Castillian Reports Geophysical Survey Results That Extend Hope Brook Mineralized Structure Including Surface Samples on North...
November 03 2011 - 8:41AM
Marketwired Canada
Castillian Resources Corp. ("Castillian" or the "Company") (TSX VENTURE:CT) is
pleased to announce the results from the Quantec Geoscience Ltd. ("Quantec")
Titan 24 geophysical survey ("Titan 24" or the "Survey") and the Castillian
induced polarization ("IP") surveys completed at the Company's Hope Brook gold
property located in southwest Newfoundland. These surveys are described in a
press release by the Company dated June 28, 2011. In addition, Castillian has
completed a prospecting and mapping program along approximately 8km strike
length of the mineralized structure extending from about 1 km northeast of the
open pit southwestwards through historical showings in the Chetwynd and Chetwynd
South areas.
Prospecting has identified a number of occurrences of gold in bedrock along the
8km strike length (Figure 1), including the potential northeast extension where
one sample returned 168.9 g Au/t (Figure 2). Several samples also contain
significant Cu values up to 10.2% Cu. A total of 213 samples were taken, of
which 42 returned values of 0.5 g Au/t or greater as shown in Figure 1.
Significant results are listed in Table 1.
Table 1: Summary of Significant Prospecting Results, Hope Brook Gold
Project, November 3, 2011
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Gold Copper
Sample # Northing Easting Description (g/t) (%) Type
----------------------------------------------------------------------------
Northeast Extension
----------------------------------------------------------------------------
Brittle quartz vein -
L733602 5288602 418304 trace pyrite, galena 168.9 tr outcrop
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Northwest of Open Pit (cleared area)
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Silicified metasediments
- 10% pyrite, 5%
chalcopyrite, trace
L733524 5287748 417687 bornite 8.29 2.46 outcrop
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Silicified metasediments
L733631 5287801 417760 - 20% sulphides 2.63 9.00 outcrop
----------------------------------------------------------------------------
Silicified mafics - with
pyrite, chalcopyrite,
L733527 5287772 417728 bornite 2.15 2.36 outcrop
----------------------------------------------------------------------------
Chetwynd Shafts
----------------------------------------------------------------------------
Silicified metasediments
- 10% chalcopyrite, 1%
L733652 5286610 416355 pyrite 3.23 1.16 subcrop
----------------------------------------------------------------------------
Felsic? - leached with
pyrite, malachite
L733587 5286637 416395 staining 2.71 tr outcrop
----------------------------------------------------------------------------
Metasediments - local
semi-massive pyrite with
L732974 5286719 416500 chalcopyrite 2.28 1.28 outcrop
----------------------------------------------------------------------------
Metasediments - iron
formation., semi-massive
with pyrite,
L733645 5286657 416412 chalcopyrite 2.18 10.2 subcrop
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Chetwynd South Extension
----------------------------------------------------------------------------
12cm quartz vein in
metasediments with trace
L733561 5285026 415104 pyrite 2.19 tr outcrop
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Woodman's Droke
----------------------------------------------------------------------------
Quartz vein with 10%
very fine grained
1517 5284092 412912 sulphides 3.74 0.54 outcrop
----------------------------------------------------------------------------
The Titan 24 and Castillian IP surveys indicate that the Hope Brook mineralized
structure appears to be offset approximately 150 to 200 meters to the north
along a north-south striking fault (see Figure 2). The Hope Brook mineralized
structure likely continues along strike to the northeast on the other side of
this fault. As shown in Figure 2, no historical drill holes have previously
tested this target area.
The Company also announces the start up of a third diamond drill, which will
accelerate the delineation of the resource at Hope Brook. The drill will be
targeting deeper parts of the deposit in the vicinity of Hole HB11-046, which as
previously reported (see press release dated September 14, 2011) returned 4.05 g
Au/t over a core length of 29.3m (22.0m true width). According to Dr. Bill
Pearson, P.Geo., President and CEO of Castillian, "The third drill will allow us
to accelerate the step out drilling and more quickly evaluate the extensions of
the deposit at depth."
The Titan 24 Survey was completed over a total strike length of 1.6 kilometres
from immediately north of the former open pit mine. Castillian extended the
Survey area an additional 600 meters further north with induced polarization
(IP) surveys using similar parameters to the Titan 24 Survey. Figure 3 is a
three dimensional (3D) representation showing the location of the resistivity
results from the Titan 24 Survey relative to the longitudinal section of the
Hope Brook mine. The Titan survey demonstrates that the mineralized structure
extends more than 1 kilometer to the southwest from the Hope Brook Deposit that
was previously mined. Drilling by Castillian to date has confirmed gold
mineralization continues at least 500 meters along the structure. Additional
drilling is in progress to test the structure further along strike.
Dr. Pearson commented: "The Titan 24 Survey, coupled with our drill results to
date, confirms that the mineralized structure at Hope Brook is very extensive
both along strike and downdip. This survey combined with Castillian's detailed
IP surveys has outlined a number of targets for future drilling. The
identification of a northeast extension of the mineralized structure supported
by a number of mineralized surface samples is a very exciting development for
the project."
Dr. Chris Hale, P.Geo., Chief Geophysicist for Castillian, commented: "Drilling
near the old mine clearly shows that the large, conductive anomaly plotted at a
depth of 300 metres in the Titan 24 model (Figure 2) reflects the pyrite-bearing
footwall of the deposit. Detailed resistivity measurements carried out by
Castillian to 100 metres depth and in drill holes indicate that gold
mineralization typically occurs in more resistive, silicified rocks just above
this marker. The footwall conductivity zone extends from surface to depths over
400 metres and for at least a kilometre southwest of the old mine. This is as
far as we have IP data; however, airborne magnetic and resistivity data suggest
that the structure may extend even farther."
ABOUT THE TITAN 24 SURVEY
Titan 24 is a specialized ground geophysical survey system developed by Quantec
that has been successfully applied on many mineral exploration projects
worldwide. The survey covered the major target areas identified by Castillian in
the Hope Brook Mine and 240 Zone areas.
This proprietary system acquires large amounts of subsurface physical property
information including induced polarization chargeability and direct current
resistivity at depths of up to 750 metres.
The Titan 24 Distributed Acquisition System (DAS) employs a combination of
multiplicity of sensors, 24-bit digital sampling, and advanced signal
processing. It provides three independent datasets capable of measuring
subsurface resistivity (structure, alteration & lithology) and chargeability
(mineralization) to depth.
SAMPLING, ASSAYING AND QUALITY CONTROL
All assays for the surface prospecting and sampling program were completed by
Eastern Analytical Limited of Springdale, Newfoundland by the ICP (Inductively
Coupled Plasma Optical Emission Spectroscopy) method (ICP-30). Gold assays were
completed by standard 1 assay ton fire assay using the AA method. Samples with
Cu values great than 10,000 ppm were analyzed by ore grade assay analysis with
AA finish. Internal quality control includes the use of blanks, duplicates and
standards in every batch of samples. The Company also conducts internal check
assaying using certified external reference standards and blanks.
QUALIFIED PERSONS
Dr. Bill Pearson, P.Geo., President and CEO of Castillian, Dr. Chris Hale,
P.Geo., Chief Geophysicist for Castillian, and Mr. Dan Lee, P.Geo., Chief
Geologist, Hope Brook Project, all of whom are qualified persons as defined by
National Instrument 43-101, have reviewed and approved the scientific and
technical content of this press release.
ABOUT CASTILLIAN RESOURCES
Castillian Resources Corp. is a Canadian mineral exploration company listed on
the TSX Venture Exchange under the symbol "CT", which has gold and base metal
properties in Canada and South America. Castillian's flag ship property is the
Hope Brook Gold Project located in southwestern Newfoundland, where it is
carrying out a 25,000 metre diamond drill program. Castillian also recently
completed exploration on its Canadian Creek property in the Yukon that is
adjacent to Kaminak's Sugar Gold-in-Soil trend.
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking information
includes, but is not limited to, statements with respect to the impact of the
results of the Titan 24 Survey and the induced polarization surveys, exploration
prospects, the identification of mineral reserves and resources and timing of
future exploration. Generally, forward-looking information can be identified by
the use of forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or variations
of such words and phrases or state that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially different from those
expressed or implied by such forward-looking information, including but not
limited to: general business, economic, competitive, political and social
uncertainties; acquisition risks; the actual results of current exploration
activities; delay or failure to receive board or regulatory approvals; timing
and availability of external financing on acceptable terms; the Property not
being integrated successfully or such integration proving more difficult, time
consuming or costly than expected; conclusions of economic evaluations; changes
in project parameters as plans continue to be refined; future prices of mineral
prices; failure of plant, equipment or processes to operate as anticipated;
accidents, labour disputes and shortages and other risks of the mining industry;
and, delays in obtaining governmental approvals or required financing or in the
completion of activities. Although the Company has attempted to identify
important factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other factors that
cause results not to be as anticipated, estimated or intended. There can be no
assurance that such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
information. The Company does not undertake to update any forward-looking
information, except in accordance with applicable securities laws.
To view the figures associated with this press release, please visit the
following link: http://media3.marketwire.com/docs/Figuresct1103.pdf.
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