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Newcastle Minerals samples 4.7 g/t Au at Fault Creek
2012-11-07 08:46 ET - News Release
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Mr. Michael Romanik reports
NEWCASTLE PROVIDES UPDATE ON EXPLORATION PROGRAM AT PICKLE LAKE
Newcastle Minerals Ltd. is providing an update on its Pickle Lake exploration program, which has successfully discovered new gold occurrences on the Fault Creek property.
In August, Newcastle shifted its focus from the Southwest Powderhouse area of the extensive property and the area contiguous to PC Gold's property - where it successfully identified gold-hosting structures - to the southern extent of the property, including a historical showing uncovered during compilation of historical data and exploration reports.
After the completion of compilation work, a prospecting and mapping campaign was conducted which included 8 samples taken from the area of the showing, located approximately 1.5 km from Highway 599 in an area of relatively flat ground with outcrop exposure consisting of mostly oxide iron formations, felsic volcanics, tuffs and mafic volcanic flows. Two of the eight samples assayed at 4.72 g/t gold and 1.2 g/t silver, and 1.83 g/t gold and 1.3 g/t silver. The samples were obtained from the south side of Fault Creek, in an area which bore evidence of historic activity. The area consists of well-mineralized oxide iron formations interlayered with felsic tuffs with evident chlorite and carbonate alteration. Quartz veins cross cut the host iron formation in the area and vicinity of these sample locations. In addition, sulphide mineralization occurs as fine disseminations of pyrite and pyrrhotite.
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