Survey to define drill targets at Harts Range

10 December 2024

CASTILLO COPPER LIMITED

("Castillo", "CCZ" or the "Company")

Geophysical Data to define drill targets at Harts Range, Northern Territory

Castillo Copper Limited (LSE: CCZ, ASX: NFM) is pleased to announce that it has signed a contract with New Resolution Geophysics (NRG) to conduct a high-resolution helicopter-borne radiometric and magnetic survey over the Harts Range project, located 140km northeast of Alice Springs in the Northern Territory.

The Harts Range project is highly prospective for uranium, niobium, and heavy rare earth (HRE) mineralisation. This advanced airborne survey aims to accelerate exploration over untested areas of the project and uncover potential extensions to known mineralisation.

The airborne survey has been scheduled to be completed during January 2025.

Highlights:

·    NRG will model and interpret airborne magnetic and radiometric geophysical data at the Harts Range Project, Northern Territory

·    High-resolution, helicopter-borne radiometric and magnetic survey will accelerate exploration over untested areas within the Harts Range project, aiming to identify potential extensions to known uranium, niobium, and rare earth mineralisation

·    Using Xplorer, the most advanced gradient magnetic system, to cover 2,253 line kilometres across tenements EL32513 and EL32046 with unmatched precision and efficiency

·    Results from the survey will be used to define high-priority drill targets or advance ground geophysics

·    The Company will fly the first airborne survey since the mid-1990s over the region and the first high-resolution (50m spaced) survey over the Harts Range project area

·    The survey has been scheduled to be completed in January 2025

Ged Hall, Chairman, commented: "We are pleased to announce that the appointment of New Resolution Geophysics to model and interpret airborne magnetic and radiometric geophysical data across the Harts Range project in the Northern Territory. The data will not only expedite our exploration programs but also ensures we remain thorough and strategic in our approach".

NRG XPLORER SURVEY DETAILS

The helicopter-borne high-resolution radiometric and aeromagnetic survey will cover Harts Range tenements (EL32513 and EL32046), with a detailed line spacing of 50m and a survey altitude of 25-30m, for a total of 2,253 line kilometres (Figure 1). The surveys will be flown in a north-south orientation and flown with an NRG owned AS350-B3 (Squirrel) helicopter (Figure 2).

Radiometric surveys map out the natural spatial distribution of the three radioactive elements (potassium (K), thorium (Th) and uranium (U)) on the earth's surface. The radiometric data will capture and highlight uranium anomalies in untested areas and potential extensions to known mineralisation associated with the pegmatites at Harts Range.

Figure 1: Harts Range heliborne survey flight path map (Source: NRG survey quotation)

Figure 2: NRG owned AS350-B3 (Squirrel) helicopter (Source: NRG survey quotation)

-ENDS-

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About Castillo Copper

Castillo Copper Limited is an Australian-based focussed explorer, with a strategy to develop multi-commodity assets that demonstrate future potential as an economic mining operation. Through the application of disciplined and structured exploration, Castillo Copper has identified assets deemed core and is actively progressing these interests up the value curve. Current focus will be on advancing exploration activity at the Harts Range Niobium, Uranium and Heavy Rare Earths Project which is circa 120km north-east from Alice Springs in the Northern Territory.

Other interests include the NWQ Copper Project, situated in the copper-belt district circa 150km north of Mt Isa in Queensland and the Broken Hill Project in western New South Wales.

Castillo Copper is listed on the LSE under the ticker "CCZ" and ASX under the ticker "NFM".