Castle identifies significant new gold

08 September 2007 | 07:34 Code : 15187 Geoscience events
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Regional soil sampling has reported anomalous gold results over 30km of strike....

  Regional soil sampling has reported anomalous gold results over 30km of strike at Castle Minerals’ Ducie Project. This is the first known exploration on the project area.Sampling was conducted on six regionally spaced traverses (3km to 10km apart) and reported a strongly anomalous peak value of 150 ppb gold. Castle said the samples were also being analysed for copper, lead, zinc, arsenic and silver to test the base metal potential of the area. Castle Managing Director, Michael Ivey said the Ducie results highlight the potential of the belt to host gold mineralisation. “The project area is bounded by major regional scale structures that host gold deposits to the north and as such represents a very attractive grass roots exploration target,” Mr Ivey said. The company is planning follow-up sampling over the project for October. A total of 1003 samples were collected from six regionally spaced soil traverses, with samples collected every 100m along the lines. The Ducie licence straddles the Bole-Bolgatanga Fault, which is host to significant gold mineralisation at Bolgatanga and Youga approximately 150km to the northeast. Castle has the right to acquire a 100 percent interest in the project over a three-year period, subject to staged payments being made to the vendors. The option payments are heavily weighted towards the end of the three-year option period

tags: QAZVIN


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