Duncastle Gold Corp.

Duncastle Gold Corp.

December 15, 2009 13:04 ET

Duncastle Acquires High-Grade Silver, Gold and Copper Prospects at Porphyry Creek

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2009) - Duncastle Gold Corp. (TSX VENTURE:DUN)(FRANKFURT:5D3) reported today that it acquired through staking two high-grade silver, gold and copper prospects adjoining the southeast boundary of its existing 100% owned Porphyry Creek project 20 kilometres northwest of Smithers in northwest British Columbia.

The new claims total 814 hectares in a highly prospective area and include two significant silver/gold/copper occurrences, being the Sultana prospect and the MT showing, along with several others. Historic results are available in the public database:

  • Historic work on the Sultana prospect includes 11 bulldozer trenches which exposed a silver-bearing vein over 16 metres and an area of fractured granodiorite mineralized with chalcopyrite. Assays of the silver-bearing vein averaged included:
    • 2,057g/t Ag, 7.5g/t Au and 0.5% Cu over 2.7m from Trench 6 and
    • 621g/t Ag and 1.93% Cu over 3.6m in Trench 5.
  • Historic drilling on the Sultana prospect totaled nine drill holes and 557 metres. Four holes included anomalous precious and base metal values over a 46 metre strike length, including the following intercepts from drill hole S1:
    • 638g/t Ag, 1.03g/t Au and 9.06% Cu over 0.6m and
    • 199g/t Ag, 0.69g/t Au and 0.64% Cu over 0.9m.
  • Select rock grab samples from the MT showing near the headwaters of Corya Creek returned:
    • 5,187g/t Ag and 2.34% Cu in one sample
    • 1,817g/t Ag, 23.0g/t Au and 1.09% Cu in a second, and
    • 2,846g/t Ag, 5.1g/t Au and 3.65% Cu in a third.

Historical results are compiled from government databases and predate NI 43-101. Duncastle has not independently verified past exploration results.

The historic exploration results summarized above corroborate well with recorded small-scale production data from the area as well as with Duncastle's surface exploration work which returned dump and talus samples with 2,566g/t Ag, 11.1% Pb, 19.4% Zn and 0.86g/t Au in one sample and 1,131g/t Ag, 4.9% Pb, 4.1% Zn, 0.42g/t Au in a second sample from the Brunswick adit. A massive sulphide boulder from the Brian Boru prospect returned 152g/t Ag, 4,955g/t Cu and 14.3% Zn, while another sample from the area returned 22.3% Zn. An updated map summarizing historic and 2008 data is available on Duncastle's website at www.duncastlegoldcorp.com.

The Porphyry Creek project provides the company with an 86 square kilometre land package in a second highly prolific mineral district in British Columbia; eleven large porphyry or porphyry-style copper-gold, copper-molybdenum, molybdenum, and molybdenum-tungsten deposits occur within a 150 km radius of the property. Regional stream sediment samples demonstrate the property to be among the highest potential in British Columbia for iron-oxide-copper-gold-(IOCG)-type deposits (BC Government report, 2001). In addition, the Brunswick, Brian Boru, and newly acquired Sultana and MT occurrences highlight a number of high-grade polymetallic targets over a large area on the property.

2010 Exploration Plan
Stream sediment sampling completed in 2008 indicated strong Ag and Cu anomalies in two prominent drainages within the property and generally showed a strong spatial association with known mineral occurrences. Exploration plans for 2010 will follow the recommendations of the 2008 report including an airborne geophysics program to further delineate the magnetic anomaly associated with the iron-oxide-copper-gold-(IOCG) target cited in BC Government work. Further ground-based exploration work later in the year is also recommended, and, contingent upon results from earlier work, a possible drill program later in the year.

About Duncastle Gold
Duncastle Gold Corp. is a mineral exploration company based in British Columbia, Canada with projects in both northwestern and southeastern BC. The Yankee-Dundee project comprises 26 crown grants under a 100% option agreement and 95 tenured mineral claims totaling approximately 5,987 hectares in the Nelson Mining District, located three kilometres northeast of the town of Ymir in southeastern British Columbia. Gold mineralization was first reported near Ymir in the late 1800s, with much of the mining taking place at the Yankee Girl, Dundee and Ymir mines during the period 1907 to 1951. Historical records indicate that a total of 375,000 tonnes grading 9.9g/t Au and 57g/t Ag were mined from the Yankee Girl vein during this time. Exploration by the company is targeting high-grade Au-quartz veins throughout the Ymir district which historically, together with the adjacent Sheep Creek district is reported to have produced more than one million ounces of gold¹. The Ymir camp was the largest silver producer in the British Commonwealth in the 1930s (BC MEMPR Bulletin 109, 2001). In northwest B.C. the company has the 8,641 hectare Porphyry Creek property in the Rocher Deboule Mountains near Smithers, with a porphyry or IOCG copper-gold target and high-grade silver-gold-copper prospects. Duncastle Gold Corp is a Manex Resource Group company.

Rob Macdonald, (P.Geo.), is the Qualified Person responsible for reviewing the technical results in this release.

On behalf of the Board of Directors,

Lawrence Page, Q.C., President, Director, Duncastle Gold Corp.

¹ Production data was obtained from historical government records and has not been independently verified by the current operators of the project.

This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Duncastle Gold Corp. relies upon litigation protection for forward looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information