CAP Castle Peak Mining Ltd

Castle Peak Mining Ltd. ('Castle Peak' or the 'Company') (TSX VENTURE:CAP), is
pleased to report the final 2012 drill results from the follow up drill program
at the Apankrah target on the Company's Akorade project in the southern Ashanti
belt, Ghana, West Africa. The compilation and understanding of these results
will provide the basis for unlocking additional value with selective exploration
programs in 2013. All maps, sections and results tables are available on the
Castle Peak website at www.castlepeakmining.com. 


Highlights:



--  Apankrah Shoot has now been intersected with a total of 12 drill holes
    with an average intercept length of 6.6 metres ('m') and an average
    grade of 5.7 grams per tonne ('g/t') gold ('Au') (bonanza grades in hole
    NKD022 capped to 50 g/t Au).
      
--  Apankrah structure, open in all directions, is host the to the Apankrah
    Shoot which has an average strike length of over 100m and is open in all
    directions and has been traced approx. 300m down plunge and remains open
    at depth. 



Highlight intercepts from the Apankrah follow-up drill program:



----------------------------------------------------------------------------
                           Length   Au Grade                                
Hole ID    Target             (m)      (g/t)                                
----------------------------------------------------------------------------
NKDDH029   Apankrah Shoot     3.0       11.6 Includes 1.1m of 30.5 g/t Au   
----------------------------------------------------------------------------
NKDDH030   Apankrah Shoot     5.0        8.5 Includes 1.5m of 10.2 g/t Au   
----------------------------------------------------------------------------



President and CEO Darren Lindsay stated, "I am pleased with the successful
completion of our Apankrah drill program on the Apankrah Shoot target. The
limited program followed the strong grades down plunge and down dip, and the
shoot remains open in all directions. The coarse visible gold style of
mineralization with lower grade halo shows the expected high grade variability.
Our next step is to internally model this target to determine additional
potential of the Apankrah and surrounding structures." 


Apankrah Shoot 

Modeling of the Apankrah target area has begun and will assist the Company in
determining our next exploration steps and further potential of this higher
grade target area (see Figure 1 and 2 at
http://www.castlepeakmining.com/i/pdf/2013-1-14_NR.pdf). Tracking of both the
broader alteration halo and the core mineralization may provide enough
geological confidence to contemplate a preliminary resource estimate in 2013.


Drill hole NKDDH029, a roughly 50m step-out down dip of NKDDH022 (a drill hole
which returned, uncut, a 6.0 m interval grading 80 g/t Au - August 14, 2012
press release), returned a narrow alteration zone hosting a 3.0 m interval
grading 11.58 g/t Au, including 1.1 m of 30.5 g/t Au. 


Drill hole NKDDH030, a roughly 50m step-out down plunge of NKDDH022, returned a
greater than 13m alteration zone hosting 5.0 m of 8.49 g/t Au, including 1.5 m
of 10.2 g/t Au. 


Drill hole NKDDH031, an approximate 50m step-out down dip of NKDDH029, returned
two alteration zones of 10m scale. The shallower alteration zone hosts poorly
developed Apankrah Shoot style mineralization, carbonate, pyrrhotite, pyrite and
silica, and returned 4.0 m of 3.28 g/t Au, including 1.0m of 6.94 g/t Au. Of
importance was the observation of a number of low to moderate angle fault zones
indicating that the area is geologically more complex than initially
interpreted. 


Drill hole NKDDH032, an approximate 50m step-out down plunge of NKDDH029 (100m
down plunge step-out from NKDDH022), returned a single poorly developed
alteration corridor of roughly 20m width hosting weak mineralization returning
5.34m of 0.3 g/t Au. Similar faulting to that observed in NKDDH031 was also
observed in this drill hole. 


Drill hole NKDDH033 was completed between NKDDH022 and NKDDH030. A number of
alteration zones were intersected ranging from 1.1m to greater than 15m in core
length. The largest alteration zone hosted Apankrah Shoot style mineralization
returning 7.0m of 0.64 g/t Au. Given the coarse nature of the gold observed in
the Apankrah structure it can be expected that some intercepts, although
exhibiting the expected style of mineralization, may return values lower than
anticipated. 


These drill hole intercepts together with previously released NKDDH009ext, 010,
016, 017, 018, 022 and 028 intercepts are beginning to better define the
Apankrah Shoot; a steeply plunging high grade shoot with a strike length
averaging over 100m and increasing with depth and a down plunge/dip extent of
over 300m which is open to the west and at depth (see Figure 2 at
http://www.castlepeakmining.com/i/pdf/2013-1-14_NR.pdf). This high grade shoot
is located within the auriferous Apankrah structure which has a known strike
length of greater than 250m and is open in all directions. 


The mineralized structure is defined by an assemblage of silica, carbonate,
pyrrhotite, pyrite and gold with the highest grades correlating directly to the
presence of visible gold. This structure, along with the parallel Nana structure
and third un-named structure, are hosted in a package of poorly understood
Birimian mafic metavolcanic rocks and are currently interpreted to be roughly
parallel to flow contacts. 


Table of drill results from Apankrah follow-up program:



----------------------------------------------------------------------------
                      From    To Length    Au                               
Hole ID    Target      (m)   (m)    (m) (g/t)  Notes                        
----------------------------------------------------------------------------
NKDDH029   Apankrah  273.0 276.0    3.0  11.6  50m down dip of NKDDH022     
----------------------------------------------------------------------------
NKDDH030   Apankrah  232.0 237.0    5.0   8.5  50m down plunge of NKDDH022  
----------------------------------------------------------------------------
  Includes           235.5 237.0    1.5  10.2                               
----------------------------------------------------------------------------
NKDDH031   Apankrah  271.0 275.0    4.0   3.3  50m down dip of NKDDH029     
----------------------------------------------------------------------------
  Includes           273.0 274.0    1.0   6.9                               
----------------------------------------------------------------------------
NKDDH032   Apankrah  288.2 293.5    5.3   0.3  50m down plunge of NKDDH029  
----------------------------------------------------------------------------
  Includes           292.4 293.5    1.1   0.7                               
----------------------------------------------------------------------------
NKDDH033   Apankrah  200.0 207.0    7.0   0.6  25m down plunge of NKDDH022  
----------------------------------------------------------------------------
  Includes           203.0 204.3    1.3   2.7                               
----------------------------------------------------------------------------

I.  Lengths are core lengths; true widths are estimated between 75-90% of
    core length. 
II. Composites are uncapped, length weighted averages with a cut off of 0.1
    g/t Au and inclusive of up to 3m of assays below the cut off value
    unless otherwise noted. 



Please refer to the Akorade Project section at www.castlepeakmining.com to view
complete table of 2012 drill results.


Technical Disclosure

Castle Peak's technical disclosure in this news release has been reviewed and
approved by Darren Lindsay, P.Geo., Castle Peak's President and CEO, who serves
as a Qualified Person under the definition in National Instrument 43-101 ('NI
43-101'). The exploration activities are supervised by Clive Arthur, Castle
Peak's Vice President Exploration. The procedures include the systematic
insertion of blanks, standards and duplicates into the sample stream both in the
field and at the lab; drill and road cut channel samples are placed in sealed
bags and are delivered to SGS Laboratory Services GH Ltd. in Tarkwa, Ghana, for
routine gold analysis by 50g charge fire assay with atomic absorption finish.
Samples with visible gold or returning greater than 5 g/t Au from fire assay are
subject to analysis using screen metallic assay. Multi-element soils survey
samples are placed in sealed bags and are delivered to ALS Minerals in Kumasi,
Ghana, for routine aqua regia ICPMS multi-element analysis. The Akorade project
is an early stage exploration project and does not contain any mineral resources
as defined by NI 43-101. The potential quantities and grades disclosed herein
are conceptual in nature and there has been insufficient exploration to define a
mineral resource for the targets disclosed herein. It is uncertain if further
exploration will result in these targets being delineated as a mineral resource.
Further information is available in the NI 43-101 compliant technical report
dated February 14, 2011 and entitled "NI 43-101 Technical Evaluation Report on
Nkwanta & Ayiem concessions, Wassa-West District, Republic of Ghana, West
Africa" authored by Daniel Gaudreault, P.Eng. and Alain-Jean Beauregard, P.Geol.
of Geologica Groupe-Conseil Inc., and in the NI 43-101 compliant technical
report dated January 2, 2012 and entitled "NI 43-101 Technical Report on the
Asuogya License, Ghana" authored by Gareth O'Donovan, Corporate Exploration
Consultant, of SRK Exploration Services Ltd, copies of which are filed under the
Company's profile on SEDAR at www.sedar.com.


About Castle Peak

Castle Peak Mining Ltd. is a Canadian-based exploration and development company
focused on advancing greenfields and early stage gold projects. The Company
holds a strategic land package in the Ashanti belt adjacent to several producing
gold mines in Ghana, West Africa. The Ashanti belt is known as one of the most
prolific gold belts in the world, putting Ghana as the second largest gold
producer in Africa with past production of greater than 150 million ounces. The
investment inflow for Ghana's mining sector was $2.5 billion from 2009 to 2011,
with increasing annual production reaching 3.6 million ounces in 201 (source:
Ghana Business News, November 11, 2012). 


On behalf of the Board of Castle Peak Mining Ltd.:

Darren Lindsay, President and Chief Executive Officer    

For additional information please visit www.castlepeakmining.com.

FORWARD-LOOKING STATEMENTS

Except for statements of historical fact, this news release contains certain
'forward-looking information' and 'forward-looking statements' within the
meaning of applicable securities laws including statements regarding proposed
exploration, sampling and drilling at the Akorade Project and statements
concerning the anticipated results of that exploration, sampling and drilling,
including statements relating to the timing and publication of a mineral
resource estimate in 2013. Such forward-looking statements are based on the
opinions and estimates of management at the date the statements are made, and
are subject to known and unknown risks, uncertainties and assumptions that could
cause actual results to vary materially from the anticipated results or events
predicted in these forward-looking statements, including those risk factors
identified in the Company's Annual MD&A and Filing Statement filed under the
Company's SEDAR profile. As a result, readers are cautioned not to place undue
reliance on these forward-looking statements. The forward-looking statements
contained in this news release are made as of the date of this release. Except
as required by applicable law, Castle Peak disclaims any intention and assumes
no obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Castle Peak Mining Ltd.
Marlo Hamer-Jackson
Investor Relations Manager
604 681 1466 (X225)
604 681 1404 (FAX)
info@castlepeakmining.com
www.castlepeakmining.com

Castle Peak Mining (TSXV:CAP)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024

Castle Peak Mining (TSXV:CAP)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024