Castle Minerals Announcements
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High Grade Gold Horizon Defined at Bundi Prospect
Dear MvM Commodity Group
Castle Minerals Limited (ASX:CDT) is pleased to announce that analysis of individual metre intervals of RC drilling at the Company’s Bundi prospect has defined a high grade gold and zinc horizon over at least 1100m strike that significantly upgrades the resource potential of the Bundi prospect.
Castle’s Managing Director, Mr Mike Ivey said, “This is a very positive outcome for Bundi, the horizon identified may represent the distal portion of a VMS (volcanogenic massive sulphide) horizon and provides considerable scope for the definition of a high grade gold and or zinc deposit.”
Bundi is part of Castle’s 100% owned Wa Project in north-west Ghana. Significant intercepts from the gold/zinc horizon at Bundi include;
2m @ 7.87g/t gold and 0.15% Zn from 40m 13SWRC028
3m @ 6.01g/t gold and 1.04% Zn from 40m 13SWRC027
3m @ 3.19g/t gold and 1.20% Zn from 25m 13SWRC026
2m @ 9.11g/t gold and 1.36% Zn from 68m 13SWRC032
Key observations from the mineralisation intersected to date include:
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Host rock is a quartz-sericite schist (metamorphosed felsic volcanic?) within a sequence of Birimian metasediments
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Linear, continuous vertically dipping zone that may represent the distal portion of a volcanogenic massive sulphide horizon
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Sulphide assemblage is represented by fine to coarse grained disseminated and banded pyrite-pyrrhotite-sphalerite. Pyrrhotite is magnetic providing a useful exploration targeting tool
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Strong gold zinc correlation.
Low in copper and arsenic
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The mineralisation may represent a new style of gold/zinc sulphide deposit for the Birimian of West Africa
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Bundi is a virgin discovery made by Castle in an area concealed by a thin veneer of transported sediments
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Castle is the sole landholder in the area as part of its 10,000km2 Wa Project. The area is flat and sparsely populated and is easily accessed from the regional town of Bole 40km south east
The gold/zinc metal association is unusual for Biriminan rocks in West Africa and the geological model will be refined as the project advances. Castle is now planning geophysical surveys to test for the occurrence of massive sulphides and extensions to the gold mineralisation at Bundi. Bundi is a grassroots gold discovery in a previously unexplored area. RAB drilling is still ongoing in the area and results will be reported upon receipt.
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