ASX-listed base metal explorer Castillo Copper Limited’s (ASX:CCZ) has received what it says is an encouraging geological review of five Zambian assets it is acquiring.
Castillo recently appointed an independent geology consultant based in Zambia to systematically review all five assets.
The first finalised report on the Mkushi project has provided demonstrably positive findings that indicate material exploration upside apparent.
CCZ’s managing director Simon Paull said that for the company’s Zambia pillar, the independent geologist has identified the priority Mkushi projects potential exploration upside, which is positive.
“Notably, exploration teams can be mobilised relatively quickly to commence fieldwork then formulate priority drill targets. On the two Australian pillars, the geology team is busily finalising the next phase of the exploration plans and setting timelines to commence field work. Clearly, we are now in an exciting period, as the Board implements the fundamental processes to begin transforming CCZ into a mid-tier copper group.”
MrPaull said that there are clear targets which justify immediate follow up fieldwork that can be used as the basis to formulate an inaugural drilling programme.
Ghe Mkushi project contiguously surrounds SYG’s 55km2 mining lease which houses the active open-pit MCM that has been producing copper since 2018.
A key finding is contiguous geological structures that host copper mineralisation along the same south-west trending shear zone between the Mkushi project and southern part of SYG’s 55km2 mining lease where MCM is situated
“The key salient point that underpins the Mkushi project’s prospectivity is there is a contiguous south- west trending shear zone extending from the Munshiwemba deposit (31.6Mt @ 0.62% Cu1,4,5) into the Mkushi project which hosts copper mineralisation,” Mr Paull said.