Castle Minerals Announcements
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New Gold Targets Identified and 25,000m Drill Program Commences
Dear MvM Commodity Group
Castle Minerals Limited (ASX:CDT) is pleased to announce that interpretation of magnetic data from a recently completed helicopter-borne geophysical survey have been received.
This work has identified a distinct NW-SE de-magnetised zone that may have resulted from the destruction of magnetite due to alteration.
This zone is considered highly prospective for gold and base metal mineralisation.
A number of co-incident magnetic and conductivity anomalies have also been identified that represent high priority drill targets.
Castle’s Managing Director Mr Mike Ivey said “in addition to the Bundi and Kpali discoveries we made this year, the identification of this de-magnetised zone provides a new +5km long target zone that will be subject to immediate drill testing and significantly increases the potential for additional gold/zinc discoveries to be made.”
An initial phase of approximately 25,000m of RAB and RC drilling is proposed with RAB drilling underway and RC drilling contracted to start next week. RC drilling will be carried out by Ausdrill Limited’s subsidiary African Mining Services (AMSG). Castle has agreed to issue to Ausdrill, shares for 50% of the drill costs (up to a maximum of USD$150,000 at AUD $0.035 cents).
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New Gold Targets Identified and 25,000m Drill Program Commences |
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