Join our daily newsletter At The Bell to receive exclusive market insights
- Castile Resources (CST) intersects further high-grade gold and copper at the Rover 1 Deposit in the Northern Territory
- Overall, up to 23.4 grams of gold per tonne (g/t), 0.4 per cent copper and 0.2 per cent bismuth was intersected
- The results received to date continue to expand the global resource of Rover 1 and define the dimensions of the overall mineralised system
- According to Managing Director Mark Hepburn, the company will now target zones of much higher grade copper
- Shares in Castile are steady on the market and are trading at 23 cents
Castile Resources (CST) has intersected further high-grade gold and copper at the Rover 1 Deposit in the Northern Territory.
The Rover 1 Deposit is part of Castile’s 100 per cent owned Rover Project which lies 80 kilometres southwest of Tennant Creek.
Additionally, Rover 1 has a JORC 2012 mineral resource of 6.9 million tonnes at 1.74 grams of gold per tonne (g/t), 2.07g/t silver, 0.3 per cent bismuth and 0.06 per cent copper.
Results have been received for hole 21CRD002-2A which returned a best intercept of 38.7 metres at 7.4g/t, 0.3 per cent copper and 0.2 per cent bismuth from 603 metres.
Other results include six metres at 23.4g/t gold, 0.3 per cent copper and 0.2 per cent bismuth from 609 metres; and 2.4 metres at 23.2g/t gold, 0.4 per cent copper and 0.1 per cent bismuth from 629.6 metres downhole.
The results received to date continue to expand the global resource of Rover 1 and define the dimensions of the overall mineralised system.
Managing Director Mark Hepburn is pleased with the results received.
“This is yet another sensational result from the drilling at Rover 1 with the exceptional gold and copper intercepts that endorse why Tennant Creek carries the distinction of being Australia’s highest grade goldfield,” Mr Hepburn commented.
“Our drill program continues at Rover 1 with our next hole targeting the zones of much higher grade copper that are interpreted within the overall iron-oxide copper-gold (IOCG) body.”
Shares in Castile were steady on the market and were trading at 23 cents at 12:37 pm AEST.
