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CASTLE MINERALS LIMITED - ASX: CDT
The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.
Description
Castle Minerals Limited is a gold exploration Company with six project areas covering more than 12,000km² in Ghana West Africa.
The Akoko Project consists of two granted Prospecting Licences and is located ~10 km east of Adamus Resources' Salman gold project and 40km south of the Prestea gold mine.
Exploration by Castle has resulted in the definition of a JORC Code compliant resource estimate for the Akoko Project totalling 2Mt @ 1.6g/t gold for 102,000 ounces.
The Akoko Project is located 25km south of Tarkwa in south west Ghana in the prolific gold producing Ashanti belt. Gold mineralisation was first discovered on this greenfields project by Castle in late 2007. Since that time Castle has undertaken seven RC drill programs and defined substantial oxide gold mineralisation. Runge Limited completed an independent resource estimate for the Akoko South and Akoko North gold deposits and estimated a total Indicated and Inferred Mineral Resource of 102,000 ounces.
The Akoko gold resources have excellent potential to be substantially increased. Potential for additional oxide mineralisation exists along strike of each deposit and testing for primary mineralisation has yet to be undertaken.
Additionally a number of soil anomalies remain untested including a significant anomaly straddling a granite greenstone contact that has reported soil values up to 25 g/t gold.
Antubia Project
Antubia is located approximately 370km west-northwest of Accra, in the Sefwi gold belt and is ~90km southwest of the 16Moz Ahafo gold mine operated by Newmont.
The Antubia area has not been significant in terms of large-scale gold production in Ghana. However, the Antubia mine is one of the few historic mines in Ghana to have produced over 15,000oz of gold.
Banso Project
Banso is located approximately 180km northwest of Accra, in the Ashanti gold belt. It is ~20km west of Newmont's 8Moz Akyem gold mine and ~10km east of AngloGold Ashanti's 50Moz Obuasi gold mine.
Castle has completed detailed soil sampling, pitting and two drilling programs over the Banso prospect and intersected gold mineralisation over a 3km east west trending zone.
A soil sampling program has been completed on the Anweaso and Fereso Licences testing the south western area of the project close to the Ashanti belt margin. A total of 1,202 soil samples were collected and submitted for analysis. Results are expected in early June 2007.
Bondaye Project
The Bondaye Project is located 265km west of Accra, centred about 12km south of the Prestea mine-site and 75km northwest of Takoradi, the capital of the Western Region. The project lies within the Wassa West and Nzima East Districts of the Western Region. The project consists of one Reconnaissance Licence under Application that covers about 44km².
Opon Mansi Iron Ore Deposit
The Opon Mansi Project consists of one Prospecting Licence application located ~120 km north of the port city of Takoradi in south west Ghana.
In March 2008 Castle lodged an application over the Opon Mansi lateritic iron ore deposit in south west Ghana. The Opon Mansi iron ore deposits are located on the top of a range of hills that extend from Opon Valley in the south towards Dunkwa in the north.
Subsequent to the application being lodged Castle applied for and received, a permit from the Ghana Minerals Commission to conduct due diligence, including validation of the historic drill data, over the Opon Mansi deposit.
The Due Diligence Permit is for an initial six month period but can be renewed. The Permit is subject to monthly reporting to the Minerals Commission and other conditions normal for exploration activities in Ghana.
The Permit allows for pitting, trenching and drilling and other forms of exploration activity. The Permit does not confer ownership rights but provides an opportunity to complete exploration and due diligence whilst Castle's Prospecting Licence application is considered.
On completion of the due diligence Castle intends to make a formal presentation of results to the Ghana Minerals Commission in support of its existing application. If the results are positive Castle intends to apply for a Mining Lease over the deposit.
Wa Project
The Wa Project is situated in NW Ghana near the border with Burkina Faso and consists of the Wa, Jang and Wonachiyiri Reconnaissance Licences and the Julie West and Kandia Prospecting Licence applications.
The Wa Project was acquired in November 2007 and in 2009 the Jang and Wonachiyiri RLs were applied for covering a total area of more than 12,000 km².
The 0.3Moz Julie gold deposit is located within an excised portion of the Wa Project and the 0.7Moz Kunche and Bepkong gold deposits are located 50km north.
In 2009 Castle discovered and defined a near surface JORC Code compliant Resource Estimate of 56,000 ounces for the Julie West deposit comprising 415,000 tonnes @ 4.2g/t gold from the natural surface to 80m.
Mine For
gold
Location of operation(s)
Ghana
Address
6/1 Clive St
WEST PERTH, WA, AUSTRALIA
Phone
(61 8) 9322 7018
Website
Last Updated
20/7/2011
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.
