Duncastle Acquires High-Grade Silver, Gold and Copper Prospects at Porphyry Creek
December 15 2009 - 1:04PM
Marketwired
Duncastle Gold Corp. (TSX VENTURE: DUN)(FRANKFURT: 5D3) reported
today that it acquired through staking two high-grade silver, gold
and copper prospects adjoining the southeast boundary of its
existing 100% owned Porphyry Creek project 20 kilometres northwest
of Smithers in northwest British Columbia.
The new claims total 814 hectares in a highly prospective area
and include two significant silver/gold/copper occurrences, being
the Sultana prospect and the MT showing, along with several others.
Historic results are available in the public database:
- Historic work on the Sultana prospect includes 11 bulldozer
trenches which exposed a silver-bearing vein over 16 metres and an
area of fractured granodiorite mineralized with chalcopyrite.
Assays of the silver-bearing vein averaged included:
-- 2,057g/t Ag, 7.5g/t Au and 0.5% Cu over 2.7m from Trench 6
and
-- 621g/t Ag and 1.93% Cu over 3.6m in Trench 5.
- Historic drilling on the Sultana prospect totaled nine drill
holes and 557 metres. Four holes included anomalous precious and
base metal values over a 46 metre strike length, including the
following intercepts from drill hole S1:
-- 638g/t Ag, 1.03g/t Au and 9.06% Cu over 0.6m and
-- 199g/t Ag, 0.69g/t Au and 0.64% Cu over 0.9m.
- Select rock grab samples from the MT showing near the
headwaters of Corya Creek returned:
-- 5,187g/t Ag and 2.34% Cu in one sample
-- 1,817g/t Ag, 23.0g/t Au and 1.09% Cu in a second, and
-- 2,846g/t Ag, 5.1g/t Au and 3.65% Cu in a third.
Historical results are compiled from government databases and
predate NI 43-101. Duncastle has not independently verified past
exploration results.
The historic exploration results summarized above corroborate
well with recorded small-scale production data from the area as
well as with Duncastle's surface exploration work which returned
dump and talus samples with 2,566g/t Ag, 11.1% Pb, 19.4% Zn and
0.86g/t Au in one sample and 1,131g/t Ag, 4.9% Pb, 4.1% Zn, 0.42g/t
Au in a second sample from the Brunswick adit. A massive sulphide
boulder from the Brian Boru prospect returned 152g/t Ag, 4,955g/t
Cu and 14.3% Zn, while another sample from the area returned 22.3%
Zn. An updated map summarizing historic and 2008 data is available
on Duncastle's website at www.duncastlegoldcorp.com.
The Porphyry Creek project provides the company with an 86
square kilometre land package in a second highly prolific mineral
district in British Columbia; eleven large porphyry or
porphyry-style copper-gold, copper-molybdenum, molybdenum, and
molybdenum-tungsten deposits occur within a 150 km radius of the
property. Regional stream sediment samples demonstrate the property
to be among the highest potential in British Columbia for
iron-oxide-copper-gold-(IOCG)-type deposits (BC Government report,
2001). In addition, the Brunswick, Brian Boru, and newly acquired
Sultana and MT occurrences highlight a number of high-grade
polymetallic targets over a large area on the property.
2010 Exploration Plan
Stream sediment sampling completed in 2008 indicated strong Ag
and Cu anomalies in two prominent drainages within the property and
generally showed a strong spatial association with known mineral
occurrences. Exploration plans for 2010 will follow the
recommendations of the 2008 report including an airborne geophysics
program to further delineate the magnetic anomaly associated with
the iron-oxide-copper-gold-(IOCG) target cited in BC Government
work. Further ground-based exploration work later in the year is
also recommended, and, contingent upon results from earlier work, a
possible drill program later in the year.
About Duncastle Gold
Duncastle Gold Corp. is a mineral exploration company based in
British Columbia, Canada with projects in both northwestern and
southeastern BC. The Yankee-Dundee project comprises 26 crown
grants under a 100% option agreement and 95 tenured mineral claims
totaling approximately 5,987 hectares in the Nelson Mining
District, located three kilometres northeast of the town of Ymir in
southeastern British Columbia. Gold mineralization was first
reported near Ymir in the late 1800s, with much of the mining
taking place at the Yankee Girl, Dundee and Ymir mines during the
period 1907 to 1951. Historical records indicate that a total of
375,000 tonnes grading 9.9g/t Au and 57g/t Ag were mined from the
Yankee Girl vein during this time. Exploration by the company is
targeting high-grade Au-quartz veins throughout the Ymir district
which historically, together with the adjacent Sheep Creek district
is reported to have produced more than one million ounces of
gold(1). The Ymir camp was the largest silver producer in the
British Commonwealth in the 1930s (BC MEMPR Bulletin 109, 2001). In
northwest B.C. the company has the 8,641 hectare Porphyry Creek
property in the Rocher Deboule Mountains near Smithers, with a
porphyry or IOCG copper-gold target and high-grade
silver-gold-copper prospects. Duncastle Gold Corp is a Manex
Resource Group company.
Rob Macdonald, (P.Geo.), is the Qualified Person responsible for
reviewing the technical results in this release.
On behalf of the Board of Directors,
Lawrence Page, Q.C., President, Director, Duncastle Gold
Corp.
(1) Production data was obtained from historical government
records and has not been independently verified by the current
operators of the project.
This News Release may contain forward-looking statements
including but not limited to comments regarding the timing and
content of upcoming work programs, geological interpretations,
receipt of property titles, potential mineral recovery processes,
etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties.
Actual results may differ materially from those currently
anticipated in such statements. Duncastle Gold Corp. relies upon
litigation protection for forward looking statements.
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.
Contacts: Duncastle Gold Corp. Jeff Stuart 1.888.456.1112 or
604.641.2771 Duncastle Gold Corp. Ran Davidson 1.888.456.1112 or
604.641.2771 corpdev@mnxltd.com www.duncastlegoldcorp.com