Duncastle Gold Corp. (TSX VENTURE: DUN)(FRANKFURT: 5D3) reported
today that it has received the consultant's report compiling the
results of the 2009 drill program at its historic and
past-producing Yankee-Dundee project, located three kilometres
northeast of Ymir, in southeastern British Columbia.
Most significantly, the 2009 report highlights the strong
continuity of gold and silver-enriched sulphide mineralization
between previously modeled higher-grade shoots such that a single,
more continuous zone, known as Yankee Girl West, can now be defined
along the western projection of the Yankee Girl structure. Drilling
has extended the strike of this zone to approximately 285 metres
and vertical depth of 280 metres. The Yankee Girl West zone is now
one of five exploration target areas of similar or greater
dimension, referred to in later text as "panels", which Duncastle
has defined at and around the historic workings of the Yankee Girl
mine.
A total of 48 core holes have been completed on the project to
date with much of the drilling focused on the Yankee Girl mine area
located at the southwestern corner of this 5,987 ha property.
Recommendations from the report will form the basis for the 2010
exploration activity on the project.
Exploration priorities for 2010 include:
-- continued surface drilling of the Yankee Girl West zone (panel 3),
-- underground drilling via the existing Wildhorse Adit targeting the area
of the Cayzor raise on the Yankee Girl structure (panel 2), and
-- ground-based geophysics on the Yankee-Girl and Goodenough areas.
2009 Exploration Results
The 2009 exploration program consisted of 2,832 metres of core
drilling in 11 holes. Seven drill holes tested portions of the
Yankee Girl structure and three holes tested the area of the
Goodenough mine, 3 kilometres north of the Yankee Girl.
Past reporting by Duncastle and others dating to 1934 have
referred to mineralized shoots along strike and to the west of the
historic Yankee Girl mine similar to the shoots mined between 1907
and 1951. Drilling in 2009 demonstrated sufficient on-strike
continuity of higher-grade mineralization such that the previously
referred to Yukon, 400 and possibly 790 shoots have merged into a
larger mineralized zone which is now termed the Yankee Girl West
zone ("YGW"). The drill-defined strike-length of the mineralized
zone has expanded from 50m in 2008 to some 285m in 2009 along the
western projection of the Yankee Girl structure. To date gold and
silver-enriched polymetallic mineralization in the YGW has been
drill tested to only 280 metres vertical depth where it reaches the
historic mine workings (1235 level) and remains open at depth to
the west below the 1235 level, and to the east towards the historic
mine.
As tested to date, the mineralized portion of the Yankee Girl
structure consists of a quartz breccia up to 7.8 metres estimated
true thickness, containing massive sulphide horizons ranging up to
1.2 metres thick. Massive sulphide horizons contain clots and
lenses of massive to finely banded sphalerite, galena, pyrite and
locally pyrrhotite with scattered rounded quartz and minor host
rock fragments with up to four massive sulphide horizons
distributed within, or along the contacts of the quartz
breccia.
Highlights of previously reported assays, quoted as estimated
true thickness, from 2009 drilling include:
-- a 2.8 metre interval averaging 5.2g/t Au, 122.3g/t Ag, 4.5% Pb and 13.8%
Zn contained within a 17.2 metre interval grading 1.2g/t Au, 21.9g/t Ag
and 2.4% Zn from hole YD09-39,
-- a 3.2 metre interval, grading 4.2g/t Au, 21.9g/t Ag, 0.9% Pb and 1.1% Zn
from hole YD09-40. Three additional intercepts including a 0.44 metre
interval of 17.8 g/t Au, 124 g/t Ag, 3.4% Pb and 3.9% Zn occur in the
hangingwall of the main intercept,
-- a 1.63 metre interval averaging 1.35g/t Au, 81.73g/t Ag, 0.59% Pb and
1.84% Zn from drill hole YD09-44 targeting the Yankee Girl structure 485
metres west of the Yankee Girl mine (the farthest step out along strike
to the west to date),
-- a 4.3 metre interval averaging 5.6g/t Au, 27.4g/t Ag, 0.8% Pb and 4.1%
Zn from drill hole YD09-45, and
-- a 4.5 metre interval averaging 3.4g/t Au, 84.4g/t Ag, 1.6% Pb, and 2.6%
Zn within a broader 6.5 metre interval averaging 2.6g/t Au, 61.5g/t Ag,
1.1% Pb, and 1.9% Zn from drill hole YD09-46.
On the eastern margin of the Yankee Girl mine, hole YD09-48
intercepted the historic workings and returned 1.7 metres averaging
6.4g/t Au, 35.9g/t Ag, 1.2% Pb and 1.8% Zn and a 0.3 metre interval
of 21.0g/t Au, 232.0g/t Ag, 6.3% Pb and 21.3% Zn, with
mineralization occurring in the immediate hangingwall and footwall
of the historic workings. The result infers that significant
higher-grade material remains around the historic workings and
further confirms that at least some of the past mining efforts were
based on visual assessment with little testing of the face or walls
for grade.
A long-section of drilling on the Yankee Girl structure showing
the panels where further exploration is being considered is shown
in the attached figure (To view figure, click on the following
link: http://media3.marketwire.com/docs/0120FigureDUN.JPG).
Panel 1 - the eastern mineralized zone above the 1235 level,
including the historic mine (1907 - 1951).
Panel 2 - the eastern mineralized zone below the 1235 level and
above the Wildhorse Adit, including minor production during the
final years of the mine.
Panel 3 - the western mineralized zone including the Yankee Girl
West zone.
Panel 4 - the western zone below the 1235 level and above the
Wildhorse adit.
Panel 5 - the zone below the Wildhorse Adit, also below the
above four panels.
2010 Exploration Plans
Duncastle is now reviewing the exploration approach recommended
in the report and the access work required to expedite use of the
existing adits. Elements of the plan under consideration are:
-- Additional surface drilling on the Yankee Girl West zone (Panel 3) to
further expand the zone and test the continuity of mineralization both
horizontally and vertically from surface to the 1235 level. Deeper drill
testing holes into Panel 4 are also recommended as there is no data from
this area.
-- Rehabilitation of the Wildhorse Adit to access drill targets below the
mine workings. The Wildhorse adit is a 1.4 kilometre exploration adit
that reaches the Yankee Girl structure 110 metres below the workings. It
was completed in 1954 and inspected by Duncastle personal in 2006 and
found to be in apparently sound structural condition.
-- Underground drilling from the Wildhorse adit to test the area of the
Cayzor raise where historic chip sampling in 1961 partially defined a
zone some 200ft (61m) in height (approximately down-dip along the
mineralized structure) containing wall samples averaging 8.68g/t Au,
74.4g/t Ag, 2.4% Pb and 4.48% Zn over an average width of 1.31 metres.
-- Underground drilling targeting the Bonus Vein, a structure parallel to
the Yankee Girl vein which was discovered during construction of the
Wildhorse Adit but has limited expression at surface. Historic data
reports 2.43m grading 7.15g/t Au, 21.1g/t Ag, 0.37% Pb and 1.6% Zn at
the Bonus vein.
-- A detailed ground-based geophysics survey, as recommended for the Yankee
Girl and Goodenough mine areas.
Note that historic data provided in the section above has not
been independently confirmed by the company, is not 43-101
compliant and cannot be relied upon.
About Duncastle Gold
Duncastle Gold Corp. is a mineral exploration company
headquartered in Vancouver with projects in both northwestern and
southeastern British Columbia, two of BC's most prolific regions.
In northwestern BC the company holds under 100% option the 8,641
hectare Porphyry Creek project in the Rocher Deboule Mountains near
Smithers, where multiple high-grade silver, gold and base metal
occurrences surround a 10 kilometre long magnetic high. Exploration
is targeting porphyry copper-gold showings and prior workings as
well as high- grade silver-gold-copper prospects. In southeast BC
Duncastle has the historic prolific Yankee-Dundee Mine Project
totaling approximately 5,987 hectares under a 100% option agreement
in the Nelson Mining District, located three kilometres northeast
of the town of Ymir. Exploration by the company is targeting
high-grade gold-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,
ending in the 1950s (Production data was obtained from historical
government records and has not been independently verified by the
company and may be unreliable). The Ymir camp was the largest
silver producer in the British Commonwealth in the 1930s (BC MEMPR
Bulletin 109, 2001). 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,
Victor J E Jones, President, Director, Duncastle Gold Corp.
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 604.641.2771 or
1.888.456.1112 corpdev@mnxltd.com www.duncastlegoldcorp.com