Duncastle Signs Agreement with First Nations at Porphyry Creek
August 09 2010 - 10:50AM
Marketwired
Duncastle Gold Corp. (the "Company") (TSX VENTURE: DUN)(FRANKFURT:
5D3) reported today that it has signed a Communciations and
Engagement Agreement with First Nations for 2010 exploration work
on the eastern portion of its Porphyry Creek project located 20
kilometres northwest of Smithers in northwest British Columbia.
The agreement provides employment, training and business
opportunities to First Nations and First Nations businesses in the
eastern project area while granting Duncastle access for planned
reconnaissance geology and drilling programs in 2010. The agreement
compliments an earlier agreement signed for access to the western
portion of the property and is a continuation of the positive
relationship Duncastle has built with local communities starting
with early consultation before work commenced in 2008.
Duncastle now has agreements in place with First Nations for all
2010 exploration target areas on the property.
The Porphyry Creek project presents a compelling porphyry
copper-gold-molybdenum target with over 115 sq km of highly
mineralized claims covering numerous high-grade gold, silver and
polymetallic showings around a distinct 10 kilometer long magnetic
high in stratigraphy known to host large porphyry deposits.
Three areas on the property have emerged as early targets where
preliminary magnetic and electromagnetic anomalies co-incide with
known high-grade mineralization. The Sultana prospect in particular
is now considered 'high priority' and covers a 500 meter by 500
meter area of altered intrusive and mineralized copper and
molybdenum surface rock samples. Drilling is planned for
September.
Duncastle Gold Corp. is a Vancouver based gold exploration
company with mineral claims covering or surrounding past producers
in two historic BC districts. In Southeast BC Duncastle is
targeting high-grade gold-silver-lead-zinc veins at the former
Yankee-Dundee mine, 50km from the smelter at Trail, BC. In
Northwest BC the Company's holdings cover a 10 km long magnetic
anomaly, previous workings, and high-grade veins at its Porphyry
Creek project. Duncastle has assembled contiguous claim blocks
totaling more than 190 sq km in each of these two productive
regions for gold and copper exploration.
As part of the Manex Resource Group, Duncastle benefits from
shared expertise in corporate finance, public company
administration, investor relations, and technical and geological
services provided for eight public companies. Since its formation
in 1997, the companies within the Manex Group have raised over
C$250 million in exploration financing.
On behalf of the Board of Directors,
Michael Rowley, 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. These statements are based on a
number of assumptions, including, but not limited to, assumptions
regarding general economic conditions, interest rates, commodity
markets, regulatory and governmental approvals for the company's
projects, and the availability of financing for the company's
development projects on reasonable terms. Factors that could cause
actual results to differ materially from those in forward looking
statements include market prices, exploitation and exploration
successes, the timing and receipt of government and regulatory
approvals, and continued availability of capital and financing and
general economic, market or business conditions. Duncastle Gold
Corp. does not assume any obligation to update or revise its
forward-looking statements, whether as a result of new information,
future events or otherwise, except to the extent required by
applicable law.
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. Michael Rowley 1.888.456.1112 or
604.641.2742 mrowley@mnxltd.com Duncastle Gold Corp. Liana
Shahinian 1.888.456.1112 or 604.641.2773 liana@mnxltd.com
duncastlegoldcorp.com