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Eureka, Nevada  Castle Gold's Lone Mountain Project is located near Eureka, Nevada on the prolific Battle Mountain-Cortez Gold Trend. The area has produced some 23 million ounces of gold over the past 30 years, making it the second most productive belt in Nevada after the Carlin District. A recently completed CSAMT (Controlled Source Audio-Magnetotelluric) survey on the property identified a significant high-angle structure running parallel to the surface geochemical anomaly. The CSAMT survey outlined a major west-north-west trending fault structure generally coincident with a previously-identified area anomalous in arsenic, mercury and zinc extending for 3.5 km. This high-angle structure, which is similar to the one to the southeast associated with Barrick Gold's Archimedes Deposit, is considered to be favourable for gold mineralization. Castle Gold plans to drill test this as well as additional targets on the property in the spring upon completion of detailed ground truth studies and additional mapping. Castle Gold's initial claims were staked in mid 2004 but the northwest part of the property was surrounded by claims staked by other companies in early 2005. The Company subsequently expanded to a total of 282 claims following the discovery of a 120-foot-thick interval of gold-bearing Roberts Mountains Formation identified by re-assaying cuttings from an oil well located 4 km west of the property. Bravo Venture Group and partner Placer Dome have started drill testing the surrounding property.
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Nov 05, 2008
Sep 26, 2008 Sep 11, 2008 |
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| HEAD OFFICE | 80 Richmond St W, Suite 1400, Toronto, ON Canada M5H 2A4 Telephone: (416) 214-4809 Facsimile: (416) 214-4877 | ||||||