Vancouver, British Columbia--(Newsfile Corp. - October 31, 2014) - Castle
Resources (CSE: CRI) is one of the latest new listings on the Canadian Securities
Exchange. Concurrent with its new CSE listing, the company has de-listed from
the TSX Venture Exchange. Castle is a Toronto-based junior mineral development
company focusing on high-quality, advanced projects.
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Management's goal is to continue
the redevelopment of the past producing Granduc Copper Mine which is located
approximately 40 kilometres north of Stewart, British Columbia, and covers a
total land area of approximately 33,400 acres. The property is a copper
volcanogenic massive sulphides deposit that was mined between 1970 and 1984 by
Newmont, then Esso Minerals Canada.
The mine was closed in 1984 due to low copper prices. The
property was acquired from Bell Resources in 2010 and is 100% percent owned by
Castle Resources.
Exploration and drilling completed by Castle Resources since
2010 includes more than 62,000 metres and focused on updating and expanding the
NI 43-101 resource. Castle has increased the resource to 1.8 billion pounds of
copper, with gold, silver, and magnetite credits. Rehabilitation of the 17
kilometre haulage tunnel was completed in August 2012. Intersected copper
mineralization 600 metres below previous mine workings.
In February 2013, the company completed a Preliminary Economic
Assessment which is available for viewing on the company's website. Several
exploration targets on the property have been identified and are drill ready for
future development.
The company currently has 201.6 million shares outstanding. For
more information, please visit the company's website castleresources.com,
or contact Lenny Foreht, VP Corporate Development at 416-366-4100 or by email
lforeht@castleresources.com.
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