2013-02-27 12:02:27 - - 1.5 km long EM conductor above Tide Tunnel 4 km east of Granduc Main Zone
TORONTO, ONTARIO -- (Marketwire) -- 02/27/13 -- Castle Resources Inc. (TSX VENTURE:CRI) ("Castle" or the "Company") is pleased to provide investors with the exciting findings of a recent 3D geophysical analysis conducted on Castle's entire land package in northwest B.C., anchored by the past producing Granduc Copper Project.
"This latest analysis of electro-magnetic work on our land package in northwest B.C. has indicated some very exciting drill targets," stated Mr. Mike Sylvestre, President & CEO of Castle Resources. "These very conductive zones indicate a larger area of potential mineralization not previously recognized."
Preliminary 3D inversion modeling and interpretation of the 2010 airborne Aeroquest AeroTEM III geophysical survey data by the consulting firm Caracle Creek International Consulting Inc, made the following observation concerning two new electro-magnetic (EM) conductive bodies, known as the North EM Zone and Tunnel EM Zone (see Figure 1 for EM locations in relation to the Granduc Copper Project).
North EM Zone:
An extensive conductor has been identified along the southern face of the area roughly 3.5 km north east of the JK Zone (termed the North EM Conductor). This feature trends north-south, exhibits a conductivity greater than 13 mS/m and extends over a strike length exceeding 2 km, dipping approximately 15 degrees to the south. This feature extends to surface at location (NAD 83 UTM Zone 9) 419235 E, 6234560 N, and the majority of the feature begins 200 m below surface, representing a potential near-surface drill target. This conductive feature is located within a magnetic low and bounded to the east by a magnetic high (0.01 nT). (Figure 2)
Tunnel EM Zone:
A moderate EM conductor (5-7 mS/m) has been modeled at 10 km along the Tunnel (as measured from the eastern portal entrance). This conductive feature trends north-south over a 1.2 km strike length and is positioned 200 - 400 m above the tunnel itself. The feature dips approximately 30 degrees to the northeast and has been modeled as doubly-plunging to the southeast (20 degrees) and northwest (25 degrees). This conductive feature is located within a magnetic low (less than 0.002 nT). (Figure 3)
"These massive geophysical anomalies will be drill tested this field season," stated Mr. Brad Leonard, Castle's Exploration Manager. "The 2 km long north EM conductor north east of the JK Zone appears to be related to the South Unic Shear Zone, which has been interpreted to represent a major disconformity between the older Triassic rock that host the Granduc deposit and the younger Jurassic rocks that are host to many of the gold deposits in the Stewart area including Pretivm, Scottie Gold, and Eskay Creek."
About Castle Resources
Castle is a Toronto-based junior mineral development company focusing on high-quality, advanced projects. Management's goal is to continue the redevelopment of the 100% owned past producing Granduc Copper Project near Stewart B.C. For more information please visit the Castle Resources' website at www.castleresources.com.
Certain statements contained in this news release may contain forward-looking information within the meaning of Canadian securities laws. Such forward-looking information is identified by words such as "estimates", "intends", "expects", "believes", "may", "will" and include, without limitation, statements regarding the company's plan of business operations (including plans for progressing assets), estimates regarding mineral resources, projections regarding mineralization and projected expenditures. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, risks inherent in the mining industry, financing risks, labour risks, uncertainty of mineral resource estimates, equipment and supply risks, title disputes, regulatory risks and environmental concerns. Most of these factors are outside the control of the company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
This news release does not constitute an offer to sell or solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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Castle Resources Inc.
President & CEO
Castle Resources Inc.
VP Corporate Development
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