Castle Resources Continues to Intersect High-Grade Copper Across a 1.2 km Strike Length at the Granduc Copper Project
10.11.2011 | Marketwire
- GD11-33 Intersects 15 Meters of 1.91% Cu and GD11-39 Intersects 18 Meters of 1.58% Cu Beneath Granduc Mine Workings on the Main Zone- New Granduc Assay Results Currently Being Entered Into an Updated NI 43-101 Resource Estimate To Be Published January 2012
TORONTO, ONTARIO -- (Marketwire - Nov. 10, 2011) - Castle Resources Inc. (TSX VENTURE: CRI) ("Castle" or the "Company") is pleased to announce its fourth positive set of drill core assay results from its recently completed 30,000 meter surface exploration program at the Granduc Copper Project located near Stewart, B.C.
"These new assay results continue to demonstrate the continuity of high-grade copper mineralization along a kilometer+ strike at the Granduc," stated Mr. Mike Sylvestre, President & CEO of Castle Resources. "Not only are these impressive results adding value to a growing database of assays that confirm copper mineralization extends 600 meters to the south of the historic mine workings, but also they are clearly demonstrating that there is a strong possibility of discovering significant additional resources downdip."
Highlights:
Hole Start(m) End(m) Width(m) %Cu Au(g/t) Ag
(g/t) %Fe
GD11-33 345 360 15 1.91 0.23 21.15 11.58
inc 355 360 5 2.42 0.22 24.66 10.32
GD11-31 359.95 371.92 11.97 1.82 0.18 13.44 20.93
inc. 365 370.9 5.9 2.85 0.15 13.29 16.85
GD11-39 416 434 18 1.58 0.20 12.97 25.97
Castle has now completed a 60+ hole expansion drilling program with a focus on testing potential down dip zones identified by SRK Consulting as 'Exploration Potential' and targeting potential non-compliant NI 43-101 historic copper resources down to sea level (see SEDAR July 4, 2010). In addition, a large percentage of this year's drilling was focused on defining the potential copper mineralization in the South Zone. As previously press released, drill core assays results clearly show high grade mineralization extending over 600 meters on strike and south of the Main Zone (see press release dated July 27, 2011) as well as 600 meters down dip to sea level (see press release dated Sept 8, 2011). It is increasingly evident that Granduc mineralization remains open at depth beneath sea level and open along strike to the south, beyond Castle's most southern step-out hole.
Granduc Drilling Results - 2011 Surface Program
Complete Assays for GD11-007, GD11-013, GD11-015, GD11-019, GD11-030, GD11-031, GD11-033, GD11-039
Note: all widths are downhole thickness, core intersection thicknesses may not represent true thickness
Hole Start(m) End(m) Width(m) %Cu Au(g/t) Ag(g/t) %Fe
Complete Assays
GD11-07 233.25 241.25 8 1.21 0.14 6.75 20.45
inc. 233.25 237.25 4 1.96 0.22 9.90 23.35
Complete Assays
GD11-13 403.15 416 12.85 0.75 0.16 7.86 12.14
486.25 489.7 3.45 1.86 0.29 14.04 89.04
Complete Assays
GD11-15 486 495 9 0.64 0.09 3.57 8.66
and 524 533 9 0.72 0.10 14.73 16.27
Complete Assays
GD11-019 267 273 6 0.95 0.11 8.68 9.02
283 289 6 0.77 0.07 4.17 6.97
Complete Assays
GD11-30 82 91 9 1.60 0.19 8.67 13.84
and 107 119 12 1.09 0.17 3.70 10.90
Complete Assays
GD11-031 328 336 8 0.79 0.10 6.93 9.46
and 359.95 371.92 11.97 1.82 0.18 13.44 20.93
inc. 365 370.9 5.9 2.85 0.15 13.29 16.85
and 410.4 420.88 10.48 1.94 0.26 13.65 9.56
Complete Assays
GD11-33 251 256 5 1.38 0.17 5.44 12.66
and 286 304 18 0.79 0.09 8.02 20.29
and 318 330 12 0.75 0.12 8.10 29.20
and 345 360 15 1.91 0.23 21.15 11.58
inc. 355 360 5 2.42 0.22 24.66 10.32
Complete Assays
GD11-39 364 376 12 1.01 0.11 9.72 12.70
and 416 434 18 1.58 0.20 12.97 25.97
inc. 421 426 5 2.86 0.34 16.10 24.61
and 450 455 5 1.45 0.14 6.24 10.82
Brad Leonard, P. Geo., Castle's Exploration Manager, is the Qualified Person responsible for the scientific and technical work (as defined under National Instrument 43-101) discussed in this press release, and has reviewed this press release. Castle implemented a QA/QC protocol for its exploration and diamond drilling program on the Granduc in 2010 and continued the same protocol for the 2011.
QA/QC Protocol
Castle Resources implemented a QA/QC protocol for all its exploration and diamond drilling program on the Granduc. The drilling contractor was Morecore Drilling Services and core diameter was a combination of NQ and thin wall NQ, enabling the possibility for at least two step-downs if ground conditions should require it. All drill hole locations were spotted using a hand-held Garmin GPS receiver with a 2m to 6m accuracy. Following drill hole completion, all drill hole collar locations were surveyed and reported by a certified BC land surveyor. Core was delivered to the secure Core Shack facility located on the property. In addition to recovery and RQD (Rock Quality Designation) data, geologic parameters including lithology, alteration, presence and identification of sulphide mineralization along with other geologic parameters are noted and recorded. Core was marked in one meter intervals for splitting, sampling and assaying, unless geologic data indicate a shorter sample interval. Prior to splitting, all core was photographed. Core splitting was done with a diamond core saw or by manual splitter and 1/2 of the drill core was submitted to EcoTech Laboratories (part of the Stewart Group of Companies), a certified sample preparation facility located in Stewart, B.C., where samples were crushed, pulped and screened to 100 mesh. The pulps were then sent by courier to the main EcoTech laboratory facility in Kamloops, B.C. for assay, while the rejects are stored at the EcoTech prep facility in Stewart. All samples were analysed through an aqua-regia digest and analysed through a 35 element ICP/MS package and gold fire assay with an Atomic Absorption (AA) finish. All sample over-runs through the ICP package automatically were fire assayed with an AA finish.
A QA/QC protocol was followed for the drill core sampling program, which involved inserting sample blanks and standards at regular intervals into the sample stream. Blanks were inserted at the nominal rate of 1 in every 35th sample as well as after a sample which contained significant visible sulphides. Sample standards were inserted at the nominal rate of 1 in every 20th sample (alternating between OREAS_93' OREAS_95 and OREAS_153a). Every 20th sample on odd multiples was selected as a "referee sample" whereby instructions were given to the prep facility to prepare 2 pulps, analyze one and keep the second to be sent to another credited laboratory for verification of results. Three duplicate samples were selected per hole, located in a mineralized zone to assure continuity of higher grade results, where half the core was quartered and sent as a separate sample. Sample tags made of sturdy Tyvek were inserted into each plastic sample bag and securely sealed. The sample number along with the sample interval was recorded on the drill log. The sample interval was recorded in the sample tag book. A 3rd sample tag was stapled into the core box at the end of the sample interval. All core is currently and securely stored in the remote camp location, or at the company's secure core logging facility in Stewart.
About Castle Resources
Castle is a Toronto-based junior mineral development company focusing on high-quality, advanced projects. Management's goal is to continue the redevelopment of the 100% owned past producing Granduc Copper Mine and begin new exploration activities; as well, management is advancing the Elmtree Gold Project in New Brunswick toward feasibility in 2011. Castle has issued and outstanding shares of 115 million. For more information please visit the Castle Resources' website at www.castleresources.com.
Disclaimer
Certain statements contained in this news release may contain forward-looking information within the meaning of Canadian securities laws. Such forward-looking information is identified by words such as "estimates", "intends", "expects", "believes", "may", "will" and include, without limitation, statements regarding the company's plan of business operations (including plans for progressing assets), estimates regarding mineral resources, projections regarding mineralization and projected expenditures. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, risks inherent in the mining industry, financing risks, labour risks, uncertainty of mineral resource estimates, equipment and supply risks, title disputes, regulatory risks and environmental concerns. Most of these factors are outside the control of the company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
This news release does not constitute an offer to sell or solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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Contact Information
Castle Resources Inc.
Mike Sylvestre
President & CEO
416-366-4100
mike@castleresources.com
Castle Resources Inc.
Lenny Foreht
VP Corporate Development
416-644-9003
lforeht@castleresources.com
www.castleresources.com