Pit optimisation at Big One promises results for Castillo
PERTH (miningweekly.com) – A preliminary pit optimisation study for ASX-listed Castillo Copper’s Big One deposit, at its NWQ copper project in Queensland, has estimated that it could deliver 6 266 t of copper, 4 362 oz of silver and 1 469 t of cobalt.
Castillo told shareholders that the study estimated a net present value of A$28-million for the deposit, based on the current mineral resource estimates of 2.1-million tonnes at 1.1% copper.
“The board is delighted with the findings from Entech’s preliminary pit optimisation study, as it provides significant confidence a standalone mining operation can potentially be developed at Big One deposit. More importantly, the board believes the study’s insights will be key to securing a strategic partner to progress critical development work moving forward,” said Castillo chairperson Ged Hall.
Castillo on Thursday pointed out that there were 20 known prospects across the NWQ copper project, which were highly prospective for copper, gold, lead and zinc mineralisation, which could potentially provide the foundation for a series of satellite deposits.
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