Castle Resources Announces Impressive 1st Results from 2012 Campaign at the Granduc Copper Project
July 16 2012 - 6:00AM
Marketwired Canada
Castle Resources Inc. (TSX VENTURE:CRI) ("Castle" or the "Company") is pleased
to announce its first set of drill core assay results from the ongoing surface
exploration program at the Granduc Copper Project located near Stewart, B.C.
"These impressive results once again underscore just how important the Granduc
South Zone has become," stated Mr. Mike Sylvestre, President & CEO of Castle
Resources. "Our goal in the South Zone is to significantly grow resource tonnes
as part of our overall strategy of expanding the inferred resource footprint at
the Granduc."
Granduc Drilling Results - 2012 Surface Program
Complete Assays for Holes GD12-01, GD12-02, GD12-03 & GD12-06
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
GD12-01 262 279.8 17.8 1.28 0.12 5.77 19.76
inc 271.62 277 5.38 1.83 0.2 8.8 36.09
and 289.5 315 25.5 1.81 0.23 7.13 13.99
inc 295.49 311 15.51 2.13 0.29 9.07 16.07
and 397 421.46 24.46 1.40 0.17 10.21 10.2
----------------------------------------------------------------------------
GD12-02 550.5 558 7.5 1.97 0.20 23.61 9.36
----------------------------------------------------------------------------
GD12-03 508 529 21 1.47 0.14 2.08 18.11
inc 515.5 523 7.5 1.94 0.18 2.09 15.86
----------------------------------------------------------------------------
GD12-06 68.84 77.24 8.4 2.56 0.27 23.91 28.64
----------------------------------------------------------------------------
Castle has now completed over 12 holes of its expansion drilling program and
aims to complete the surface program at the Granduc by September. There are
currently 4 drills turning at site with a strategy of a) completing the drilling
on the South Zone begun in 2011, an area of robust mineralization that has
extended the strike of the current resource by over 600 meters to the south of
the historic Granduc orebody, and b) defining the potential copper
mineralization of the North Zone identified by SRK Consulting as 'exploration
potential' (see SEDAR technical report dated April 9, 2012).
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 focused on the
exploration and redevelopment of the 100% owned past producing Granduc Copper
Mine. Castle currently has 147 million shares outstanding. 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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