Newcastle Announces Commencement of Pickle Lake Drilling
October 28 2010 - 8:27AM
Marketwired
Newcastle Minerals Ltd. (TSX VENTURE: NCM) is pleased to announce
that drilling has commenced on its Pickle Lake Property in
northwestern Ontario. The first hole targets the gold
mineralization in the banded iron formation northeast of the
Southwest Powerhouse Zone. Preliminary data from the airborne
survey shows coincident VLF conductors overlapping the known iron
formation. Drilling in the 1980s encountered significant gold
mineralization, but was not followed up in any detail.
Preliminary results from the recently-flown high resolution mag
and VLF airborne geophysical survey defined two VLF conductors that
parallel the known gold-bearing Riopelle Vein and PC Gold Inc.'s
recently discovered No. 20 Vein which have been extrapolated onto
Newcastle's Pickle Lake Property. Data from this survey is being
utilized to select drill collar locations that will follow up on
these possible extensions.
Newcastle's president, Michael Romanik, said "We are very
excited to reach the drilling stage of exploration. We have
completed a lot of preliminary work in preparation for this stage
to enhance the success of the program. The recently-flown airborne
survey has been a great tool and has provided many new exploration
prospects going forward."
The technical information herein was prepared under the
supervision of Mr. Brian Newton, P. Geo., of Billiken Management
Services Inc., who acts as Newcastle's Qualified Person as defined
by National Instrument 43-101.
Newcastle Minerals Ltd. is a Canadian gold and base metal
exploration company trading on the TSX Venture Exchange (TSX
VENTURE: NCM). The company is advancing its three key properties:
its 120-hectare Carscallen Property in the West Timmins area of
Ontario, its 11,100-hectare Pickle Lake Property in northwestern
Ontario and its 6,600-hectare property located in the Swayze
greenstone belt of Ontario near Trelawney Mining and Exploration
Inc.'s Chester Project.
ON BEHALF OF THE BOARD
Michael Romanik, President
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: Newcastle Minerals Ltd. Michael Romanik President
Direct line: (204) 724-0613 info@newcastleminerals.com
www.newcastleminerals.com
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