REG - Castillo Copper Ltd - Update on Key Priorities for 2022
30/11/2021 07:00
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RNS Number : 9572T Castillo Copper Limited 30 November 2021
30 November 2021
CASTILLO COPPER LIMITED
("Castillo" or "CCZ" the "Company")
Update on Key Priorities for 2022
Geologically modelling an inaugural JORC compliant resource at Big One Deposit
has been prioritised
Castillo Copper Limited ("CCZ"), a base metal explorer primarily focused on
copper across Australia and Zambia, is pleased to announce its key priority
objectives for 2022.
Big One Deposit
· Based on fresh insights, post CCZ's chief geological consultant
visiting the Big One Deposit, the Board has prioritised geologically modelling
an inaugural JORC compliant resource plus a third infill drilling campaign -
for the following reasons:
o Recent and historical drilling campaigns have intersected relatively
shallow copper mineralisation(1); and
o There is a significant bedrock conductor(2), north of the line of lode,
which is larger and of different character than the IP anomaly drilled in
2020, that is yet to be drill-tested.
Arya Prospect
· Drilling will continue at the Arya Prospect, while further
exploratory work will be undertaken to fully assess the potential of the
Eldorado Prospect to host copper mineralisation.
NWQ Copper Project
· Having reviewed peer 29Metal's (ASX: 29M) Capricorn Copper Mine(3),
which has multiple ore sources, the Board believes adapting this model for the
NWQ Copper Project is prudent:
o The exploration objective moves to identifying and potentially developing
several satellite deposits (commencing with the Big One Deposit) within the
tenure, which aggregated delivers a bundled scalable platform.
Mt Isa Region
· The Board will review the timeline to secure a mining lease plus
consult with potential off-take partners in the Mt Isa region to understand
the logistics and costs to process third-party ore.
Simon Paull, Managing Director of Castillo Copper, commented: "Following a
visit to the NWQ Copper Project by CCZ's chief geological consultant, which
yielded fresh perspectives, the Board has firmed up its objectives for 2022
which include geologically modelling an inaugural JORC compliant resource for
the Big One Deposit, continued drilling at the Arya Prospect and fully
assessing the Eldorado target's exploration potential. Notably, the case for
the Big One Deposit remains compelling given the drilling campaigns to date
have intersected significant copper mineralisation. In addition, the Board is
positive on the exploration potential of the Litchfield & Picasso Lithium
Projects and looks forward to finalising due diligence upon receipt of
assays."
PRIORITIES FOR NWQ COPPER PROJECT
CCZ's chief geological consultant recently visited the NWQ Copper Project to
review and assess developments at the Big One Deposit, Arya, and Eldorado
Prospects. Factoring in these fresh insights and perspectives, the Board has
prioritised geological modelling and JORC (2012) Code estimation for an
inaugural resource for the Big One Deposit and commissioning an infill
drilling campaign. The primary reasons for taking this stance are:
· Recent and historical drilling campaigns have intersected relatively
shallow copper mineralisation(1); and
· There is a significant bedrock conductor(2), north of the line of
lode, which is larger than the anomaly drilled in 2020 that is yet to be
drill-tested.
A 360-degree review of select regional peers highlighted some further
value-added insights that are potentially relevant to effectively developing
the NWQ Copper Project moving forward. Notably, 29Metal's Capricorn Copper
Mine(3) - located circa 50km south - has multiple ore sources. CCZ's Board
believes adopting a similar approach for the NWQ Copper Project has merit,
since there is a reasonable probability there are several moderately sized
copper deposits across the tenure group.
Consequently, this moves the exploration objective to identifying and
potentially developing several satellite deposits within the NWQ Copper
Project, commencing with the Big One Deposit. At a holistic level, the
potential aggregation of several satellite deposits delivers a bundled
scalable platform.
As part of the due process to stress-test this revised strategic intent, the
Board will review the timeline to secure a mining lease for the Big One
Deposit as a starting point. In addition, the Board intends to consult with
potential off-take partners across the Mt Isa region to understand the
logistics and costs to process third-party ore.
Next steps
In Queensland, the following is set to take place over the coming weeks:
· Assay results for the Arya Prospect.
For the lithium projects:
· Ongoing due diligence for Picasso and Litchfield Lithium Projects,
including return of assay results for surface sampling campaigns.
There are two ongoing steps for the Zambia operations, including:
· Complete the IP survey at the Mkushi Project; and
· Complete work on the inaugural drilling campaign for the Luanshya
Project.
In addition to this release, a PDF version of this report with supplementary
information and images can be found on the Company's website:
https://www.castillocopper.com/asx-announcements/
(https://www.castillocopper.com/asx-announcements/)
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, Elsa Darlington
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.
· 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."
References
1. Katz (1970) (CR5353); CCZ ASX Release - 14 January 2020 and
West Australian Metals NL (WME) ASX Release - 31 January 1994; and CCZ ASX
Release - 11 January 2021
2. CCZ ASX Release - 20 May 2021
3. 29M ASX Release - 13 July 2021
Competent Person Statement
The information in this report that relates to Exploration Results for "Big
One Deposit" 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, and Mr Biggs is the Company's
chief geological consultant. 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.
The London Stock Exchange has not reviewed and does not accept responsibility
for the accuracy or adequacy of this release.
APPENDIX A: JORC CODE, 2012 EDITION - TABLE 1
(Criteria in this section apply to all succeeding sections.)
The following JORC Code (2012 Edition) Table 1 is primarily supplied for the
provision of the final release of data for the 2021 Drilling Program at the
Big One Deposit. There is additional commentary provided at the end of Section
2.
Section 1 Sampling Techniques and Data
Criteria JORC Code explanation Commentary
Sampling techniques · Nature and quality of sampling (eg cut channels, random chips, or · For the 2021 program, samples are taken off a cyclone for every
specific specialised industry standard measurement tools appropriate to the metre drilled, put through a three tier, 87.5/12.5 splitter where
minerals under investigation, such as down hole gamma sondes, or handheld XRF approximately 2.5 kg of RC chip samples were collected for every metre
instruments, etc). These examples should not be taken as limiting the broad drilled. The remainder was bagged separately and stored in case additional
meaning of sampling. sub sampling is required before the end of the program.
· Include reference to measures taken to ensure sample · Weights recovered from riffle splitting varied between 1-2kg for
representivity and the appropriate calibration of any measurement tools or both the 1970 and 1993 drilling programs.
systems used.
· For the 2021 program, samples were also composited every four
· Aspects of the determination of mineralisation that are Material metres where visual inspection did not initially indicate copper
to the Public Report. mineralisation. All samples were collected to maximise optimal
representation for each sample.
· In cases where 'industry standard' work has been done this would
be relatively simple (e.g., 'reverse circulation drilling was used to obtain 1 · Each metre sample had an amount removed for washing and cleaning
m samples from which 3 kg was pulverised to produce a 30 g charge for fire and sieving then place into metre allocated chip trays (see Figure A1-1).
assay'). In other cases, more explanation may be required, such as where there These chips were logged on site by the rig geologists and those logs have been
is coarse gold that has inherent sampling problems. Unusual commodities or saved into a spreadsheet and stored on the Company server. Any visible
mineralisation types (e.g., submarine nodules) may warrant disclosure of mineralisation, alteration or other salient features were recorded in the
detailed information. logs. Industry-wide, acceptable, standard practices were adhered to for the
drilling and sampling of each metre as per the drilling and sampling
Procedures set out before commencement of the drilling programme.
Drilling techniques · Drill type (e.g., core, reverse circulation, open-hole hammer, · Reverse Circulation, RC, and HQ-sized diamond wireline drilling
rotary air blast, auger, Bangka, sonic, etc) and details (e.g., core diameter, techniques were utilised for all holes drilled at the Big One Deposit.
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).
Drill sample recovery · Method of recording and assessing core and chip sample recoveries · For the 2021 program, within acceptable industry standard limits,
and results assessed. all samples collected were of near equal mass and recoveries were also within
acceptable limits for RC drilling and all recorded in the daily logs. Every
· Measures taken to maximise sample recovery and ensure effort was made on site to maximise recovery including cleaning out the sample
representative nature of the samples. trays, splitter and cyclone and ensuring that the drillers progressed at a
steady constant rate for the rig to easily complete each metre effectively.
· 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.
Logging · Whether core and chip samples have been geologically and · For all drilling programs, every metre drilled and sampled was
geotechnically logged to a level of detail to support appropriate Mineral logged geologically in accordance with industry-wide acceptable standard for
Resource estimation, mining studies and metallurgical studies. RC logging and the logging was qualitative in nature with every metre logged.
Unfortunately, lithology dictionaries and descriptions varied between
· Whether logging is qualitative or quantitative in nature. Core programs. The 2021 programs also recorded visible sulphide and carbonate
(or costean, channel, etc) photography. concentrations and alteration minerals, such as orthoclase, epidote, chlorite,
and sericite.
· The total length and percentage of the relevant intersections
logged.
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all · For the 2021 program, samples with pXRF copper <200ppm will be
core taken. composited every four metres and all samples were collected to maximise
optimal representation for each sample. If XRF is not available, then all
· If non-core, whether riffled, tube sampled, rotary split, etc and samples with no visible mineralisation will be sampled as above.
whether sampled wet or dry.
· Each metre sample had an amount removed for washing and cleaning
· For all sample types, the nature, quality, and appropriateness of and sieving then place into metre allocated chip trays. These chips were
the sample preparation technique. logged on site by the rig geologists and those logs have been saved into a
spreadsheet and stored on the Company server. Any visible mineralisation,
· Quality control procedures adopted for all sub-sampling stages to alteration or other salient features were recorded in the logs. Industry wide,
maximise representivity of samples. acceptable, standard practices were adhered to for the drilling and sampling
of each metre as per the Drilling and Sampling Procedures set out before
· Measures taken to ensure that the sampling is representative of commencement of the drilling programme.
the in-situ material collected, including for instance results for field
duplicate/second-half sampling. · Any reporting of significant mineralised intervals was on a
received apparent thickness x interval calculation (i.e., thickness averaged).
· Whether sample sizes are appropriate to the grain size of the
material being sampled.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and · CCZ's DDH and RC holes will be assayed by an independent
laboratory procedures used and whether the technique is considered partial or laboratory, ALS at Mt Isa, Townsville, or Brisbane Australia. Methods used
total. were as follows:
· For geophysical tools, spectrometers, handheld XRF instruments, o Gold - by method Au-AA25 30g charge (fire Assay with AAS finish);
etc, the parameters used in determining the analysis including instrument make
and model, reading times, calibrations factors applied and their derivation, o High gold values within oxide zone/supergene zone may need further testing
etc. by method Au-SCR21.
· Nature of quality control procedures adopted (eg standards, o Copper and 32 other - by method ME-ICP41 (HF-HN03-HCL04 acid digest, HCL
blanks, duplicates, external laboratory checks) and whether acceptable levels leach and ICP-AES finish).
of accuracy (i.e. lack of bias) and precision have been established.
o Over-limit copper (>10,000 ppm 0.01% ) to be re assayed for copper by
method Cu-OC62 (HF-HN03-HCL04 acid digest, HCL leach and ICP-AES finish).
· These analytical methods are considered as suitable 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 and assaying · The verification of significant intersections by either · All CCZ's DDH and RC hole assay results from ALS have been
independent or alternative company personnel. reviewed by two independent consultant geologists. Assays from the BO_334DD
have recently been resolved.
· The use of twinned holes.
· For current the rock chip sampling, Independent Laboratory
· Documentation of primary data, data entry procedures, data assaying by ALS has confirmed, within acceptable limits, the occurrences of
verification, data storage (physical and electronic) protocols. high-grade copper inferred from the initial XRF readings. Laboratory
standards and duplicates were used in accordance with standard procedures for
· Discuss any adjustment to assay data. geochemical assaying.
Location of data points · Accuracy and quality of surveys used to locate drill holes · All twenty holes done by CCZ in 2021 have had their location
(collar and down-hole surveys), trenches, mine workings and other locations surveyed by GPS and will, at then, at the completion of drilling, were
used in Mineral Resource estimation. surveyed by differential GPS by independent licensed surveyors (GMC Surveys).
· Specification of the grid system used. · The spatial location for these holes has been differentially
surveyed into MGA94 - Zone 54. Collar heights are to the Australian Height
· Quality and adequacy of topographic control. Datum.
· The locations of the 1970 drillholes and 1993 drillholes have
been determined from georeferencing several plans and utilizing tables in
historical reports. Location errors for the 1970 drilling is ±20m whereas
it is about ±12m that for the 1993 holes.
Data spacing and distribution · Data spacing for reporting of Exploration Results. · The final 20 RC holes were part of a 35-hole program that was set
out on a nominal 100m pattern or to redrill 2020 holes that were found to be
· Whether the data spacing, and distribution is sufficient to too short. The 1970 drilling was set at a 30m spacing and the 1993 drilling
establish the degree of geological and grade continuity appropriate for the also at a 50m spacing. At the completion of all the planned holes, the
Mineral Resource and Ore Reserve estimation procedure(s) and classifications drillhole collars were differentially surveyed by an independent, licensed
applied. surveyor and the grid pattern verified. A drone survey over a 2.3Ha area was
flown over the exploration area and covered the outcrop length of the dyke.
· Whether sample compositing has been applied. Data was supplied as spot height clouds, orthophoto and topographic contours
in DXF / DWG format.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of · The current CCZ RC drilling programme (Figures B1-1, B1-2) has
possible structures and the extent to which this is known, considering the had all holes oriented to intersect the mineralised structure/zone subsurface
deposit type. perpendicularly and therefore does not constitute any perceived bias. The
typical dip direction of the new drillholes is 335-350 deg (Grid North).
· If the relationship between the drilling orientation and the
orientation of key mineralised structures is considered to have introduced a · Rock chip samples have also been taken at areas of interest from
sampling bias, this should be assessed and reported if material. observed mineralisation along the line of lode of the mineralised dyke,
secondary structures, and surrounding spoil heaps.
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 or reviews · The results of any audits or reviews of sampling techniques and · This will be done once all 28 holes in CCZ's Stage 2021 program,
data. and their assay results have been verified.
· For the historical drilling, the sampling techniques and the data
generated from the Laboratory Assay results have been peer reviewed by
consultant geologists familiar with the overall Mt Oxide Project and deemed to
be acceptable. To facilitate this, six (6) sites have twinned drillholes, with
the current drilling spudded immediately adjacent to the historical 1970, 1993
and 2020 drilling programs.
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 · The following mineral tenures are held 100% by subsidiaries of
agreements or material issues with third parties such as joint ventures, Castillo Copper Limited, totalling an area of 736.8 km(2) in the "Mt Oxide
partnerships, overriding royalties, native title interests, historical sites, North Project":
wilderness or national park and environmental settings.
o EPM 26574 (Valparaisa North) - encompasses the Big One historical mineral
· The security of the tenure held at the time of reporting along resource, Holder Total Minerals Pty Ltd, granted 12-June-2018 for a 5-year
with any known impediments to obtaining a licence to operate in the area. period over 100 sub-blocks (323.3Km(2)), 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 (216.5 Km(2)), Expires:
28-Aug-2022.
o EPM 26525 (Hill of Grace) - encompasses the Ayra (previously Myally Gap)
significant airborne EM anomaly, Holder: Total Minerals Pty Ltd for a 5-year
period over 38 sub-blocks (128.8Km(2)), 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 (74.2 Km(2)), Expires 12-Aug-2023; and
o EPMA 27440 (The Wall) - An application lodged on the 12-Dec-2019 over 70
sub-blocks (~215 Km(2)) by Castillo Copper Limited. The tenure was granted on
the 18(th of) March 2021.
· A check on the tenures in 'application-status' was completed in
'GeoResGlobe' on the 2(ND) July 2021.
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, proving satellite
deposit style extensions to the several small sub-economic copper deposits
(e.g., Big Oxide and Josephine).
· With the Mt Oxide North 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 characteristically less than 50m).
· The Mt Oxide North 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 26574. The
following unpublished work is acknowledged (and previously shown in the
reference list):
o Katz, E., 1970, Report on the Big One, Mt Devine, and Mt Martin Mining
Lease Prospects, Forsayth Mineral Exploration NL, report to the Department of
Mines, CR5353, 63pp
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 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 like that of the Broken Hill Block in
western New South Wales.
· The Mt Oxide North 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 several tight synclines- 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).
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 (062(o) to 242(o)) that is intruded by a
porphyry dyke.
o 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.
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 cut
pits.
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 Cu, Co, 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 · For the current program, all drillhole information was coded to
exploration results including a tabulation of the following information for the same formatted spreadsheets used by CCZ, being hand-encoded from hard-copy
all Material drill holes: reports, plans, and cross-sections.
o easting and northing of the drill hole collar · For CCZ's current drilling program, this information has been
recorded in formatted spreadsheets during the drilling and will be checked and
o elevation or RL (Reduced Level - elevation above sea level in metres) of verified at the conclusion of the current program. The current reported holes
the drill hole collar (315-317RC) are listed in Appendix 2, with previous drilling collars listed in
the 11(TH )and 26th July( )ASX release and in Tables B2-2 and B2-3.
o dip and azimuth of the hole
· A summary of the holes drilled are given at the end of section
o down hole length and interception depth B2.
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.
Data aggregation methods · In reporting Exploration Results, weighting averaging techniques, · Queries on some assays are currently pending on CCZ's current
maximum and/or minimum grade truncations (e.g., cutting of high grades) and drilling program.
cut-off grades are usually Material and should be stated.
· For historical surface sampling, Independent Laboratory Assay
· Where aggregate intercepts incorporate short lengths of results for soil and rock chip samples from the Big One Deposit were averaged
high-grade results and longer lengths of low-grade results, the procedure used if more than one reading or determination was given.
for such aggregation should be stated and some typical examples of such
aggregations should be shown in detail. · Copper grades were reported in this ASX release as per the
received laboratory report, i.e., there was no cutting of high-grade copper
· The assumptions used for any reporting of metal equivalent values results as they are directly relatable to high grade mineralisation styles
should be clearly stated. readily visible in the relevant samples and modelling has yet not commenced.
· There were no cut-off grades factored into any assay results
reported, however once modelling commences a high cut-off grade of 10,000ppm
or 10% copper will be used.
Relationship between mineralisation widths and intercept lengths · These relationships are particularly important in the reporting · When available, all mineralised intervals (i.e., >500ppm) have
of Exploration Results. been reported in this and previous ASX releases as the "as-intersected"
apparent thickness (in metres) and given that most drillholes dip at -60 to
· If the geometry of the mineralisation with respect to the drill -70 degrees from the horizontal, true intersection widths will be calculated
hole angle is known, its nature should be reported. during the block modelling process.
· 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').
Diagrams · Appropriate maps and sections (with scales) and tabulations of · This part will be done once CCZ's current drilling program is
intercepts should be included for any significant discovery being reported completed, and all samples have been assayed and verified.
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 (mE), and Northing (mN), unless clearly labelled otherwise.
· A series of cross-sections have been generated at Big One
displaying copper analyses in ppm to aid interpretation and exploration
planning (in previous ASX releases in July and August 2021)
Balanced reporting · Where comprehensive reporting of all Exploration Results is not · Comprehensive reporting is planned once CCZ's current drilling
practicable, representative reporting of both low and high grades and/or program has all sample queries returned and have been verified.
widths should be practiced avoiding misleading reporting of Exploration
Results. o 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.
· A complete comparison of visual mineralisation estimated by the
site geologist is given in Tables B2-6 through to B2-8 at the end of the next
section. All intersected intervals are apparent thicknesses in metres.
Other substantive exploration data · Other exploration data, if meaningful and material, should be · Several airborne EM and magnetic surveys have been conducted
reported including (but not limited to): geological observations; geophysical nearby by historical explorers and Castillo Copper has conducted its own
survey results; geochemical survey results; bulk samples - size and method of surface sampling program prior to drilling commencing as noted above. A major
treatment; metallurgical test results; bulk density, groundwater, geotechnical IP survey was completed during May 2021 across five (5) north-east trending
and rock characteristics; potential deleterious or contaminating substances. survey lines (dipole-dipole array). Historical work has focussed on drilling
and geochemical sampling, with no detailed geophysical data collection. The
copper intersected to date appears to be associated with a NE-SW trending
dyke. It occurs in two zones - oxidised (malachite, azurite, tenorite,
cuprite) and chalcocite. The aim of the IP survey was to ascertain if the
copper mineralisation intersected to date has a discernible electrical
response (chargeable and / or conductive). If so, it is hoped that other zones
of similar electrical response can be highlighted to better focus the upcoming
drill program.
As a result of the evaluation of data from the IP surveys carried out, the
following recommendations are made:
· The 2D section models are likely to give the most accurate
representation of the earth's conductivity and chargeability variations and
should be used when drill targeting. The 3D model output allows trends and
structures to be mapped and may give some indications of off-line anomalies.
· Treat anomalies on the edge of lines (and at depth) with caution.
Although care was taken to remove spurious data, some edge effects may persist
in the data. Before testing any anomalies, GeoDiscovery can check the raw data
to verify if a particular anomaly likely to be real.
· 50m DP-DP is shown to be a cost-effective method to cover ground
relatively quickly and map the electrical properties of the top 150m or so. If
drill testing the regions of elevated chargeability proves successful, a
larger 100m DP-DP or P-DP campaign may be considered to cover more ground and
to greater depth.
· Incorporate the 3D and 2D IP models into the available geological
database to determine the extent to which the chargeable zones may or may not
have been tested, as well as their geological / stratigraphic significance.
· It is recommended that where IP anomalies occur near surface, a
field visit is undertaken to see if anomaly can be explained by surficial
clays / lithology.
Further work · The nature and scale of planned further work (e.g., tests for · Future potential work is described within the body of the ASX
lateral extensions or depth extensions or large-scale step-out drilling). Release, and will include:
· Diagrams clearly highlighting the areas of possible extensions, o Detailed mapping and rock chip sampling.
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive. o Surface gravity and magnetic surveys, and potentially downhole EM surveys.
o Diamond Coring.
o Block modelling and wireframing.
o Resource Estimation.
GEOLOGICAL AND ASSAY SAMPLING OVERVIEW (SECTION 2 CONTINUED)
Drilling program
The 2021 drilling program concluded in late August 2021 comprised 20 RC
drill-holes (including one pre-collar) for 2,632m and one partial HQ diameter
diamond-cored for 32m. Most drill-holes were downhole geophysically logged
with deviation, caliper, natural gamma - several had acoustic scanner tools
run. Notably, around 25% of the drill-holes collapsed resulting in variable
down-hole, while the ground around the dyke is quite fractured and jointed.
Drill-holes 315-318RC, 326RC, 327RC, 333RC, and 334DD had significant
mineralisation and extended the underlying system. The best, deepest,
mineralisation was BO_318RC with 16m (apparent) from 166 to 182m @0.59% Cu,
including 3m from 176-179m @ 1.76% Cu.
However, for the drill-holes designed to test the halo on the southern part of
the strike extent, which did not intersect the dyke, the results were moderate
with under 500ppm Cu recorded.
Ground & drone survey
The surveyor (GMC Surveys) completed surveying all forty 2020 and 2021
drill-hole collars (Tables A2-1 and A2-2). Average errors compared to the
handheld GPS readings taken whilst each hole was drilled were negligible at
±0.7m in X and Y.
In addition, the surveyor picked up six of the 1993 drill-hole collars where
there was still casing evident: these needing rehabilitation. The average
error compared to the geo-referenced 1993 coordinates (from a hard copy plan)
were about ±12m in X and Y. The detailed drone and ground survey, including
building a PSM at Big One Deposit, established the QLD 1 Sec DEM topography
model was on average 3.40m too high at the drillhole collars. Further,
co-ordinates of unrehabilitated historical drill-holes were taken.
TABLE A2-1: LOCATION OF ALL COMPLETED 2021 DRILLHOLES - GMC SURVEY
SiteID Easting (GDA94) Northing (GDA94) Collar RL (m) Total Depth (m) Azimuth Dip Note Comments
BO_315RC 335416.54 7880310.99 156.13 80.00 320.8 -57.6 Redrill 201RC Breakdowns
BO_316RC 335426.88 7880296.19 156.04 155.00 349.6 -71.9 Redrill 202RC
BO_317RC 335392.82 7880285.23 154.67 125.00 347.6 -59.6 Redrill 306RC
BO_318RC 335431.00 7880282.63 155.58 203.00 344.2 -74.6 Redrill 203RC
BO_319RC 335288.27 7880265.10 152.63 149.00 331.9 -72.7 Redrill 312RC
BO_320RC 335309.56 7880203.56 155.53 83.00 329.3 -60.0 New hole Abandoned due to high water flow
BO_321RC 335224.68 7880234.68 154.47 137.00 321.6 -66.0
BO_322RC 335191.11 7880219.79 154.75 131.00 324.2 -65.4
BO_323RC 335158.35 7880188.76 155.04 131.00 331.6 -61.9 Matched to 325RC
BO_324RC 335118.00 7880203.00 157.00 76.00 328.2 -61.8 Abandoned due to faulted ground
BO_325RC 335113.69 7880291.66 151.26 130.00 164.4 -64.5 Oriented south
BO_326RC 335175.53 7880306.22 151.81 191.00 160.4 -57.1 Oriented south Abandoned due to high water flow
BO_327RC 335333.50 7880264.58 153.26 173.00 324.4 -61.6
BO_328RC 335376.95 7880295.83 154.36 131.00 332.6 -62.4
BO_329RC 335402.88 7880254.32 155.84 120.00 320.4 -60.0
BO_330RC 335412.00 7880211.00 163.00 130.00 333.2 -60.4
BO_331RC 335275.45 7880249.48 152.89 161.00 322.6 -56.0
BO_332RC 335294.48 7880240.07 153.76 132.00 330.8 -58.0 Redrill of 320RC
BO_333RC 335110.60 7880194.01 154.21 125.00 330.2 -60.3 Redrill of 324RC
BO_334DD 335458.29 7880313.59 157.59 104.98 335.0 -61.2 Between 207RC and 304RC HQ cored fm 68.85m; 32.31m HQ core
2,667.98
Notes:
1. All drillholes except BO_334DD downhole geophysically logged
the entire hole
2. Azimuths and dips are averaged readings from downhole
deviation tool over the length of the hole
Source: CCZ geology team
TABLE A2-2: LOCATION ALL COMPLETED 2020 DRILLHOLES - GMC SURVEY
SiteID Easting (GDA94) Northing (GDA94) Collar RL (m) Total Depth (m) Azimuth Dip Comments
BO_201RC 335414.80 7880310.43 156.04 50.0 306.5 -51.6
BO_202RC 335428.03 7880299.12 156.29 82.0 342.0 -62.2
BO_203RC 335432.18 7880283.98 155.60 107.0 330.5 -70.5
BO_206RC 335468.16 7880333.15 158.40 71.0 340.1 -65.5
BO_207RC 335476.25 7880316.80 158.42 95.0 332.1 -61.4
BO_211RC 335443.87 7880324.68 157.30 107.0 345.0 -67.9
BO_213RC 335389.02 7880302.33 155.35 107.0 338.4 -69.3
BO_301RC 335405.00 7880325.87 156.98 53.0 339.0 -66.7 Mineralised entire length
BO_302RC 335382.75 7880316.70 156.11 59.0 342.3 -68.1
BO_303RC 335425.16 7880339.52 158.31 53.0 342.6 -60.8 Mineralised entire length
BO_304RC 335448.96 7880312.64 157.18 107.0 340.8 -65.3
BO_305RC 335461.65 7880346.92 159.13 53.0 340.5 -69.0
BO_306RC 335391.40 7880285.01 154.58 107.00 337.4 -70.1
BO_307RC 335481.53 7880361.85 160.40 91.00 336.4 -69.2
BO_308RC 335339.75 7880305.93 153.40 53.0 335.8 -65.3
BO_309RC 335350.03 7880291.61 153.31 77.0 346.5 -68.5
BO_310RC 335347.89 7880277.61 153.62 107.0 336.1 -66.9
BO_311RC 335281.18 7880275.09 152.02 59.0 336.8 -66.7
BO_312RC 335286.17 7880264.98 152.23 83.0 344.0 -65.3
BO_313RC 335209.65 7880258.84 153.98 59.0 344.8 -66.8
BO_314RC 335221.14 7880250.74 153.92 71.0 330.2 -63.2
1,651
Notes:
1. All drillholes except BO_314RC downhole geophysically
logged.
2. Azimuths and dips are averaged readings from downhole
deviation tool over the length of the hole.
Source: CCZ geology team
Stockpile sampling
Twelve separate stockpile samples, covered by the drone survey, were mapped
and sampled enabling accurate volumes to be estimated. All historical
stockpiles originated from Pits 1-3 and were mostly comprised of mineralised
reject material (cupriferous dyke and quartzite) from the 1990's mining
operations.
Initial XRF readings on some indicated high copper (highest 3.84%). All
twelve separate stockpiles were grab sampled at regular spacings across the
base of each stockpile, with multiple samples collected across each
stockpile. Samples were dispatched to the laboratory late August, with some
of the resultant assay results returning high-grade values exceeding 3% Cu. In
addition, elevated results for silver, cobalt and chromium were returned.
Similar calculations for the other stockpiles resulted in a total accumulation
of 7,407t @ average of 1.17% Cu. Further metallurgical testing is required
to verify recoveries, while a valid mining lease will be needed to exploit
this on-surface resource.
Next drillhole sites pegged and surface sampled
Another twenty-two sites have been identified for drilling (focused on the
northern portion of the strike extent) and will require key approvals, track,
and pad clearing. The geology team took rock-chips samples (see Table A2-4)
which comprised elevated copper readings.
Additional mapping areas defined
Based on the rock chip database which includes historic sampling, IP lines,
proposed borehole sites, and stockpiles, four areas for a detailed sampling
grid have been identified.
IP survey line sampling
These have been completed, with XRF results available for all lines and
laboratory assays for three lines. Samples were taken at every 25m survey
peg, and whilst most pXRF results were <30ppm Cu, several copper anomalies
were found along some lines. Selected samples were sent for laboratory
assay, with the results below in Table A2-3.
TABLE A2-3: IP SURVEY TRAVERSE LINES (>100PPM CU)
Line_SiteID X Y Z Cu_Pxrf_ Lab_Au_ Lab_Ag_ Lab_Co_ Lab_Cu_ Rock Description
ppm ppm ppm ppm ppm
300_02 335244.6 7880365.7 155.7 55.5 0.01 0.05 9 180 Weathered light grey, brown quartzite
300_03 335254.3 7880342.6 155.0 49.5 <0.01 0.01 9 144 Strongly weathered fine grained siltstone with secondary haematite
300_12 335341.3 7880135.1 160.2 62 <0.01 0.07 16 135 Weathered pink partly albite altered sandstone with manganese
400_16 335356.0 7880358.0 157.0 146 <0.01 0.09 8 165 Strongly weathered fine grained ferruginous sandstone with some
secondary haematite veins
400_17 335366.0 7880335.0 156.0 615 <0.01 0.74 31 8,260 Weathered locally spherulitic? dacite, part sericite altered and
sericite-epidote alteration of spherules. Some dark
grey haematite after sulphide veins
400_18 335376.0 7880312.0 156.0 101 <0.01 0.03 4 117 Medium grained white quartzite (all quartz)
400_19 335385.0 7880289.0 156.0 738 <0.01 0.06 17 164 Medium grained pink ferruginous sandstone
500_05 335458.1 7880373.9 165.2 222 0.01 0.01 21 405 Weathered ferruginous siltstone
500_06 335467.7 7880350.8 162.7 2,422 <0.01 0.49 46 3,180 Chrysocolla-stained strong albite-K-feldspar altered siltstone with
relict haematite after oxidised chalcopyrite?
500_07 335477.4 7880327.8 160.9 578 0.01 0.48 37 6,430 Pink, brown weathered siltstone
600_12 335540.6 7880435.6 190.8 103 <0.01 0.01 7 115 Strongly weathered light to medium brown, medium grained
quartz-feldspar-clay-feldspar sandstone with haematite and goethite
600_13 335550.3 7880412.6 186.5 236 0.06 0.02 7 333 Strongly weathered pitted red brown to light brown quartzite with quartz and
intergranular clay
600_14 335559.9 7880389.5 182.3 1,049 <0.01 0.21 168 4,000 Strongly albitised siltstone with traces of malachite on surface, part
botryoidal fine-grained haematite after possible sulphide vein
TABLE A2-4: LAB ASSAY FOR 2022 DRILL-HOLE SITES
SiteID X Y Z Cu_Pxrf_ppm Lab_Au_ppm Lab_Ag_ppm Lab_Co_ppm Lab_Cu_ppm Rock Description
2021_BO_03 335532 7880325 160 28 0.02 0.02 7.9 21.7 Pink fine grained finely bedded siltstone
2021_BO_11 335574 7880283 160 20 0.01 0.01 0.6 6 Quartz vein in white quartzite with some secondary haematite
2021_BO_15 335325 7880173 160 27 0.02 0.01 13.3 33.2 Weathered finely bedded pink haematitic siltstone
2021_BO_20 335470 7880108 160 26 0.01 0.01 1.5 5.7 Dark brown weathered spotted pink quartzite with spots after garnet?
2021_BO_21 335437 7880411 160 62 0.01 0.01 5.8 34.2 Dark brown strongly weathered goethitic sandstone
2021_BO_23 335625 7880553 160 18 0.01 0.01 1.1 6.3 Pink quartz-feldspar quartzite
2021_BO_24 335560 7880585 160 22 0.02 0.01 0.8 4.1 Coarse pink quartzite with secondary limonite-haematite
2021_BO_25 335297 7880695 160 17 0.02 0.01 1.1 4.3 Medium grained white quartzite
2021_BO_26 335173 7880308 160 22 0.01 0.02 0.7 9.4 Brown spotted fine grained quartz-feldspar sandstone with dark brown secondary
limonite after garnet?
2021_BO_27 335054 7880242 160 30 0.01 0.04 8.5 155 Light brown strongly weathered fine grained limonitic sandstone
2021_BO_28 334943 7880188 160 28 0.01 0.01 2 14.3 Coarse to medium grained weathered white quartzite with secondary iron
2021_BO_29 335170 7880512 160 25 0.02 0.02 6.8 10.5 Weathered red brown ferruginous siltstone
2021_BO_30 335287 7880218 160 34 0.01 0.01 6.3 20.8 Weathered fine grained haematitic sandstone with some goethite
2021_BO_31 335268 7880500 160 34 0.02 0.01 3.4 6.8 Weathered pink, brown fine-grained sandstone
2021_BO_32 335055 7880054 160 37 0.01 0.02 21.3 17.3 Weathered medium brown fine gained siltstone
1. Locations for 2022 drilling sites listed in the Table A2-4
are shown on Figure A2-5
2. All coordinates in MGA94-Zone 54
Source: CCZ geology team
Sample assay review
Drill-holes BO_315, 316, 317, 318, 326, 327 and 333RC have been the standout
results for the second drilling campaign, with moderate mineralisation
observed in BO_323RC, 324RC, 325RC, and 334DD. Assay results from the cored
section of BO_334DD only revealed 1m of copper mineralisation at the top of
the dyke.
Analysing assay data has shown the porphyritic dacite dyke can be
characterised by high chromium and lithium laboratory assay levels compared to
background (up to six times for Cr and ten times for Li).
Results for major copper mineralisation of 20 holes completed have now been
received from the laboratory, as summarised in Table A2-5.
The major dyke and halo intersections are listed in Table A2-6 below,
followed by Table A2-7, which documents the qualitative assessment of mineral
ranges present for drill-holes from the geologist's logs.
TABLE A2-5: BO_315-334DD LABORATORY ANALYSIS - COPPER ASSAY COMPARISON
Drillhole From (m) To (m) Apparent Length (m) Cu (%) Notes
BO_315RC 61.0 69.0 8.0 0.50% Visual mineralisation 62-69m
including 65.0 68.0 3.0 1.22%
BO_316RC 137.0 146.0 9.0 0.64% Visual mineralisation 129-146m
including 141.0 146.0 5.0 1.06%
BO_317RC 88.0 97.0 9.0 1.42% Visual mineralisation 90.5-103m
including 92.0 96.0 4.0 3.06%
including 92.0 93.0 1.0 9.19% Also 3.4 g/t Ag
BO_318RC 166 182 16.0 0.59%
including 176 179 3.0 1.76%
BO_319RC - - 0 - All samples <500ppm.
BO_320RC - - 0 - Abandoned shallow; All samples <500ppm.
BO_321RC - - 0 - All samples <500ppm.
BO_322RC - - 0 - All samples <500ppm.
BO_323RC 64 65 1.0 0.06%
BO_323RC 94 96 2.0 0.11%
BO_324RC 46 49 3.0 0.05% Abandoned shallow; All other samples <500ppm.
BO_325RC 88 89 1.0 0.05% All other samples <500ppm.
BO_326RC 100 104 4.0 0.56%
including 100 101 1.0 1.58%
BO_326RC 102 103 1.0 - 0.15ppm Au
BO_326RC 141 144 3.0 - 0.16ppm Au
BO_327RC 93 98 5.0 0.77%
including 95 97 2.0 1.57%
BO_327RC 103 104 1.0 0.43%
BO_327RC 122 123 1.0 0.11%
BO_328RC - - 0 - All samples <500ppm.
BO_329RC - - 0 - No dyke; All samples <500ppm.
BO_330RC - - 0 - No dyke; All samples <500ppm.
BO_331RC 75 76 1.0 0.05%
BO_332RC 110 111 1.0 0.05%
BO_333RC 42 45 3.0 0.15%
including 43 44 1.0 0.31%
BO_334DD 86.43 87.43 1.0 0.52% In the RC section, all samples <500ppm.
including 86.93 87.43 0.50 1.02%
Source: CCZ geology team
TABLE A2-6: MAJOR DYKE AND HALO INTERSECTIONS
Borehole From (m) To (m) Apparent Thickness (m) Comments
BO_315RC 58.0 61.0 2.0 Quartzite
BO_315RC 61.0 69.0 8.0 Trachyte to porphyry dacite
BO_315RC 69.0 71.0 2.0 Quartzite
BO_316RC 113.0 120.0 7.0 Quartzite
BO_316RC 129.0 146.5 17.5 Trachyte to porphyry dacite
BO_317RC 11.0 13.0 2.0 Haematite-rich Shale
BO_317RC 20.0 24.0 1.0 Quartzite; Pyrolusite
BO_317RC 42.0 43.0 1.0 Quartzite; Pyrolusite
BO_317RC 65.0 66.0 1.0 Quartzite; Pyrolusite
BO_317RC 75.0 76.0 1.0 Siltstone; Potassic Alteration
BO_317RC 90.5 103.0 12.5 Andesite dyke, plus sericite and chrysocolla
BO_317RC 103.0 105.0 2.0 Quartzite
BO_318RC 89.0 100.0 11.0 Dacitic
BO_318RC 153.0 187.0 34.0 Dacitic, some orthoclase
BO_319RC 55.0 64.0 9.0 Dacitic, some orthoclase
BO_319RC 83.0 84.0 1.0 Quartzite
BO_319RC 87.0 91.0 4.0 Dacitic
BO_319RC 96.0 98.0 2.0 Dacitic
BO_320RC 79.0 80.0 1.0 Quartzite, some orthoclase
BO_321RC 63.0 72.0 9.0 Dacitic
BO_321RC 86.0 88.0 2.0 Quartzite
BO_321RC 97.0 100.0 3.0 Quartzite
BO_322RC 57 73.5 16.5 Dacitic
BO_323RC 8 9 1.0 Dacitic, pervasive orthoclase
BO_323RC 82 97 15.0 Dacitic, some orthoclase
BO_324RC 3 6 3.0 Quartzite
BO_324RC 33 40 7.0 Fractured quartzite
BO_324RC 41 53 12.0 Dacite
BO_325RC 2 4 2.0 Dacite
BO_325RC 45 46 1.0 Dacitic
BO_326RC 5 9 4.0 Dacite
BO_326RC 27 28 1.0 Quartzite with abundant pyrite
BO_326RC 134 161 27.0 Dacite
BO_327RC 84 98 14.0 Dacite
BO_327RC 98 99 1.0 Quartzite
BO_328RC 62 73.5 11.5 Dacite
BO_328RC 101 102 1 Dacite
BO_329RC 0 No igneous intrusions
BO_330RC 70 75 5.0 No igneous intrusions; but skarn
BO_330RC 81 82 1.0 Skarn
BO_330RC 100 102 2.0 Skarn
BO_330RC 122 125 3.0 Skarn
BO_331RC 58 59 1.0 Dacite
BO_331RC 75.5 83.5 8.0 Dacite
BO_331RC 114.5 116 1.5 Dacite and skarn
BO_332RC 81.5 94.5 13.0 Dacite
BO_332RC 108.5 111 2.5 Dacite
BO_333RC 37 42 5.0 Dacite
BO_333RC 45 46 1.0 Dacite
BO_334DD 86.49 95.52 9.03 Dacite
Notes:
1. Detailed visual mineralisation estimates given in Table B2-7
below
Source: CCZ geology team
TABLE A2-7: QUALITATIVE ASSESSMENT - MINERALISATION DRILLHOLES 315RC-334DD
Borehole From (m) To (m) Apparent Thick. (m) Magnetite Epidote (%) Sericite (%) Sulphides (%) Comments
(%)
BO_315RC 58.0 61.0 2.0 0-1 1-3 Quartzite, partly mineralised
BO_315RC 61.0 69.0 8.0 1-2 1-8 1-4 Trachyte to porphyry dacite
BO_315RC 69.0 71.0 2.0 1-5 0-1 Quartzite, partly mineralised
BO_316RC 113.0 120.0 7.0 1-15 0-1 Quartzite, partly mineralised
BO_316RC 129.0 146.5 17.5 1-5 1-10 1-7 Trachyte to porphyry dacite
BO_317RC 11.0 13.0 2.0 1-3 Haematite-rich Shale
BO_317RC 20.0 24.0 1.0 0-1 Quartzite; 0-2% Pyrolusite
BO_317RC 42.0 43.0 1.0 Quartzite; 0-2% Pyrolusite
BO_317RC 65.0 66.0 1.0 Quartzite; 0-2% Pyrolusite
BO_317RC 75.0 76.0 1.0 Siltstone; 3-5% Potassic Alteration
BO_317RC 90.5 103.0 12.5 0-2 1-15 1-3 1-4 Andesite dyke, plus sericite and chrysocolla
BO_317RC 103.0 105.0 2.0 1-2 Quartzite, partly mineralised
BO_318RC 89 100 11 1-3 1-3 1-2 0-1 Drilled next to 203RC, Dacitic
BO_318RC 153 187 34 1-5 1-5 1-15 Dacitic, some orthoclase
BO_319RC 55 64 9 1-10 1-5 1-3 0-10 Dacitic, some orthoclase
BO_319RC 83 84 1 0 1-5 Quartzite
BO_319RC 87 91 4 1-5 1-5 Dacitic
BO_319RC 96 98 2 0 1-5 1-5 Dacitic
BO_320RC 79 80 1 5-10 Quartzite; new hole abandoned at 83m
BO_321RC 63 72 9 5-50 1-5 Dacitic
BO_321RC 86 88 2 5-10 1-3 Quartzite
BO_321RC 97 100 3 0-5 1-10 0-1 Quartzite
BO_322RC 57 73.5 16.5 1-10 0 1-2 0-5 Dacitic
BO_323RC 8 9 1.0 1-20 1-2 0 3-5 Dacitic, pervasive orthoclase
BO_323RC 82 97 15.0 1-10 1-5 0 0-3 Dacitic, some orthoclase
BO_324RC 3 6 3.0 1-5 0 1-3 1-5 Quartzite
BO_324RC 33 40 7.0 1-10 0 0 1-2 Fractured quartzite
BO_324RC 41 53 12.0 2-15 1-5 1-5 1-6 Dacite; abandoned at 76m
BO_325RC 2 4 2.0 5-10 0 0 1-5 Dacite
BO_325RC 45 46 1.0 1-5 1-5 1-5 1-3 Dacitic
BO_326RC 5 9 4.0 5-10 0 0 1-3 Dacite
BO_326RC 27 28 1.0 0-5 0 1-5 0-1 Quartzite, abundant pyrite
BO_326RC 96 100 4.0 0-5 0-2 1-5 1-3 Dacite
BO_326RC 134 160 26.0 0-25 1-5 0-10 1-6 Dacite
BO_327RC 60 68 8.0 0-10 1-3 0-2 1-5 Dacite
BO_327RC 81 90 8.0 0-15 1-5 0-3 1-5 Dacite
BO_327RC 90 99 9.0 0-20 1-3 0 5-10 Quartzite
BO_328RC 5 6 1.0 0 0 0 5-6 Azurite
BO_328RC 63 65 2.0 0 0 0 0-2 Dacite
BO_328RC 65 66 1.0 0 0 0 1-3 Dacite
BO_328RC 66 68 2.0 0 0 0 0-2 Also 2% chlorite
BO_329RC 29 32 3.0 0-5 0 0 0 Goethite
BO_329RC 116 117 1.0 0 2-10 0 0-1 Quartzite
BO_330RC 58 60 2.0 0 0 0 0-2 Chalcopyrite and Chalcocite
BO_330RC 60 61 1.0 0 0 0 0-1 Sphalerite
BO_330RC 70 75 5.0 0 0 0 0 Skarn 2-6% garnet
BO_330RC 110 111 1.0 0 0 0 0-2 Chalcopyrite
BO_330RC 127 128 1.0 0 0 0 0-2 Chalcopyrite
BO_330RC 131 132 1.0 0 0 0 0-2 Chalcopyrite
BO_330RC 133 134 1.0 0 0 0 0-2 Chalcopyrite
BO_331RC 58 59 1.0 0 0 0 0-1 Dacite
BO_331RC 75.5 83.5 8.0 0 0-1 1-5 0-3 Dacite
BO_331RC 104 105 1.0 0 0 0 0-1 Quartzite
BO_331RC 114.5 116 1.5 0 0 2-15 0 Skarn, Garnet 1-2%
BO_332RC 81.5 94.5 13.0 0-1 0-3 1-5 1-2 Dacite
BO_332RC 102 103 1.0 0 0 0-2 0-2 Quartzite
BO_332RC 108.5 111 2.5 0 1-10 1-5 0-2 Dacite
BO_332RC 120 122 2.0 0 0 0 0-1 Quartzite
BO_333RC 11 13 2.0 0 0 0 0-2 Siltstone
BO_333RC 19 21 2.0 0 0 0 0-2 Quartzite
BO_333RC 26 27 1.0 0 0 1.5 0-2 Quartzite
BO_333RC 37 42 6.0 0-1 1-5 1-10 0-3 Dacite
BO_333RC 45 46 1.0 0 0-5 1-3 0-3 Dacite
BO_333RC 104 108 4.0 0 0 0 0-1 Quartzite, 1-3% chlorite
BO_333RC 117 118 1.0 0 0 0 0-1 Quartzite
BO_334DD 71 78 6.0 0-1 0-2 0-2 0-1 Quartzite
BO_334DD 86.49 95.52 9.03 0-5 1-5 1-10 0-3 Dacite
Notes:
1. Samples have been taken at 1m intervals (refer to Figure
A2-10).
2. Mineralisation estimated from field geologists rock chip
estimates.
3. True vertical depths will be calculated by Minescape block
model procedures.
4. A zone of limited mineralisation inferred to be associated
with the dyke was intersected in each deepened drill hole.
Source: CCZ geology team
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