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Castle Minerals makes new gold discovery at Kpali in Ghana

Last updated: 13:20 28 Jan 2014 AEDT, First published: 12:20 28 Jan 2014 AEDT

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Castle Minerals (ASX:CDT) has discovered a new gold zone at the Compa Kpali prospect, within its Wa project, northwest Ghana.

The company completed 16 reverse circulation holes in December 2013, designed to test the 650 metre gold anomaly previously defined via soil geochemistry and rotary air blast drilling.

Numerous significant intercepts included 30 metres at 2.02 grams per tonne gold from 80 metres, with 15 metres at 3.1g/t.

Consistent mineralisation was intersected over 600 metres of strike, which remains open at depth.

These are the best drill results received from the southern part of the Wa project, and enhance the prospectivity of Castle's large unexplored land holding in the area.

A 20,000 metre rotary air blast program is now underway, testing for extensions and repetitions to Kpali and surrounding geophysical targets, with further reverse circulation drilling also proposed.

In addition to the work at Kpali, Castle has completed a reverse circulation drilling program at the 1.1 kilometre long Bundi gold-zinc prospect, 4 kilometres to the northwest.

Initial logging and handheld XRF analysis indicates that the targeted zinc rich horizon was intersected in most holes, with 1% to 3% disseminated sulphides including pyrite, pyrrhotite, sphalerite and chalcopyrite.

Detailed XRF analysis for base metals is underway on site and samples have been sent to a Ghana based laboratory for gold analysis, with results awaited.

Castle is capitalised at around $3 million.

 

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