- 17.59 g/t gold over 9.1 metres - below
current in-pit resources –
VANCOUVER, Sept. 22, 2016 /CNW/ - NewCastle Gold Ltd.
(TSX-V: NCA) ("NewCastle" or the "Company") is pleased to
report additional assay results from seven reverse circulation
("RC") drill holes from the Company's ongoing 22,000 metre Phase I
drill campaign at the Castle Mountain oxide gold project (the
"Project") located in San Bernardino
County, California. The drill program (the "Program")
continues to target the strike and depth extensions to the main
mineral resource along the Oro Belle Trend ("OBT"). The OBT is one
kilometre wide by two kilometres long and remains open to the
northeast and at depth (Sections 11400N to 13500N).
(Photo: http://photos.prnewswire.com/prnh/20160921/410440)
Oro Belle South - BC Target
Assay highlights have been received for seven additional RC
holes located 150 metres north and 150 metres south of the
previously released, northwest-southeast oriented, 11550N core
cross-section across the BC Target (see press release dated
September 6, 2016). New results
from Oro Belle South include:
- 3.70 grams per tonne gold ("g/t Au") over 50.3 metres, in
hole CMM-087
- including 17.59 g/t Au over 9.1 metres
- 1.54 g/t Au over 37.8 metres, in hole CMM-098
- including 2.72 g/t Au over 18.9 metres, and
- including 15.41 g/t Au over 2.1 metres
- 1.01 g/t Au over 54.9 metres, in hole CMM-088
- including 6.43 g/t Au over 3.0 metres
- 0.74 g/t Au over 48.8 metres and 0.37 g/t Au over 56.4
metres, in hole CMM-097
- 0.43 g/t Au over 45.7 metres, in hole CMM-099 (within JSLA
pit back-fill)
President and CEO Gerald Panneton
commented "Another round of very good drill results is
indicating that the geological model developed by our technical
team has been highly successful. The presence of high-grade gold
mineralization 100 metres below the currently modeled pit will have
a positive impact in the follow-up drill program planned for our
pre-feasibility study, which will focus on the southern part of the
OBT. The current program is indicative of the excellent potential
to improve the grade and continuity, and also to increase the
resource potential near the current pit limits for future
planning."
The presence of disseminated and fracture-controlled gold
mineralization in the seven RC holes at the BC Target continues to
support the association of gold within near-vertical
quartz-feldspar porphyry intrusive bodies aligned along major
structural corridors, with proximal hydrothermal fluid breccias
that host the gold mineralization. Hole CMM-087 was designed
to test the depth extension of the modeled northeast
trending/southeast dipping OB-3 structural domain below the modeled
resource pit and intersected 17.59 g/t Au over 9.1 metres
along this structure, approximately 100 metres below the pit bottom
within brecciated rhyolite. The OB-3 structure remains
open in all directions.
Table 1: Summary of Significant 2016 Drill Hole Intercepts
from the Oro Belle South - BC Target
|
Hole_ID
|
Section
|
From
(metres)
|
To
(metres
|
Interval
(metres)
|
Au
(g/t)
|
CMM-087
|
11400N
|
32.0
|
35.1
|
3.0
|
0.33
|
and
|
|
47.2
|
56.4
|
9.1
|
0.24
|
and
|
|
342.9
|
393.2
|
50.3
|
3.70
|
including
|
|
362.7
|
371.9
|
9.1
|
17.59
|
including
|
|
362.7
|
367.3
|
4.6
|
33.19
|
including
|
|
362.7
|
364.2
|
1.5
|
73.40
|
CMM-089
|
11450N
|
125.0
|
128.0
|
3.0
|
0.28
|
and
|
|
147.8
|
150.9
|
3.0
|
0.25
|
and
|
|
411.5
|
420.6
|
9.1
|
0.13
|
CMM-090
|
11450N
|
89.9
|
144.8
|
54.9
|
1.01
|
including
|
|
96.0
|
99.1
|
3.0
|
6.43
|
and
including
|
111.3
|
114.3
|
3.0
|
6.43
|
and
including
|
140.2
|
141.7
|
1.5
|
1.40
|
CMM-091
|
11450N
|
306.32
|
309.37
|
3.0
|
0.51
|
CMM-097
|
15575N
|
141.7
|
146.3
|
4.6
|
3.43
|
and
|
|
172.2
|
221.0
|
48.8
|
0.74
|
including
|
|
172.2
|
185.9
|
13.7
|
1.13
|
and
|
|
236.2
|
243.8
|
7.6
|
0.48
|
and
|
|
252.1
|
308.5
|
56.4
|
0.37
|
and
|
|
348.1
|
363.3
|
15.2
|
0.47
|
CMM-098
|
11600N
|
205.1
|
208.2
|
3.0
|
0.34
|
and
|
|
214.3
|
247.8
|
33.5
|
0.37
|
and
|
|
226.5
|
247.8
|
21.3
|
0.47
|
and
|
|
260.6
|
271.4
|
10.8
|
0.30
|
and
|
|
297.3
|
304.5
|
7.2
|
0.20
|
and
|
|
421.8
|
459.6
|
37.8
|
1.54
|
including
|
|
421.8
|
440.7
|
18.9
|
2.72
|
including
|
|
421.8
|
427.0
|
5.2
|
8.74
|
including
|
|
424.9
|
427.0
|
2.1
|
15.41
|
CMM-099*
|
11700N
|
0.0
|
45.7
|
45.7
|
0.43
|
including*
|
|
30.5
|
44.2
|
13.7
|
0.91
|
and
|
|
128.0
|
140.2
|
12.2
|
0.22
|
* Intercept is in
backfill material within historic JSLA open pit.
|
|
For a location map of recent drill holes, please click on this
link: http://www.newcastlegold.ca
For a cross-section of recent drill holes, please click on this
link: http://www.newcastlegold.ca
For a long section of recent drill holes, please clink on this
link: http://www.newcastlegold.ca
All new reported exploration holes were drilled at 290 degrees
azimuth, with dips of -65 to -75 degrees, and to an average depth
of 350 to 600 metres. True widths of the intercepted intervals
cannot be determined from the available geological information.
Approximately 18,500 metres have been completed to date in 44
core and RC holes.
All drill samples are submitted to ALS Minerals in Reno, Nevada for splitting and then crushing
until 70% of the sample is finer than a nominal two millimeter in
size. A 250 g sub-sample is taken from the crushed material and
pulverized until 85% passes a 200 mesh (75 µm) screen (ALS Method
PREP-31). A 30 g sample of pulverized material (pulp) is then
sampled and subjected to fire assay ("FA") with atomic absorption
("AA") finish (ALS Method AuAA-23). Any gold assays greater than 10
g/t Au are re-analyzed where a 30 g sample is taken from the pulp
and assayed by FA with a gravimetric finish (ALS Method Au 30g FA –
GRAV). All samples that yield greater than 0.2 ppm assay are also
analyzed for gold cyanide solubility (ALS Method AuAA-13).
The Company employs an industry standard QA/QC program consisting
of standard pulps, coarse blanks and rig duplicates.
About NewCastle
NewCastle has a 100% interest
in the Castle Mountain property in San
Bernardino County, California. The Castle Mountain heap
leach gold mine produced over one million ounces of gold from 1992
to 2004. The Mine and Reclamation Plan, under which the mine
operated, was authorized by the County of San Bernardino as the Lead Agency and remains
in effect until 2025. Water for the drill programs was accessed
from existing patented wells on the Project. An updated NI 43-101
resource for the project was announced December 2, 2015 which includes Measured Mineral
Resources of 17.4 million tonnes grading 0.86 g/t gold containing
0.48 million gold ounces, Indicated Mineral Resources of 202.5
million tonnes grading 0.57 g/t gold containing 3.71 million gold
ounces along with Inferred Mineral Resources of 40.8 million tonnes
grading 0.58 g/t gold and containing 0.76 million gold ounces.
The Project hosts a disseminated low sulphidation epithermal
system. Gold is primarily hosted by late-stage rhyolite volcanic
units within zones of silicification and brecciation associated
with northeast-southwest trending/southeast dipping fault
structures which are interpreted to have developed within a
collapsed caldera environment. Eleven gold domains are represented
by both steep and shallow-dipping orientations.
Ian R. Cunningham-Dunlop, P.
Eng., the Company's Vice President Exploration, is the designated
Qualified Person for this news release within the meaning of NI
43-101. He has reviewed and verified that the technical information
contained in this release is accurate and has approved of the
written disclosure of the same.
Neither the 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 news release.
Forward-Looking Statements
This news release contains "forward-looking statements" and
"forward-looking information" (collectively, "forward-looking
information") within the meaning of applicable Canadian securities
legislation. Forward-looking information includes information that
relates to, among other things, statements with respect to the
completion of the proposed drill program at Castle Mountain, the
mineral resource expansion at Castle Mountain and the
identification of future expansion targets at Castle Mountain.
Forward-looking information is not, and cannot be, a guarantee of
future results or events.
Forward-looking information is based on, among other things,
opinions, assumptions, estimates and analyses that, while
considered reasonable by us at the date the forward-looking
information is provided, inherently are subject to significant
risks, uncertainties, contingencies and other factors that may
cause actual results and events to be materially different from
those expressed or implied by the forward-looking information. The
material factors or assumptions that we identified and were applied
by us in drawing conclusions or making forecasts or projections set
out in the forward looking information include, but are not limited
to that the Company is able to procure personnel, equipment and
supplies required for its exploration and development activities in
sufficient quantities and on a timely basis and that actual results
will be consistent with management's expectations.
The risks, uncertainties, contingencies and other factors that
may cause actual results to differ materially from those expressed
or implied by the forward-looking information may include, but are
not limited to, the risks discussed under the heading "Risks" in
general to the business of NewCastle in documents filed (or to be filed)
with Canadian regulatory authorities. Should one or more risk,
uncertainty, contingency or other factor materialize or should any
factor or assumption prove incorrect, actual results could vary
materially from those expressed or implied in the forward-looking
information. Accordingly, the reader should not place undue
reliance on forward-looking information. NewCastle does not assume any obligation to
update or revise any forward-looking information after the date of
this news release or to explain any material difference between
subsequent actual events and any forward-looking information,
except as required by applicable law.
SOURCE NewCastle Gold Ltd.