TORONTO, ONTARIO--(Marketwire - Oct. 10, 2012) - Castle Resources Inc. (TSX VENTURE:CRI) ("Castle" or the "Company") is pleased to provide investors an update on operations at the Granduc Copper Project near Stewart, British Columbia.
"I am pleased to report the completion of a very successful operating field season at the Granduc Copper Project," stated Mr. Mike Sylvestre, President & CEO of Castle Resources Inc. "We achieved all of our objectives, notably completing a significant 24,000 metre drill program, furthering underground rehabilitation and comprehensive baseline environmental data collection. Our efforts continue to underscore the past producing Granduc is a fast growing high-grade copper story, with robust infrastructure in place in a mine-friendly jurisdiction."
24,000 Meter Drilling Program Completed:
Castle's surface program was initiated in late May and was completed in early Sept. It was a two-part program, focused on; A) completing drilling on the South Zone, an area of rich mineralization that was initially drilled in 2011, and B) expanding the North Zone inferred copper resource identified by historical drilling and three positive 2011 holes.
South Zone drill targets were specifically focused on increasing the density of drilling at depth where several 2011 holes had encountered wide intersections of above average (1.26% Cu) copper grades. Initial assay results already published (see Castle press release dated July 16, 2012) confirm this trend continues. In addition, South Zone drilling focused on shallow, closer to surface targets, notably areas of mineralization above the current NI 43-101 compliant resource. Assays results from these holes are to be made public in the coming weeks.
North Zone drilling was focused on gaining a much better understanding of the orientation and potential size of copper mineralization first discovered by the previous operators of the Granduc mine, but which was never fully explored or delineated. A program of systematic step-out holes was completed this year, begun where successful 2011 Castle drilling encountered high-grade intersects and continued northward at roughly 100 metre centers, testing both shallow and deeper targets. Assay results from this later stage program will be published in the coming months.
Castle again engaged Procon Mining & Tunneling to continue work in the mine, following the successful rehabilitation of the 17 km long haulage tunnel in 2011. The scope of Procon's contract was to recondition workings on the main 2600 level, remove sections of old rail, establish drainage, install ventilation, communications and power.
Diversified environmental baseline studies have been in progress this year at the Granduc, with a focus on geochemistry, water quality, hydrology, fisheries and aquatic biota, social, and economic disciplines, to name a few. The bulk of the environmental program work is expected to occur in 2013. It is anticipated that Castle's Granduc Copper Project will likely enter the B.C. Environmental Assessment process in Q4 of 2012.
About Castle Resources
Castle is a Toronto-based junior mineral development company focused on the exploration and redevelopment of the 100% owned past producing Granduc Copper Mine. Castle currently has 173 million shares outstanding.
For more information please visit the Castle Resources' website at www.castleresources.com.
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