La Fortuna updateCastle Gold Reports Up to 41.1 Grams Per Tonne Gold From Outcrop Samples
posted onOct 01, 09 08:34AM
Castle Gold Reports Up to 41.1 Grams Per Tonne Gold From Outcrop Samples at Its La Fortuna Project, Mexico
TORONTO, ONTARIO - (Oct. 1, 2009) - CASTLE GOLD CORPORATION (Castle Gold, the Company) (TSX VENTURE:CSG)is pleased to announce assay results from the surface mapping andsampling program conducted on it's 100% owned La Fortuna concessionslocated in north west Durango state, Mexico.
A reconnaissancesurface sampling and mapping program commenced on the Company's 10,000hectare concession earlier in 2009. The objective of this program wasto understand the geology and structures outside of the establishedmineralization evident at the La Fortuna mine (National Instrument43-101 compliant Measured and Indicated resource containing 4.8 milliontonnes grading 1.98 grams per tonne gold for a total of 308,000 ouncesof gold - refer to press release dated November 12, 2008) and withinthe Company`s 10,000 hectare mineral concessions. The initial work ofthis first phase exploration program focussed on mapping and samplingroad cuts and outcroppings that appeared to be related to the knowngold mineral resource at the La Fortuna mine.
The best resultfrom this program came from sample FF - 89, located in the Meloncitaprospect (refer to Image 2 - La Fortuna and Extensions Geologic andSample Location Map), south of the La Fortuna mine which assayed 41.1grams per tonne gold. Additional results from this area includedsamples FF - 86 through FF - 90. Anomalously elevated results also camefrom an area to the east, northeast of the La Fortuna mine area,including samples FF - 30 through FF - 36 (refer to Image 2).
Atotal of 136 samples were collected and assayed from a wide rangingarea in the La Fortuna and Extensions area of which 18 are reportedgrading in excess of 0.30 grams per tonne gold, with 12 of thesesamples exceeding 1 grams per tonne gold, and seven of these samplesexceeding 2 grams per tonne gold, and a few key location samplesproviding exceptionally high gold assay results (refer to Table 1below).
Thomas Atkins, President and CEO of Castle Goldcommented on the results from the La Fortuna program stating: "Thereconnaissance program is a first phase program aimed at identifyingareas of future exploration interest. The program was successful inassisting us in determining the geology and structural controls thatappear to produce elevated concentrations of gold, silver and coppermineralization observed to the northeast and south of the La Fortunamine. Hand and channel samples, taken from outcrop and rock exposed inroad cuts, have demonstrated encouraging values of gold, silver andcopper. These results warrant follow-up work to determine the extent towhich known mineral resources at La Fortuna might be enhanced. Thegeological team led by Miguel Cardona, Castle Gold's Manager ofExploration continue to accumulate data from remaining areas of theconcessions and once complete, management intends to press releasethese results and begin planning the next stage of exploration.Subsequent stages of exploration may include diamond drilling to testpriority target areas discovered in this initial reconnaissance work."
Additionalarea of interest observed in this reconnaissance program include, areasnamed Cerro Pelon, Ramada and PN Prospect (refer to Image 1 - LaFortuna Prospect and Concession Map). The Company expects to be in aposition to release results from similar mapping and sampling work onthese areas in the coming weeks.
Table 1
Summary Assay Results - La Fortuna and
Extensions Area
---------------------------------------------
Sample Gold Silver Lead Zinc Copper
Number (gpt) (gpt) (ppm) (ppm) (ppm)
---------------------------------------------
---------------------------------------------
FF - 30 3.05 19.2 187 77 349
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FF - 31 1.69 31.0 147 181 954
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FF - 32 0.74 34.3 553 376 659
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FF - 33 3.98 37.8 1310 70 478
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FF - 34 8.79 93.0 1150 118 529
---------------------------------------------
FF - 35 1.29 16.4 351 447 504
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FF - 36 2.03 47.2 1240 346 3470
---------------------------------------------
FF - 37 0.46 3.9 30 337 2190
---------------------------------------------
FF - 73 0.34 4.7 109 6 50
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FF - 86 6.02 7.3 60 9 24
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FF - 87 3.87 1.8 99 5 8
---------------------------------------------
FF - 88 1.73 4.9 144 23 57
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FF - 89 41.10 20.8 168 15 34
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FF - 90 1.77 2.0 291 14 50
---------------------------------------------
FF - 103 0.51 0.4 0 15 194
---------------------------------------------
FF - 118 0.65 23.4 151 109 657
---------------------------------------------
FF - 135 0.71 4.5 21 19 330
---------------------------------------------
FF - 136 0.84 17.5 94 36 309
---------------------------------------------
---------------------------------------------
gpt equals grams per tonne / ppm equals parts per million
(1000 ppm equals .1%)
Qualified Person Comments/Quality Control Procedures
Thispress release has been reviewed by Mr. Darren Koningen, P. Eng., CastleGold's Vice President Project Development. Mr. Koningen is a QualifiedPerson under National Instrument 43-101. The reconnaissance mapping andsampling program were supervised by Miguel Cardona, Castle Gold'sExploration Manager a BSc geological engineer with over 20 yearsexperience in mineral exploration, project development and resourcecalculation.
At this stage the sampling program was aimed atthe identification of anomalous metal values, alteration patterns andmineralization models. All rock samples were sent for preparation andanalysis to ALS-Chemex Laboratories in Vancouver, Canada. Analysis wascompleted using gold fire assaying with an Atomic AbsorptionSpectroscopy ("AAS") finish as well as geochemical multi-element ICPanalysis. For quality control purposes one gold standard, onezinc-lead-silver standard, one duplicate sample and one blank were alsosubmitted at a minimum of one each per every 50 samples. Cross checkanalysis of pulps at a secondary laboratory will be completed for 5 %of all mineralized samples.
About Castle Gold
CastleGold Corporation is a growth oriented gold producer with projectsfocused in the America's. The Company owns a 100% interest in the ElCastillo gold mine in Mexico and a 50% interest in the El Sastre goldmine in Guatemala. Castle Gold is also advancing exploration anddevelopment work at its La Fortuna gold-silver-copper project in Mexico.
To view Image 1, please visit the following link:
https://media3.marketwire.com/docs/csgimage2.pdf
To view Image 2, please visit the following link:
https://media3.marketwire.com/docs/csgimage2.pdf
TSX-V Trading Symbol: CSG
Total Shares Outstanding: 75.5MM
Fully Diluted: 83.0MM
52-Week Trading Range: C$0.15 - $0.80
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
CONTACT INFORMATION:
Castle Gold Corporation
Thomas Atkins
President and CEO
416 214 4809 or Toll Free: 1 866 646 3274
or
Castle Gold Corporation
Rory Quinn
Manager Investor and Public Relations
416 214 4809 or Toll Free: 1 866 646 3274
Fax: 416 366-7421
info@castlegoldcorp.com
https://www.castlegoldcorp.com