Castle Resources Inc.

September 08, 2011 06:00 ET

Castle Resources Intersects 3.17% Copper Over 8 Meters at Depth at Granduc Copper Project

- GD11-16 Intersects High-Grade VMS Lens at Depth Confirming Significant Mineralization Occurs 600 Meters Below Historic Mining Zones

- Recent Assays Continue to Demonstrate Widespread Copper, Gold and Silver Mineralization at the Granduc

TORONTO, ONTARIO--(Marketwire - Sept. 8, 2011) - Castle Resources Inc. (TSX VENTURE:CRI) ("Castle" or the "Company") is pleased to announce its second positive set of drill assay results from the ongoing 35,000 meter surface exploration program at the Granduc Copper Project located near Stewart, B.C.

"Drill assays continue to identify high-grade copper mineralization along the combined Main and South Zone strike," stated Mr. Mike Sylvestre, President & CEO of Castle Resources. "In particular, we are very impressed with the results of GD11-16 which confirms historical assumptions that high grade copper mineralization occurs down to sea level, over 600 meters below historic production zones. This deep hole is important as it clearly reveals Granduc mineralization is open at depth and increasing in grade."


Hole Start (m) End (m) Width (m) % Cu Au (g/t) Ag (g/t) %Fe
GD11-16 682 690 8 3.17 0.37 7.50 11.98
inc 686 690 4 5.40 0.65 13.00 16.40

Hole GD11-16 successfully tested the deeper portion of the Main Zone mineralization approximately 100 to 200 m above sea level. The high grade intersection appears to be the highest grade and the deepest intersect of the program to date and confirms that the Main Zone mineralization may be further encountered at elevations at sea level or below. All assay results to date continue to demonstrate high grade copper mineralization downdip of the historic Main Zone production zones and along strike on the South Zone (see attached location map). Castle has completed over 50 holes of its 60+ hole step out and expansion drilling program and aims to complete the surface program at the Granduc by the end of September.

Granduc Drilling Results - 2011 Surface Program
Results for GD11-06, GD11-07, GD11-08, GD11-09, GD11-10, GD11-12, GD11-14 and GD11-16
Note: all widths are downhole thickness, core intersection thicknesses may not represent true thickness
Hole Start (m) End (m) Width (m) % Cu Au (g/t) Ag (g/t) %Fe
Complete Assays (1)
GD11-06 173.25 187 13.75 1.27 0.13 6.96 16.55
inc 178.25 183.25 5 1.81 0.18 9.68 18.58
and 199.9 226.5 26.6 1.12 0.12 4.29 11.56
inc 199.9 208.5 8.6 1.92 0.22 8.35 15.95
Complete Assays (1)
GD11-07 233.25 241.25 8 1.21 0.14 6.75 20.45
inc 233.25 237.25 4 1.96 0.22 9.90 23.35
Complete Assays
GD11-08 380 390 10 1.68 0.71 53.14 12.61
inc (2) 383.3 390 6.7 2.09 0.96 74.29 12.78
and 412 420 8 1.05 0.14 8.50 24.12
inc 417 420 3 3.00 0.18 11.20 13.70
Complete Assays (1)
GD11-09 415.5 426 9.5 1.01 0.14 7.09 13.92
and 444 450 6 0.80 0.10 6.83 30.40
Complete Assays
GD11-10 570 578 8 1.53 0.28 12.70 8.31
Complete Assays
GD11-12 540 556 16 0.33 7.64 4.50 0.06
Complete Assays
GD11-14 171 181 10 1.27 0.17 18.86 11.00
inc 177 181 4 2.09 0.33 32.30 17.16
Complete Assays
GD11-16 682 690 8 3.17 0.37 7.50 11.98
inc 686 690 4 5.40 0.65 13.00 16.40
(1) Holes GD11-06, GD11-07, GD11-09 partially released July 27, 2011
(2) Note sample 134082 from GD11-08 ran 3% Cu, 4.3 g/t Au, 400 g/t Ag and 12.8% Fe

Brad Leonard, P. Geo., Castle's Exploration Manager, is the Qualified Person responsible for the scientific and technical work (as defined under National Instrument 43-101) discussed in this press release, and has reviewed this press release. Castle implemented a QA/QC protocol for all its exploration and diamond drilling program on the Granduc.

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 Mine and begin new exploration activities; as well, management is advancing the Elmtree Gold Project in New Brunswick toward feasibility in 2011. Castle currently has $7 million in its treasury and has issued and outstanding shares of 106 million. For more information please visit the Castle Resources' website at


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.

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