Castillo Copper Limited CCZ completes acquisition of Harts Range Project

Dow Jones10-28

c. PNC Exploration (Australia): various open-file tenement annual, final and partial relinquishment reports, 1994 to 1997; Report Numbers CR1994-0325, CR995-0298, CR1995-0525, CR1995-0697, CR-1996-0285, CR1996-0286, CR-1997-0611. *

d. Rutter, H. (Flagstaff Geo Consultants Pty Ltd.) 2006. 'An analysis of airborne radiometric data from the Harts Range, N.T.' (unpublished report)

e. Shaw, R.D., Senior, B.R., Offe, L.A., Stirzaker, J.F., Walton, D.G., Apps, H.E., Freeman, M.J.1:250,000 Geological Map Series Explanatory Notes Illogwa Creek SF53-15. Bureau of Mineral Resources Australia & Northern Territory Geological Survey,1985.

Note: * Open file company reports sourced from the Northern Territory Mineral Industry Reports Management System (IRMS). Available at: https://geoscience.nt.gov.au/gemis/ntgsjspui/handle/1/3

3) Spatial Territory Resource Information Kit for Exploration (STRIKE); NT Government - Department of Industry, Tourism and Trade. Available at: http://strike.nt.gov.au/wss.html

   4)   RIM ASX Release - 11 January 2024

5) CCZ ASX Release - 3 October 2024. Note: Estimated value of $1.6m based on consideration of 40m IMI shares at a price of $0.03 per shares as at 23 October 2024 (i.e. 40m x $0.03 = $1.2m) and 20m 5 year options exercisable at $0.07 cents using the Black-Scholes Option Model (below).

 
 BLACK SCHOLES OPTION MODEL 
 Assumed grant date                   1 November 2024 
                                     ---------------- 
 Assumed expiry date                  31 October 2029 
                                     ---------------- 
 Share price at assumed grant date             $0.030 
                                     ---------------- 
 Exercise price                                $0.070 
                                     ---------------- 
 Risk-free rate                                 3.84% 
                                     ---------------- 
 Volatility                                      100% 
                                     ---------------- 
 Fair value per Option                         $0.019 
                                     ---------------- 
 Total number                              20,000,000 
                                     ---------------- 
 Total fair value                            $386,000 
                                     ----------------

6) Scrimgeour IR, 2013. Chapter 29: Irindina Province: in Ahmad M and Munson TJ (compilers). 'Geology and mineral resources of the Northern Territory'. Northern Territory Geological Survey, Special Publication5.

7) Selway K, Heinson G and Hand M, 2006: Electrical evidence of continental accretion: Steeply dipping crustal-scale conductivity contrast. Geophysical Research Letters 33, L06305, doi:10.1029/2005GL025328.

8) IGO Exploration Activities in Northern Territory. 2024 Annual Report (p.6) IGO ASX Release - 29 August 2024. Available at: https://www.igo.com.au/site/investor-center/annual-reports

About Castillo Copper

Castillo Copper Limited is an Australian-based, Australian-focussed copper exploration Company 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 and analysis, Castillo Copper has identified assets deemed core to the Company's sustained growth and is actively progressing these interests up the value curve.

Current focus will be on advancing exploration activity at the Company's wholly owned NWQ Project, situated in the copper-belt district approximately 150km north of Mt Isa in north-west Queensland.

Other interests include the Broken Hill Project in western New South Wales and the Cangai Copper Mine in north-east New South Wales, as well as exploration targets in Zambia.

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

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

ACQMZMZGRRVGDZG

(END) Dow Jones Newswires

October 28, 2024 04:18 ET (08:18 GMT)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Castillo Copper Limited CCZ completes acquisition of Harts Range Project

Comments