Castillo Copper has selected Depco Drilling as the lead contractor for the upcoming reverse cycle and diamond drill campaigns at the Big One deposit and Arya prospect within the Mount Oxide project.

Castillo said the drilling company had agreed to accept a material proportion of their fees in shares, with a six-month voluntary escrow period.

“This is an excellent result, as we now have an in-principle agreement with a specialist Queensland-based driller that knows the Mount Oxide region well,” Castillo Copper UK director Ged Hall said.

“Further, after all the hard work our geology team have done evaluating the Big One deposit and Arya prospect, we are now heading towards the pointy end of the exploration journey for these priority targets.”

The agreement between the companies remains subject to Depco legal review and Castillo shareholder approval.

The Mount Oxide project is located 150km north of Mount Isa near the old Mount Oxide copper mine

The RC drilling campaign for the Arya prospect will comprises about 3432m over 14 drill-holes.

The Big One Deposit will see a 4385m RC drilling campaign, over 35 drill-holes, and an incremental 160m diamond drilling campaign, targeting two
drill-holes that are testing primarily for shallow mineralisation from about 26m to about 52m below surface.