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Castle Minerals doubles in value after snapping up Pilbara gold interests

The company has made an opportunistic transition into the Pilbara.
Castle Minerals doubles in value after snapping up Pilbara gold interests
The top performing stocks intra-day

Castle Minerals Ltd (ASX:CDT) is dialled into one of the hottest exploration post codes in Australia, the Pilbara in Western Australia.

The region is not just about iron ore, with recent gold discoveries re-invigorating exploration in the region.

Castle shares have soared 118% to $0.024 in early trade, with 25 million changing hands.

The company has secured the rights to acquire an 80% interest in two adjacent exploration licence applications encompassing the prospective basal conglomerate horizon of the Hardey Formation.

There is considerable geological conjecture as to the origin of paleo-placer gold in the Pilbara region.

It is known to occur in the Hardey conglomerate and/or a stratigraphically lower conglomerate horizon occurring at the base of the Mt Roe basalt itself.

These occurrences are distinct from gold associated with other styles of mineralisation such as epithermal quartz vein hosted gold.

The next exploration steps by Castle will be closely watched by investors.

Company Name Code Last Change Volume
Castle Minerals Ltd CDT $0.024 118.18% 24,766,128
Petrel Energy Ltd PRL $0.015 50% 5,627,752
Invion Ltd IVX $0.004 33.33% 2,000,000
Lepidico Ltd LPD $0.016 33.33% 115,932,744
Laneway Resources Ltd LNY $0.004 33.33% 1,000,000
Clancy Exploration Ltd CLY $0.004 33.33% 7,388,137
Resource Mining Corporation Ltd RMI $0.009 28.57% 80,885
Hill End Gold Ltd HEG $0.140 27.27% 3,182,578
Venus Metals Corporation Ltd VMC $0.120 26.32% 1,279,911
Norwest Energy NL NWE $0.005 25% 2,100,000

 





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