Castle Resources Announces Impressive 1st Results from 2012 Campaign at the Granduc Copper Project
July 16 2012 - 6:00AM
Marketwired
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
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GD12-02 550.5 558 7.5 1.97 0.20 23.61 9.36
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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
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GD12-06 68.84 77.24 8.4 2.56 0.27 23.91 28.64
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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.
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.
Contacts: Castle Resources Inc. Mike Sylvestre President &
CEO 416-366-4100msylvestre@castleresources.com Castle Resources
Inc. Lenny Foreht VP Corporate Development
416-364-2266lforeht@castleresources.com www.castleresources.com