Castle Minerals: Where has this gold project been hiding?
Castle Minerals Managing Director Steve Stone on 3AW, 2GB & 6PR Bulls N' Bears Report
Listen to ASX-listed Castle Minerals Managing Director Steve Stone talk to Matt Birney on the Bulls N’ Bears Report about Castle’s plan to follow up some stellar gold drilling results at a project that it has been quietly harbouring that just might take centre stage now with the gold price at historic highs.
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Castle Minerals is set to kick off a follow-up drill campaign at its Kpali gold project in Ghana to extend the mineralisation at a slew of prospects after initial exploration returned some impressive hits. The company is also eyeing several new targets within the tenement area following analysis of geophysics data as it looks at the possibility of establishing a new West African gold exploration camp that will complement its Kambale graphite project that also sits in Ghana.
RADIO INTERVIEW - TRANSCRIPT
Intro - Turning our attention now to the ASX
Intro - Here's Matt Birney and Bulls N' Bears with the latest public company views and interviews
Matt Birney - Welcome to Bulls N' Bears brought to you today by Castle Minerals
Matt Birney - ASX code: CDT
Matt Birney - I'm Matt Birney and I'm joined now by the Managing Director of Castle Minerals Steve Stone
Matt Birney - Hi Steve
Steve Stone - Hi Matt
Matt Birney - Okay so Castle Minerals is set to kick off a follow-up drill campaign at its Kpali gold project in Ghana to extend the mineralisation at a slew of exciting looking prospects after initial exploration returned some impressive hits. The company is also eyeing several new targets within the tenement area following analysis of geophysical data as it looks at the possibility of maybe establishing a new West African gold exploration camp that will complement its Kambale graphite project, also in Ghana.
Matt Birney - All right Steve we'll get into that drill campaign in a minute but firstly, what are some of the better drill hits at this project to date that you're looking to follow up on?
Steve Stone - Matt, we've got some fantastic hits. 22 meters at 2.85 that was from 87 meters, 7 meters at 6.03 from 90 meters we've got a near surface one, 16 meters at 3.23 from 9 meters and a lot more like that.
Matt Birney - Okay well tell me about some of the drill targets for this new campaign. Where are you going to drill and why?
Steve Stone - Well the main focus will be the Kpali deposit itself we've already drilled that out over about 850 meters we know it goes to a depth of 100 meters so we want to extend that and see where that goes, and then away from that to the north we've got another project called Bundi very similar got some really good numbers there. 2 meters at 9, 6 at 3.32, all very shallow and then as you mentioned the geophysics that we've been doing has thrown up a whole bag of new targets all of which we are very keen to test so a lot of work to do in this area which we actually think has the makings of a new West African mining camp
Matt Birney - Okay now I can see from your cross-sections you appear to have discovered two additional pretty shallow mineralised lodes to the west of that main Kpali lode that I guess otherwise might represent expensive dead dirt to move in any open pit scenario. If they check out could they potentially form part of an open pit with that main lode or are they too far away?
Steve Stone - No they definitely could be formed part of a pit Matt and we've got some holes focused around those because we think they will probably plunge down onto the other section and so we think that's a very valuable target to pursue.
Matt Birney - Now they look a bit closer to the surface to me, how far down do they start?
Steve Stone - Oh they start just below the cover so just a matter of 10 meters down or even less than that
Matt Birney - Very briefly, what's the broader geological region like around this project? Are there any decent discoveries up there?
Steve Stone - What's unusual, what's unique about this area is that two greenstone belts converge here and three major structures all of those host major West African gold deposits so we're in really really good fertile territory and the fact that they all converge here is really really special and that's what's really getting us excited, we think we're on to something could be quite significant.
Matt Birney - Steve Stone from Castle Minerals.
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information not advice which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears.
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