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Newcastle Gold Ltd.
Summary
| Project: | Castle Mountain | |
|---|---|---|
| Deposit: | South Domes | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 10/4/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-10-2016: Newcastle Gold Ltd. announces an Exploration/Drilling Update report for its South Domes deposit at the Castle Mountain project. Drilling results incl. 135.9m @ 1.73g/t Au from 229.5. Vancouver, B.C., October 4, 2016 - NewCastle Gold Ltd. (TSX-V | |
| 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: | Vancouver, B.C., October 4, 2016 - NewCastle Gold Ltd. (TSX-V: NCA) (the “Company” or “NewCastle”) is pleased to report assay results from the final three drill holes on the South Domes target of the current drill program at the Castle Mountain gold project (the “Project”) located in San Bernardino County, California. Drilling of core hole CMM-111 was designed to test the gold mineralization previously reported in hole CMM-079 (1.09 grams per tonne gold over 213.7 metres - see press release dated August 16, 2016). CMM-111 intersected the mineralization approximately 100 metres down dip below CMM-079, and along the block limit between the Indicated and Inferred categories but within the current 2015 pit shell of the South Domes area. The zone is wide open both to the south and down-dip. Assay highlights on cross-section 10600N across the southern portion of the South Domes target area, and two additional core holes across the northern end over the 621 Target located on section 11050N, or 450 metres further north. Gerald Panneton, President and CEO commented, “The South Domes area is increasingly becoming an important target for resource additions as we are extending mineralization to the south and at depth, and with higher gold grades in comparison to our average mineral resource grade of 0.6 g/t Au. Hole CMM-111 demonstrates the potential to enhance the Measured and Indicated portions of the current mineral resource with gold grades well above 1.5 g/t. Again, angled drilling continues to support the geological model of sub-vertical controls on mineralization which, with improved grade, and potentially a lower strip ratio, should continue to improve the economics of the project.” | |
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