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.
|Castle Minerals Ltd||CDT||$0.024||118.18%||24,766,128|
|Petrel Energy Ltd||PRL||$0.015||50%||5,627,752|
|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|