VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 26, 2010) - Duncastle Gold Corp. (the "Company") (TSX VENTURE:DUN)(FRANKFURT:5D3) reported today that Fugro Airborne Surveys Corp. has completed work on the airborne geophysical survey on its Porphyry Creek project located 20 kilometers northwest of Smithers, in northwest British Columbia.
Preliminary data from the +500 line-km survey has identified at least three significant target areas showing a strong correlation between the electromagnetic, magnetic and radiometric components of the survey and historic and current geological results. Of particular interest is the Sultana prospect where strong EM conductors are associated with historic trench (up to 7.5g/t Au, 2,057g/t Ag and 0.5% Cu over 2.7 meters) and drill results (up to 1.03g/t Au, 638g/t Ag, and 9.06% Cu over 0.6 meters), and circa 1969-70 sampling of altered intrusive by Utah Mines Ltd. which identified a broad 500m x 500m Cu-Mo surface anomaly on the property. Data from the survey is now being processed and interpreted into a final report. Historical results have been compiled from government databases and predate NI 43-101. Duncastle has not independently verified past exploration results.
President Michael Rowley commented: "We are pleased that the airborne survey on the Porphyry Creek project has provided rapid verification and development of targets, even in the preliminary data. The project continues to advance nicely within the framework of a porphyry deposit model that is appropriate to the host rocks and neighbouring mines and deposits. We look forward to building on the historic results at Sultana and other prospects in the coming months."
A ground based geological reconnaissance program, similar to and expanding upon work done by the Company in 2008, will commence in August and focus on verification of the newly identified geophysical anomalies and target definition in preparation for an anticipated fall 2010 drilling program.
The Porphyry Creek project covers over 115 sq km of mineral claims with historic workings and numerous high-grade gold, silver and polymetallic showings around a distinct 10 kilometer long magnetic high with coincident copper, lead and zinc geochemical anomalies shown in government data. Data compilation and modeling by the Company has demonstrated mineral zonation on the property consistent with porphyry style deposits. There are over 20 porphyry discoveries within a 350km radius of the project, including Berg, Bell, Huckleberry, Mt Milligan, and Galore Creek among others, plus other deposit types (eg Eskay Creek).
Duncastle Gold Corp. is a Vancouver based gold exploration company with mineral claims covering or surrounding past producing mines in two historic BC districts. In Southeast BC Duncastle holds a claim block with a focus on the high-grade gold-silver-lead-zinc veins at the former Yankee-Dundee mine, 50 km from the smelter at Trail, BC. In Northwest BC the Company's project covers a 10 km long magnetic anomaly, previous workings, and high-grade precious metal veins on its Porphyry Creek claims. Duncastle has assembled contiguous claim blocks totaling more than 170 sq km in these two productive regions.
As part of the Manex Resource Group, Duncastle benefits from shared expertise in corporate finance, public company administration, investor relations, and the technical and geological services provided for the eight public companies active in North America. Since its formation in 1997, the Manex Group companies have raised over C$250 million in exploration financing.
Robert Macdonald (P.Geo) is the Qualified Person as defined by National Instrument 43-101 for the Porphyry Creek project and has reviewed and approved the technical contents of this release.
On behalf of the Board of Directors,
"Michael Rowley"
Michael Rowley
President, Director, Duncastle Gold Corp.