Castle Resources Releases Final 2011 Assay Results for Granduc Copper Project
12.01.2012 | Marketwire
- Final Assays Confirm 2011 Granduc Drill Program a Major Success- New NI 43-101 Resource Estimate Due End of January
TORONTO, ONTARIO -- (Marketwire - Jan. 12, 2012) - Castle Resources Inc. (TSX VENTURE: CRI) ("Castle" or the "Company") is pleased to announce its final positive set of drill core assay results from the 30,000 meter 2011 surface exploration program at the Granduc Copper Project located near Stewart, B.C.
New Highlights:
Note: all widths are downhole thickness
Hole Start(m) End(m) Width(m) %Cu Au(g/t) Ag(g/t) %Fe
GD11-28 373 391 18 1.98 0.24 14.38 16.97
inc 376 387 11 2.76 0.31 19.49 17.31
GD11-44 601 612 11 2.11 0.23 20.66 11.69
GD11-35 401.05 416.63 12.58 1.56 0.16 17.57 10.04
inc 404.63 410 5.37 2.13 0.29 24.84 15.05
"This final batch of Granduc assay results once again confirms the continuity of copper mineralization over a 1.2 km strike length," stated Mr. Mike Sylvestre, President & CEO of Castle Resources. "The overall success of the program continues to reinforce the potential resource upside of the Granduc. With all 2011 drill results completed, Castle is now focused on completing an updated NI 43-101 resource estimate, currently being compiled by SKR Consulting (Vancouver), to be released later this month."
Castle completed a 58 hole expansion drilling program in 2011 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 the 2011 drilling was focused on defining the potential copper mineralization in the South Zone. As previously press released, South Zone assays results clearly show high grade mineralization extending over 600 meters on strike and to the south of the Main Zone (see press release dated July 27, 2011) and 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 hole.
Granduc Drilling Results - 2011 Surface Program
Complete Assays for Holes GD11-17, GD11-20, GD11-24, GD11-26, GD11-27, GD11-28, GD11-29, GD11-35, GD11-38, GD11-43, GD11-44, GD11-45, GD11-46, GD11-51, GD11-56, GD11-NZ02 GD11-NZ-003B & GD11-NZA001
Note: all widths are downhole thickness
Hole Start(m) End(m) Width(m) %Cu Au(g/t) Ag(g/t) %Fe
Complete Assays
GD11-17 424 428 4 0.61 0.12 4.30 9.38
and 486 490 4 1.02 0.13 5.60 8.80
Complete Assays
GD11-20 555.8 564.1 8.3 0.63 0.10 9.93 10.04
and 608.7 611.6 2.9 2.14 0.36 5.00 6.39
Complete Assays
GD11-24 367.5 380 12.5 0.85 0.22 7.60 12.65
and 397 404 7 0.91 0.10 7.46 27.70
and 439.5 444 4.5 1.09 0.13 6.73 5.87
Complete Assays
GD11-26 673 677 4 1.04 0.15 19.85 21.46
Complete Assays
GD11-27 432 447 15 0.74 0.10 11.44 25.44
Complete Assays
GD11-28 324 340 16 0.72 0.14 6.50 9.29
and 344 363 19 1.10 0.01 7.15 23.82
and 373 391 18 1.98 0.24 14.38 16.97
inc. 376 387 11 2.76 0.31 19.49 17.31
Complete Assays
GD11-29 497 506 9 0.72 0.08 9.34 8.50
Complete Assays
GD11-35 246.3 254 7.7 0.75 0.11 3.07 9.38
and 262 268.23 6.23 1.17 0.15 6.74 24.84
and 366.37 369.75 3.38 1.37 0.18 16.10 15.93
and 388 392.48 4.48 1.01 0.11 7.61 39.97
and 401.05 416.63 12.58 1.56 0.16 17.57 10.04
inc. 404.63 410 5.37 2.13 0.29 24.84 15.05
Complete Assays
GD11-38 177.97 200 22.03 0.72 0.08 4.93 14.60
and 316 320 4 1.07 0.12 12.23 29.38
and 332 343 11 1.61 0.18 18.75 11.68
Complete Assays
GD11-43 597 603 6 0.88 0.09 14.60 16.48
and 615 619 4 0.78 0.11 4.28 9.87
Complete Assays
GD11-44 587 598 11 1.09 0.12 11.13 8.04
and 601 612 11 2.11 0.23 20.66 11.69
inc. 606 612 6 2.60 0.29 24.73 13.96
Complete Assays
GD11-45 515 519 4 0.63 0.10 5.93 12.23
and 562 566 4 1.31 0.12 10.17 10.08
Complete Assays
GD11-46 130.85 142 11.15 1.51 0.12 17.94 8.71
inc. 138 142 4 2.19 0.12 25.03 10.93
Complete Assays
GD11-51 304 309 5 1.82 0.49 18.20 25.57
and 319 324.16 5.16 1.04 0.25 7.07 14.97
and 429 442 13 0.98 0.11 10.77 29.21
and 445 454 9 1.85 0.28 22.19 9.09
Complete Assays
GD11-52 576 588 12 1.63 0.22 14.75 9.59
inc. 577 582 5 2.22 0.27 13.42 11.00
and 614 621 7 0.81 0.06 2.41 6.74
Complete Assays
GD11-NZ-02 562 572 10 1.05 0.11 1.54 12.05
and 582 589 7 1.69 0.19 5.64 23.81
inc. 582 585 3 2.57 0.27 10.43 23.37
and 665 672 7 0.73 0.12 3.27 5.04
Complete Assays
GD11-NZ-003B 728 732 4 0.92 0.10 4.28 5.20
and 741 745 4 1.77 0.26 4.85 8.18
and 757 771 14 1.28 0.18 6.17 5.64
inc. 757 761 4 2.06 0.36 7.88 6.83
Complete Assays
GD11-NZ-A001 510.5 524 13.5 1.65 0.19 2.47 10.16
inc. 519 524 5 2.67 0.23 5.34 12.33
and 529 535 6 1.98 0.48 4.27 22.05
Assays for GD11-32, GD11-37, GD11-41, GD11-42, GD11-48 & GD11-54 did not report similar copper values as those contained in the table above
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. Part way through the drilling program, EcoTech Laboratories were taken over by ALS Chemex. Preparation of the pulps continued at the EcoTech prep facility, but all pulps were then sent by courier and all analytical work was conducted by ALS Chemex at their lab facilities in Vancouver. The rejects are stored at the EcoTech prep facility in Stewart. All samples were prepared 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.
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 all its exploration and diamond drilling program on the Granduc.
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. 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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