Duncastle Continues to Expand Mineralized Zone at Porphyry Creek
31 Agosto 2011 - 11:15AM
Marketwired
Duncastle Gold Corp. ("Duncastle") (TSX VENTURE: DUN)(FRANKFURT:
5D3) reported today that assay results from the first two of a six
core hole, 2,583 meter drill program on its Porphyry Creek project,
located 30 kilometers northwest of Smithers, BC, continue to
outline thick and strongly anomalous intervals of copper and
molybdenum mineralization, which was first identified in 2010
drilling. The 2011 drill program targeted the Sultana prospect
which is one of five high priority targets identified on the 136
square kilometer Porphyry Creek property.
Holes PC11-04 and PC11-05 drilled to the west and south of the
2010 discovery holes and within an 800 meter by 1,200 meter area of
coincident high conductivity and low magnetic susceptibility which
forms the primary target at the Sultana prospect. The holes were
drilled 220 meters apart and were cored for 616.7 meters and 588
meters respectively to test the eastern side of the target anomaly.
Both holes intersected thick intervals of intrusive rock with
variable amounts of quartz veining, and copper and molybdenum
sulphides throughout the entire drilled intervals.
Drilling encountered several significant intervals of greater
than 0.1% copper including:
-- a 51 meter interval averaging 0.11% copper and 0.021% molybdenum (0.22%
CuEq) within an overall 611.7 meter interval averaging 0.07% copper and
0.009% molybdenum (0.12% CuEq) from hole PC11-04; and
-- a 36 meter interval averaging 0.11% copper and 0.029% molybdenum (0.26%
CuEq) within an overall 398.0 meter interval averaging 0.07% copper and
0.008% molybdenum (0.11% CuEq) from hole PC11-05.
Both drill holes ended within 10 meters of strongly anomalous
mineralization and demonstrate a greater continuity between
mineralized intervals averaging greater than 500ppm copper and
greater than 100ppm molybdenum when compared to Duncastle's
previous drilling on the project (see NR-21-10, dated December 16,
2010).
These initial assay results clearly indicate a strengthening of
the mineralizing system to the west and south of the 2010 drilling
and at depth beneath the targeted geophysical anomaly. Drilling to
date has covered an area of only 500 meters by 400 meters. Two
overlimit assays are pending, as are results from the remaining
four holes which tested areas both to the north and south of the
present drilling.
President Michael Rowley said: "We continue to be impressed with
the size of the mineralized system at Sultana, and look forward to
receiving the remainder of assays in order to finalize our plans
for continued drilling, likely to the south and west as grade
appears to increase in these directions."
A reference map for the project can be viewed at:
http://duncastlegoldcorp.com/uploads/projects/16/sultana2011web.jpg
The table accompanying this press release can be viewed by
clicking the following link:
http://media3.marketwire.com/docs/DUNTAB831.pdf
About the Porphyry Creek Project
There are over 20 porphyry discoveries in the region, including
Berg, Bell, Huckleberry, Mt Milligan, and Galore Creek among
others, plus other deposit types (eg Eskay Creek). The Porphyry
Creek claim group includes historic workings and numerous
high-grade gold, silver and polymetallic showings around a distinct
10 kilometer long magnetic high with coincident copper, lead and
zinc geochemical anomalies shown in government data and Duncastle's
work to date.
About Duncastle Gold
Duncastle Gold Corp. is a Vancouver-based gold exploration
company with mineral claims covering or surrounding past producing
mines in northwest and southeast British Columbia, Canada.
Duncastle has assembled contiguous claim blocks totaling more than
210 sq km in these two historic and productive regions.
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 seven public companies active in North
America. Since its formation in 1997, the Manex Group companies
have raised over C$300 million in exploration financing.
Rob Macdonald, (P.Geo.), is the Qualified Person responsible for
reviewing the technical results in this release.
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 President,
Director 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
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