


·      Not Applicable - no exploration results presented.
·      The reader of the current ASX Release is referred to the CCZ's first publication of the geological diagrams and associated information: "Final targets completed for drilling campaigns at Arya and Big One Deposit" released on the ASX by CCZ on the 14-July-2020.




Location of data points


·   Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
·   Specification of the grid system used.
·   Quality and adequacy of topographic control.


·      The spatial location for the rock chips collected during the preliminary site visit at the Big One Deposit were collected by handheld GPS (-/+ 5m accuracy) [MGA94 Zone54]: The Table of rock chip locations and descriptions are in Appendix B.
·      The reader of the current ASX Release is referred to the CCZ's first publication of the geological diagrams and associated information: "Final targets completed for drilling campaigns at Arya and Big One Deposit" released on the ASX by CCZ on the 14-July-2020.




Data spacing and distribution


·   Data spacing for reporting of Exploration Results.
·   Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
·   Whether sample compositing has been applied.


·      The spatial location for the photographs collected during the preliminary site visit at the Big One Deposit were collected at two previously mined sites that exposed the copper mineralisation. The preliminary site visit was brief, in a limited time inspection of the Big One Deposit with the Landholder: therefore the full 600m strike length of the surface mineralisation is yet to be observed, the observations completed on the 05-August-2020 showed prospective copper mineralisation within one of the mined pits and the greater Big One Deposit area is anticipated to undergo a widespread reconnaissance during the pegging of the Big One Deposit drill sites.
·      The 05-August-2020 observed mineralisation included:
o  Location 01 (Figure 1, left photo, in ASX Release body): View looking east-north-east in the main excavated pit at the Big One Mine sub-parallel to the strike of the mineralisation, steep dip to the south-east dipping, which includes a copper carbonate mineralised fault breccia zone; 
o  Location 02 (Figure 1, right photo, in ASX Release body):  View looking west-south-west, the same sub-vertical structure looking south in a second pit following the strike trend in the opposite direction to the first pit; the host sediments are strongly hematite stained (non-magnetic), it is possible the mineralisation had been fully excavated here;
o  Location 03 (Figure 2, left photo, in ASX Release body):   Malachite (green) and Azurite (blue) as staining and fracture fill in this case, in fault brecciated siltstone. Most likely this had spalled off the mineralised zone, located as in pit float material. Green malachite and blue azurite are common as breccia and slicken side fracture fill; and 
o  Location 04 (Figure 2, right photo, in ASX Release body):   Malachite (green) as a crystalline coating/fracture infiill on hematite stained siltstone. Most likely this had spalled off the mineralised zone, located as in pit float material.
·      The reader of the current ASX Release is referred to the CCZ's first publication of the geological diagrams and associated information: "Final targets completed for drilling campaigns at Arya and Big One Deposit" released on the ASX by CCZ on the 14-July-2020.




Orientation of data in relation to geological structure


·   Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
·   If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.


·      Rock chip samples were taken at areas of interest from observed mineralisation along the line of lode of the mineralised dyke, secondary structures and surrounding spoil heaps.
·      The reader of the current ASX Release is referred to the CCZ's first publication of the geological diagrams and associated information: "Final targets completed for drilling campaigns at Arya and Big One Deposit" released on the ASX by CCZ on the 14-July-2020.




Sample security


·   The measures taken to ensure sample security.


·      The rock chip samples taken during the recent field trip were securely locked within the vehicle on site until delivered to Mt Isa for despatch to the laboratory in person by the field personnel.
·      The reader of the current ASX Release is referred to the CCZ's first publication of the geological diagrams and associated information: "Final targets completed for drilling campaigns at Arya and Big One Deposit" released on the ASX by CCZ on the 14-July-2020.




Audits or reviews


·   The results of any audits or reviews of sampling techniques and data.


·      Not Applicable - no exploration results presented.
·      The reader of the current ASX Release is referred to the CCZ's first publication of the geological diagrams and associated information: "Final targets completed for drilling campaigns at Arya and Big One Deposit" released on the ASX by CCZ on the 14-July-2020.




 
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)




Criteria


JORC Code explanation


Commentary






Mineral tenement and land tenure status


·    Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.
·    The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.


·      The following mineral tenures are held 100% by subsidiaries of Castillo Copper Limited, totalling an area of 736.8 km2 in the "Mt Oxide project":
o  EPM 26574 (Valprasia North) - encompasses the Big One historical mineral resource, Holder Total Minerals Pty Ltd, Granted 12-June-2018 for a 5 year period over 100 sub-blocks (323.3Km2), Expires 11-June-2023;
o  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 (216.5Km2), Expires: 28-Aug-2022; 
o  EPM 26525 (Hill of Grace) - encompasses the Ayra 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;
o  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
o  EPMA 27440 (The Wall) - An application lodged on the 12-Dec-2019 over 70 sub-blocks (~215Km2) by Castillo Copper Limited.
·      A check on the tenures in 'application status' was completed in 'GeoResGlobe' on the 18th-August-2020.  




Exploration done by other parties


·    Acknowledgment and appraisal of exploration by other parties.


·      Historical QDEX / mineral exploration reports have 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 in particular, proving satellite deposit style extensions to the several small sub-economic copper deposits (e.g. Big Oxide and Josephine).
·      With the Mt Oxide Project in regional proximity to Mt Isa and numerous historical and active mines, the Project area has seen portions of the historical mineral tenure subject to various styles of surface sampling, with selected locations typically targeted by shallow drilling (Total hole depth is typically less than 50m).
·      The Mt Oxide 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.
·      Various Holders and related parties of the 'Big One' historical mining tenure (ML8451) completed a range of mining activities and exploration activities on what is now the 'Big One' prospect for EPM 26462. The following unpublished work is acknowledged (and previously shown in the reference list): 
o  West Australian Metals NL, 1994. Drill Programme at the "Big One" Copper Deposit, North Queensland for West Australian Metals NL. 
o  Wilson, D., 2011. 'Big One' Copper Mine Lease 5481 Memorandum - dated 7 May 2011.
o  Wilson, D., 2015. 'Big One' Mining Lease Memorandum - dated 25 May 2015: and
o  Csar, M, 1996. Big One & Mt Storm Copper Deposits. Unpublished field report.
·      The reader of the current ASX Release is referred to the CCZ's first publication of the 1993 historical reverse circulation drilling results for additional diagrams and drilling information: "Historic drill data verifies grades up to 28.40% Cu from <50m in supergene ore at Mt Oxide Pillar" released on the ASX by CCZ on the 14-January-2020.
·      The reader of the current ASX Release is referred to the CCZ's first publication of the geological diagrams and associated information: "Drill program finalised to test 130m massive sulphide target at Arya prospect in Mt Oxide Pillar" released on the ASX by CCZ on the 1-July-2020. 
·      The reader of the current ASX Release is referred to the CCZ's first publication of the geological diagrams and associated information: "Final targets completed for drilling campaigns at Arya and Big One Deposit" released on the ASX by CCZ on the 14-July-2020. 
·      The SRK Independent Geologists Report released by CCZ on the ASX on 28-July-2020 contains further details on the 'Exploration done by other parties - Acknowledgment and appraisal of exploration by other parties' this report is formally titled "A Competent Persons Report on the Mineral Assets of Castillo Copper Limited" Prepared as part of the Castillo Copper Limited (ASX: CCZ, LSE: CCZ) LSE Prospectus, with the effective date of the 17-July-2020.




Geology


·    Deposit type, geological setting and style of mineralisation.


·      The Mt Oxide North project is located within the Mt Isa Inlier 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 similar to that of the Broken Hill Block in western New South Wales.
·       The Mt Oxide 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 Project area is cut by a major fault zone, trending north- northeast - south- southwest across the permits. This fault is associated with major folding, forming a number of tight syncline- anticline structures along its length.
·      The Desktop studies commissioned by CCZ on the granted mineral tenures described four main styles of mineralisation account for the majority of mineral resources within the rocks of the Mt Isa Province (after Withnall & Cranfield, 2013). 
o  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 Pb-Zn), Century, George Fisher North, George Fisher South (Hilton) and Lady Loretta deposits; 
o  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. 
o  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
o  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."):
o  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 (062o to 242o) that is intruded by a porphyry dyke.
o  The mineralised porphyry dyke is vertical to near vertical (85o), 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.
o  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.
o  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 
o  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
o  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:
o  Secondary copper staining over ~800m of strike length. 
o  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 additional 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 additional 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 additional 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; 
o  Sulphide mineralisation within breccia zones, along stress dilation fractures, emplaced within pore spaces, voids, or in other rock fractures; 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. 
·      The SRK Independent Geologists Report released by CCZ on the ASX on 28-July-2020 contains further details on the 'Geology - Deposit type, geological setting and style of mineralisation': this report is formally titled "A Competent Persons Report on the Mineral Assets of Castillo Copper Limited" Prepared as part of the Castillo Copper Limited (ASX: CCZ, LSE: CCZ) LSE Prospectus, with the effective date of the 17-July-2020.




Drill hole Information


·    A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.
·    If the exclusion of this information is justified on 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.


·      Not Applicable - no exploration results presented.
·      The reader of the current ASX Release is referred to the CCZ's first publication of the geological diagrams and associated information: "Final targets completed for drilling campaigns at Arya and Big One Deposit" released on the ASX by CCZ on the 14-July-2020.




Data aggregation methods


·    In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are 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.


·      Not Applicable - no exploration results presented.
·      The reader of the current ASX Release is referred to the CCZ's first publication of the geological diagrams and associated information: "Final targets completed for drilling campaigns at Arya and Big One Deposit" released on the ASX by CCZ on the 14-July-2020.




Relationship between mineralisation widths and intercept lengths


·    These relationships are particularly important in the reporting of Exploration Results.
·    If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.
·    If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known').


·      Rock chip samples were taken at areas of interest from observed mineralisation along the line of lode of the mineralised dyke, secondary structures and surrounding spoil heaps.
·      The reader of the current ASX Release is referred to the CCZ's first publication of the geological diagrams and associated information: "Final targets completed for drilling campaigns at Arya and Big One Deposit" released on the ASX by CCZ on the 14-July-2020.
·      For clarity and the avoidance of doubt, no recent drilling results are presented in this ASX Release for the Big One Deposit.




Diagrams


·    Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should 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.
·      The reader of the current ASX Release is referred to the CCZ's first publication of the geological diagrams and associated information: "Final targets completed for drilling campaigns at Arya and Big One Deposit" released on the ASX by CCZ on the 14-July-2020. 
·      For clarity and the avoidance of doubt, no recent drilling results are presented in this ASX Release for the Big One Deposit or the Arya Prospect.




Balanced reporting


·    Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.


·      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. 
·      Rock chip samples were taken at areas of interest from observed mineralisation along the line of lode of the mineralised dyke, secondary structures and surrounding spoil heaps.
·      The reader of the current ASX Release is referred to the CCZ's first publication of the geological diagrams and associated information: "Final targets completed for drilling campaigns at Arya and Big One Deposit" released on the ASX by CCZ on the 14-July-2020. 
·      For clarity and the avoidance of doubt, no recent drilling results are presented in this ASX Release for the Big One Deposit or the Arya Prospect.




Other substantive exploration data


·    Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.


·      The reader of the current ASX Release is referred to the CCZ's first publication of the geological diagrams and associated information: "Final targets completed for drilling campaigns at Arya and Big One Deposit" released on the ASX by CCZ on the 14-July-2020. 




Further work


·    The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).
·    Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.


·      'Further work' is described within the body of the ASX Release.




 
 
 

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