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Newcastle Gold Ltd.
Summary
| Project: | Castle Mountain | |
|---|---|---|
| Deposit: | South Domes | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 8/16/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-8-2016: Newcastle Gold Ltd. announces an Exploration/Drilling Update report for its South Domes deposit at the Castle Mountain project. Drilling results incl. 213.70m @ 1.09g/t Au from 196.90m. NewCastle Gold Ltd. (NCA:TSX-V, the “Company” or “NewCastl | |
| 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-V, the “Company” or “NewCastle”) is pleased to report initial assay results from the first four holes from the Company’s 2016 Phase I drill campaign at the Castle Mountain Gold Project (the “Project”) located in San Bernardino County, California. The drill program (the “Program”) started in mid-June 2016, and has initially focused on the southern portion of the Project known as “South Domes”. This target area hosts a significant portion of the mineral resource that historically had been quantified by shallow vertical reverse-circulation drill holes, rarely extending below 250 metres vertical depth. The current Program uses angled diamond core holes designed to cross-cut the known resource and modeled steep fault structures trending NE-SW. A total of 9,600 metres and 21 holes have been completed to the end of July with three rigs (one reverse circulation (“RC”) drill rig and two diamond core rigs). The program has been increased to 22,000 metres in 54 drill holes and a second RC rig has been added to focus on the Oro Belle mine trend and the East Ridge target. Mineralization encountered in CMM-079 and CMM-080 is associated with vertical hydrothermal breccia on the flanks of a previously unrecognized rhyolite plug and QFP. This setting is very similar to the original Mine Trend area which was the focus of drilling in 2014 and 2015. New mineralization outside the pit shell was also intersected in hole CMM-078 which opens up a new parallel target to the South Domes target. | |
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