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Newcastle Gold Ltd.
Summary
| Project: | Castle Mountain | |
|---|---|---|
| Deposit: | Oro Belle | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 4/10/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-4-2017: Newcastle Gold Ltd. announces an Exploration/Drilling Update report for its Oro Belle deposit at the Castle Mountain project. Drilling results incl. 29.0m @ 31.19g/t Au from 222.5m. NewCastle Gold Ltd. (NCA:TSX) (NewCastle Gold or the “Company” | |
| Resources: | (Resource): 17.4Mt @ 0.86g/t Au (Meas.), 202.5Mt @ 0.57g/t Au (Ind.), 40.8Mt @ 0.58g/t Au (Inf.) | |
| CP/QP: | [Overall Report]: Ian R. Cunningham-Dunlop (Internal) | |
| ABSTRACT: | NewCastle Gold Ltd. (NCA:TSX) (NewCastle Gold or the “Company”) is pleased to report material assay results from definition drilling of the JSLA pit on the southern portion of the Oro Belle Trend (“OBT”) at the Castle Mountain gold project (the “Project”), located in San Bernardino County, California. These results form part of the Phase II definition and exploration drill program (“the Program”) that commenced November 1, 2016. Reverse circulation (“RC”) drill hole CMM-195 was planned to follow up on high-grade gold mineralization at the Lucky John Zone, initially discovered by the Company in 2014, which returned encouraging values in RC drill holes CMM-054. The Lucky John Zone/OB-2 area is open along strike to the north and south and at depth, while the new FW Zone lies well outside and start 50m below the 2015 modeled mineral resource and pit shell in an area of very sparse drilling, and is open in all directions. Gerald Panneton, President and CEO commented: “Our focused definition/exploration strategy has been extremely effective in demonstrating that the higher grade near-vertical zones are more predictable than 2 anticipated, and could be an important component of the significant upside potential of this deposit. In addition, the new Footwall discovery opens up new possibilities to expand the deposit immediately below and along strike from the JSLA pit and Oro Belle South. Due to the nature of this new discovery, and the OB-2 sub-vertical structure at Lucky John, we are expanding our drilling immediately to follow up on these exciting new targets.” | |
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