Castle Resources: Step-Out Holes Intersect New Copper Mineralization at Granduc Copper Project, B.C
03.12.2012 | Marketwire
- Positive drill assay results confirm historic North Zone mineralized strike length of 600 meters- GD12-NZ-04 intersects 21 meters of 1.58% Cu, including 8 meters of 2.05% Cu
- GD12-NZ-07 intersects 9.1 meters of 2.17% Cu, including 4.2 meters of 3.40% Cu
TORONTO, ONTARIO -- (Marketwire) -- 12/03/12 -- Castle Resources Inc. (TSX VENTURE: CRI) ("Castle" or the "Company") is pleased to announce positive North Zone drill core assay results from the recently completed surface exploration program at the Granduc Copper Project located near Stewart, B.C.
"We are very pleased with these results as they represent the first extensive exploration drilling conducted in decades on the Granduc's highly prospective North Zone," stated Mr. Brad Leonard, Castle's Exploration Manager. "High grade copper intercepts have expanded the North Zone strike to over 600 meters, strongly indicating that the North Zone has the potential to be much larger than the current NI 43-101 inferred resource estimate." (see SEDAR technical report filed April 14, 2011).
Interest in the North Zone was started by Newmont in 1977 and was continued by Esso in 1982, notably with the driving of the northern exploration drift from the main operating level of the mine. The drilling campaign by Esso in 1982 outlined 2 zones of copper mineralization, termed Zone 1 and Zone 2. Copper mineralization in the form of chalcopyrite in Zone 1 occurs as coarse disseminations and local semi massive sections within a magnetite iron formation/deep marine sediment-volcaniclastic host, which exhibits strong similarities to the main Granduc deposit. Zone 2 which lies east of Zone 1 exhibits a different style of mineralization. Chalcopyrite, pyrite and pyrrhotite occur as disseminations and stringers in an altered biotitic, volcanic tuff host rock, mostly without magnetite. The style of mineralization exhibited by Zone 2 possesses strong characteristics of a feeder zone, which may mean that the source of the Granduc deposit could be related to Zone 2.
Granduc 2012 North Zone Drilling Results
Complete Assays
Note: all widths are downhole thickness
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Hole Start (m) End (m) Width (m) % Cu Au (g/t) Ag (g/t) %Fe
GD12-NZ-01 311.5 316 4.5 1.85 0.21 11.20 8.21
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GD12-NZ-03 592 615.8 23.8 1.22 0.11 2.74 19.74
inc. 604 613 9 1.55 0.17 3.23 20.32
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GD12-NZ-04 802.5 823.5 21 1.58 0.25 4.18 5.12
inc. 803.5 811.5 8 2.05 0.20 3.98 5.45
inc. 816 822 6 1.98 0.50 8.33 6.69
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GD12-NZ-06 542 547 5 1.77 0.13 4.62 7.25
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GD12-NZ-07 775.4 784.5 9.1 2.17 0.45 8.10 6.89
inc. 778.4 782.6 4.2 3.40 0.72 13.54 8.78
and 794.9 802.5 7.6 1.38 0.15 7.19 4.36
and 811.5 822 10.5 1.22 0.18 5.37 4.60
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GD12-NZ-08B 656 664 8 1.04 0.09 3.14 15.91
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GD12-NZ-11 890 906 16 1.36 0.21 6.29 5.53
inc. 890 902 3 2.87 0.43 14.77 7.99
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GD12-NZ-13 293 298 5 0.95 0.15 0.72 8.10
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GD12-NZ-16 641 650.5 9.5 0.89 0.12 3.10 8.10
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GD12-NZ-19 358.45 368 9.55 1.00 0.12 2.36 14.94
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GD12-NZ-20 638 671 33 1.05 0.14 3.02 13.08
inc. 638 646 8 1.67 0.23 5.41 11.12
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GD12-NZ-22 810 817 7 1.20 0.14 5.06 6.84
and 849 858.6 9.6 1.56 0.16 5.08 5.33
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GD12-NZ-23 572.5 582.7 10.2 1.16 0.15 3.41 10.91
and 650.75 657 6.25 1.33 0.18 5.71 6.76
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GD12-NZ-25 564 575 11 1.34 0.17 1.97 15.45
inc. 570 574 4 1.96 0.31 3.38 20.38
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Note: No reportable copper mineralization encountered in GD12-NZ Holes 2, 5, 10, 12, 14, 15, 17, 18, 21, 24
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. In 2012, all drill hole collar locations were recorded with an APS instrument involving a differential GPS calculation within 1 metre positional accuracy and 2 to 5 metre vertical accuracy. All drill holes were surveyed down hole for azimuth and dip corrections using the Reflex Gyro downhole instrument, which prevented survey deviations due to magnetic affects from either the drill casing/rods or rock types. 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 sent to Agat Laboratories preparation facility, a certified sample preparation facility located in Terrace B.C. Samples were crushed, pulped and screened to 75 mesh. The 250 g pulps were then sent by courier to the main Agat laboratory facility in Mississauga, ON for assay, while the rejects were temporarily stored at the Agat facility in Terrace. Following completion of the 2012 drilling program, all rejects were shipped back to and are stored at the Secure Morecore facility in Stewart. All samples were analyzed through an aqua-regia digest and analyzed through a 45 element ICP/MS package and 30 gram gold fire assay with an ICP-OES 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 20th sample as well as after a sample which contained significant visible sulphides. Sample standards were inserted at the nominal rate of 1 in every 35th sample (alternating between OREAS_50c OREAS_54p, OREAS_153a and OREAS 96). Every 50th 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. A duplicate sample was selected by splitting the half core into quarter sections. The duplicate samples were collected every 50th sample at opposite intervals to the referee samples. 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. Referee and duplicate samples were to be treated as regular samples, but were to be noted as either duplicate or referee samples on the drill logs. 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 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.
About Castle Resources
Castle is a Toronto-based junior mineral development company focused on the exploration and redevelopment of the 100% owned past producing Granduc Copper Mine. Castle currently has 173 million shares outstanding shares. 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- ol 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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Contacts:
Castle Resources Inc.
Mike Sylvestre, President & CEO
416-366-4100
msylvestre@castleresources.com
www.castleresources.com
Castle Resources Inc.
Lenny Foreht, VP Corporate Development
416-366-4100
lforeht@castleresources.com