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Newcastle Gold Ltd.
Summary
| Project: | Castle Mountain | |
|---|---|---|
| Deposit: | JSLA pit | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 6/20/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-6-2017: Newcastle Gold Ltd. announces an Exploration/Drilling Update report for its JSLA pit deposit at the Castle Mountain project. Drilling results incl. 155.4m @ 0.46g/t Au from 0m. Toronto, Ontario, June 20, 2017 − NewCastle Gold Ltd. (NCA:TSX) (“N | |
| Resources: | (Resource): 17.4Mt @ 0.86g/t Au (Meas.), 202.5Mt @ 0.57g/t Au (Ind.) and 40.8Mt @ 0.58g/t Au (Inf.) | |
| CP/QP: | [Overall Report]: Ian R. Cunningham-Dunlop (Internal) | |
| ABSTRACT: | Toronto, Ontario, June 20, 2017 − NewCastle Gold Ltd. (NCA:TSX) (“NewCastle Gold” or the “Company”) is pleased to report new assay results from the upper portions of the additional drilling in the JSLA open pit area at the Castle Mountain gold project (the “Project”) located in San Bernardino County, California. These results are for the holes that penetrated the backfill in the former JSLA pit, and form part of the Phase II definition drill program (the “Program”) in the JSLA pit area, that totaled 111 holes/39,700 metres of reverse circulation (“RC”) and diamond core drilling. The JSLA pit, mined from 1991-1996, was subsequently backfilled with blasted Run-of-Mine (“ROM”) ‘waste’ and was below the historical cut-off grade of 0.5 grams per tonne gold (“g/t Au”) material from the later mined Jumbo and Oro Belle pits, located to the north. The Company will be required to remove part of this material in its initial pre-stripping activity and is currently assessing the viability of processing some, or all of it as described further below. Gerald Panneton, President and CEO commented: “We are very pleased with the additional results obtained in the upper portions of the drilling through the JSLA backfill. With all 60 holes drilled through the backfill, we have been able to demonstrate the potential of a substantial volume of low-grade material, which would be part of the pre-stripping activities in a potential start-up. With the completion of these 60 holes, we are planning to include a ‘target potential’ resource for the backfill supported by metallurgical work that is scheduled for release at the same time as our mineral resource update in September of this year.” Results from the remaining 22 RC and core drill holes of the 60 hole program reported today were drilled through, or near the JSLA backfilled pit. The Company targeted areas under the existing 2015 mineral resource, on approximately 100-200 foot centers. Assaying the upper part of these holes that penetrated the backfill material was also carried out and complements the 242 short 10m vertical rotary drill holes that were completed by the Company in January-February 2016 (see press release by the Company dated April 3, 2017). | |
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