CAP Castle Peak Mining Ltd

Castle Peak Mining Ltd. ('Castle Peak' or the 'Company') (TSX VENTURE:CAP), is
pleased to report geochemical results from 1,978 auger samples taken from the
Company's Akorade project in the southern Ashanti belt in Ghana, West Africa.
Results represent approximately 80% of the samples collected to date. These
samples have been collected to evaluate the next phase of drill targeting for
the ongoing exploration program. Highlights include:




--  Sampling from the Kedadwen concession returned a 3,000 metre ('m') x
    250m east-northeast trending anomaly with two sub parallel anomalies in
    addition to intersecting north trending anomalies; 
--  The Asuogya-Ayiem concessions returned numerous northerly trending
    anomalies that will require additional sampling on 50m x 10m spacing to
    further define mineralized trends; 
--  Sampling on the Dompem concession defined a north-east trending anomaly
    (1,200m x 75m). 



A total of 1,978 samples have been analyzed with 182 returning results greater
than 50 parts per billion ('ppb) gold ('Au'). Overall results ranged from
background (less than 10 ppb Au) to a high of 1,115 ppb Au or 1.11 grams per ton
('g/t') Au. Additional assay results are pending for additional samples on the
Ayiem, Kedadwen and Dompem concessions. Please refer to
http://www.castlepeakmining.com/i/pdf/May302011_NR.pdf to view figures
referenced below.


Kedadwen Trends

To date, results from 528 of 544 samples collected on Kedadwen have been
received, ranging from detection limit (10 ppb Au) to 1,115 ppb Au, with 65
samples or 12% returning greater than 50 ppb Au. The main Kedadwen auger anomaly
is defined by an east-northeast trending greater than 50 ppb Au that has a
strike extent of 3,000m and is 250m wide. A sub-parallel anomalous zone, limited
by sampling, occurs approximately 600m south of the main anomaly. Three
northerly trending anomalies occur within the sampled area and have varying
strike extents of 400m to 1,200m. Two of these anomalies intersect the main
anomaly (Figure 1).


Asuogya-Ayiem Trends

To date, results from 907 of 1,087 samples collected on Ayiem have been
received, ranging from detection limit (10 ppb Au) to 1,060 ppb Au, with 46
samples or 5% returning greater than 50 ppb Au. Results have confirmed historic
sampling trends to the north and north-northwest (Figure 2). Additional auger
sampling on tighter line and sample spacing will be required to refine larger
anomalous areas defined by gold assays returning greater than 20 ppb gold and
trends defined by assays greater than 50 ppb Au.


Dompem Trends

To date, results from 543 of 769 samples collected on Dompem have been received,
ranging from detection limit (10 ppb Au) to 430 ppb Au, with 71 samples or 13%
returning greater than 50 ppb Au. The western-most anomaly is 1,200m x 75m, and
is defined by a approximately 100 ppb Au anomaly within a 20 ppb anomaly. The
eastern north-south anomaly is defined by a 100 ppb anomaly within a 30 ppb
anomaly with a strike extent of 2300m and an average width of 150m (Figure 3).


Geophysics

In addition to the auger sampling, Castle Peak has now completed the previously
announced 3,425 kilometre ('km') VTEM/magnetic/radiometric airborne geophysical
survey over its entire approximately 200 square km land package. Data collection
is complete, and preliminary interpretation is on-going. This survey will
enhance target generation and compilation by providing an initial interpretation
of the underlying geology and structure of this key land position in the
southern Ashanti gold belt. This will be the first modern compilation of the
geology at a concession and prospect level for this highly prospective land
package.


Qualified Person

Castle Peak's technical disclosure in this news release has been reviewed and
approved by Darren Lindsay, P.Geo., Castle Peak's President and CEO, who serves
as a Qualified Person under the definition in National Instrument 43-101 ('NI
43-101'). Mr. Joe Amanor and Mr. John Coates of SEMS Exploration Services Ltd.
in Accra, Ghana have reviewed and approved the technical information in this
news release and serve as Qualified Persons for the Castle Peak exploration
program. The quality assurance and quality control procedures are being
established by Mr. Coates of SEMS Exploration Services. The procedures include
the systematic insertion of blanks, standards and duplicates into the sample
stream either in the field or at the lab; samples are placed in sealed bags and
are delivered to Intertek Mineral Services (previously Transworld) Laboratories
in Tarkwa, Ghana. The Akorade project is an early stage exploration project and
does not contain any mineral resources as defined by NI 43-101.


About Castle Peak

Castle Peak Mining Ltd. is a Canadian-based exploration and development company
focused on advancing greenfields and early stage gold projects. The Company
holds a strategic land package in the Ashanti belt adjacent to several producing
gold mines in Ghana, West Africa. The Ashanti belt is known as one of the most
prolific gold belts in the world with over 150 million proven ounces uncovered
and current investment in excess of $2.5 B USD. Castle Peak is now executing an
aggressive Phase I exploration program on identified gold targets. 


On behalf of the Board of Castle Peak Mining Ltd.:

Darren Lindsay, President and Chief Executive Officer

FORWARD-LOOKING STATEMENTS

Except for statements of historical fact, this news release contains certain
'forward-looking information' and 'forward-looking statements' within the
meaning of applicable securities laws. Such forward-looking statements are based
on the opinions and estimates of management at the date the statements are made,
and are subject to known and unknown risks, uncertainties and assumptions that
could cause actual results to vary materially from the anticipated results or
events predicted in these forward-looking statements, including, among others,
pending results from additional sampling, future exploration and sampling
programs, and interpretation of the airborne survey results, as well as those
risk factors identified in the Company's Filing Statement filed under the
Company's SEDAR profile. As a result, readers are cautioned not to place undue
reliance on these forward-looking statements. The forward-looking statements
contained in this news release are made as of the date of this release. Except
as required by applicable law, Castle Peak disclaims any intention and assumes
no obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.

Castle Peak Mining (TSXV:CAP)
Historical Stock Chart
From Jun 2024 to Jul 2024

Castle Peak Mining (TSXV:CAP)
Historical Stock Chart
From Jul 2023 to Jul 2024