Newcastle Minerals Ltd.
TSX VENTURE : NCM

Newcastle Minerals Ltd.

November 04, 2011 08:06 ET

Newcastle Begins Pickle Lake Prospecting Program

VICTORIA, BRITISH COLUMBIA--(Marketwire - Nov. 4, 2011) - Newcastle Minerals Ltd. (TSX VENTURE:NCM) has engaged Billiken Management to conduct a surface reconnaissance program on Newcastle's Pickle Lake area claims. The 27,000-acre Pickle Lake project is divided into three claim groups known as the Western Claim Group, the Crowshore Patents and the Crowshore North Group. In brief, the work plan is as follows:

Western Claim Group

The Western Claim Group includes the claims recently acquired from Cadillac Ventures, as well as the original Newcastle claims which surround the Central Patricia Mine and cover the Southwest Powderhouse Zone, which adjoins PC Gold's Pickle Crow property.

Historical work on this group includes mapping and sampling in the 1960s and 1970s, and regional drilling by Noramco in the 1980s, which focused on coring within the north-south trending iron formation at regular widely spaced intervals in a reconnaissance style program searching for gold mineralization. Newcastle's drill program in 2010 was successful in demonstrating the possible continuity of mineralization from PC Gold's property, as well as a 15-foot section which averaged 2.63 grams of gold per tonne in the iron formation.

There is significant outcropping of the iron formation in the central to southern claims south toward the Dona Lake Mine, which is located near the southeast tip of this claim group in the same iron formation trend that transects the Newcastle property. There is a showing known as the Fault Creek Showing located in the northeast corner of claim 424956; Newcastle will locate this showing, map and sample it and the prospective areas uncovered near the showing to the north and south as opportunities present themselves. Grab samples from the Fault Creek Showing taken by Central Patricia Gold Mines Limited (1945-1947) assayed up to 1.82 ounces of gold per ton

Crowshore Patents

Newcastle has the option to earn a 90% interest in nine patents – the Crowshore Patents – adjoining PC Gold at the northeast and is located just 1,000 metres from the Albany Shaft. Historical exploration of the Crowshore Patents indicates four gold-bearing zones. Drilling in 1938 traced the A Zone for about 122 meters and yielded gold assays as high as 0.74 ounces of gold per ton. Outcroppings in and around the shaft area will be prospected in detail, as significant gold mineralization has been reported in historical work filings.

Crowshore North Group

The Crowshore North Group comprises 11 claims totaling 2,720 hectares and is owned 100% by Newcastle. The claims cover the stratigraphic extension of the iron formation which is host to three past producing gold mines and multiple gold showings to the southwest of the property. Several areas of interest have been identified from a compilation of historical work on this claim group, which will be prospected, mapped and sampled during this program. Some diamond drilling uncovered interesting gold values and several outcrop samples taken by previous operators warrant follow-up with more modern techniques.

Newcastle's President, Michael Romanik, said "We look forward to receiving the results from the prospecting program to assist in the identification of new gold targets. These targets will be assessed for detailed mapping, ground geophysics and diamond drilling follow-up."

The technical information herein was prepared under the supervision of Mr. Brian Newton, P. Geo., of Billiken Management Services Inc., who acts as Newcastle's Qualified Person as defined by National Instrument 43-101.

Newcastle Minerals Ltd. is a Canadian gold exploration company trading on the TSX Venture Exchange (TSX VENTURE:NCM). The company is advancing its three key properties: the 11,100-hectare Pickle Lake Property in northwestern Ontario, its 6,898-hectare property located in the Swayze greenstone belt of Ontario near Trelawney Mining and Exploration Inc.'s Cote Lake deposit, and its 120-hectare Carscallen Property in the West Timmins area of Ontario.

ON BEHALF OF THE BOARD

Michael Romanik, President

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