- Castle Minerals (CDT) identifies a gold corridor during a soil sampling program at its Beasley Creek project in Western Australia
- 480 samples were collected, with values peaking at 202 ppb gold and samples above 50 ppb gold, which the company said is “well above” background levels
- CDT identified multiple anomalies within a 1.5-kilometre-wide north-northwest trending corridor observable from an aeromagnetic survey
- Planning is underway for infill soil sampling to better define targets in anticipation of a planned reverse circulation drill program
- Shares have been trading 9 per cent higher at 1.2 cents at 10:15am AEST
Castle Minerals’ (CDT) soil sampling program at its Beasley Creek project in Western Australia has identified a gold corridor.
The project is located in the Pilbara region of WA and the company has been working to define structurally controlled gold targets within the various Archean sequences of the area.
During first-pass exploration activities, CDT collected 480 samples which returned a peak value of 202 parts per billion (ppb) gold with other samples recording above 50 ppb gold, which the company said is “well above” background levels.
The sample lines were located mainly in the Beasley Central area, at 80 metre intervals on 400 metre-spaced lines.
CDT is encouraged by the most recent samples, which it said identified multiple anomalies within a 1.5-kilometre-wide north-northwest trending, structurally-related corridor observable from an aeromagnetic survey.
Several anomalies have been identified close to mineralised drainages noted in a prior bulk stream sediment sampling program, which CDT said validates its strategy of targeting structurally-controlled orogenic-style gold mineralisation.
Additionally, CDT identified scattered anomalous copper, zinc, nickel and platinum values that it plans to check and follow-up as warranted.
Results are also pending from a second phase of reconnaissance soil sampling completed over western and eastern zones within the older Archean stratigraphy and outside of the inferred gold corridor.
Moving forward, the company is planning infill soil sampling to better define targets in anticipation of a planned reverse circulation drill program.
Managing Director Stephen Stone said Castle is also finalising plans for diamond core holes which will be co-funded under the GSWA Exploration Incentive Scheme.
He said three 250 metre diamond core holes will provide important stratigraphic and structural information within the older Archean terrane.
Shares were trading 9 per cent higher at 1.2 cents at 10:15am AEST.