NewCastle Gold releases assay results from California’s Castle Mountain project

7 February 2017 (Last Updated February 7th, 2017 18:30)

NewCastle Gold has announced assay results of its new drilling activity on the South Domes area at Castle Mountain gold project in San Bernardino County, California, US.

NewCastle Gold releases assay results from California’s Castle Mountain project

NewCastle Gold has announced assay results of its new drilling activity on the South Domes area at Castle Mountain gold project in San Bernardino County, California, US.

The company is currently conducting a 40,000m Phase II definition and exploration drill programme that started on 1 November last year.

Eleven drill holes have been completed on South Domes area to date.

The new drilling targeted the quartz-feldspar porphyry body and associated mineralised hydrothermal breccias, which were identified on this section during the 2016 Phase 1 drill campaign.

The company reported the assay results of the first four reverse circulation drill holes drilled on the cross-sections 10600N and 10570N.

Section 10600N intersected 1. 07g/t Au over 67.1m, in hole CMM-132 that includes 2.91g/t Au over 12.2m, while section 10570N intersected 1. 25g/t Au over 94.5m, in hole CMM-128 that comprises 3.37g/t Au over 15.2m.

NewCastle Gold president and CEO Gerald Panneton said: “I am very encouraged with the ongoing exploration success at South Domes, which already contained in-pit resources of 1.3 million ounces within the 4.2 million ounce measured and indicated resource (2015 43-101).

“New drilling continues to confirm the high-grade nature (+1.0g/t Au) of the gold mineralisation and its association with previously unrecognised breccia and intrusive bodies.

“We will continue to extend this exciting target with additional drilling on trend to the south and north as the mineralisation is open in all directions.”

As of 31 January, the current programme has completed 13,000m of core and RC drilling.

"New drilling continues to confirm the high-grade nature of gold mineralisation and its association with previously unrecognised breccia and intrusive bodies."

NewCastle holds complete ownership of this Castle Mountain property.

This property has produced more than one million ounces of gold from 1992 to 2004.

According to the updated NI 43-101 resource for the project, the Castle Mountain property hosts measured mineral resources of 17.4 million tonnes grading 0.86g/t gold and containing 480,000oz. While indicated mineral resources were 202.5 million tonnes grading 57g/t of gold containing 3.71 million ounces of the metal.

The mine contains inferred mineral resources of 40.8 million tonnes grading 0.58g/t gold and containing 760,000oz of gold.


Image: Map of South Domes. Photo: courtesy of NewCastle Gold.