- Castile Resources (CST) discovers a new high-grade gold zone at its Rover 1 Project in the Northern Territory
- The new zone occurs outside and directly adjacent to the mineral resource estimate in the Jupiter Deeps section of the project
- The zone was identified via hole 22CRD001-1 which intersected up to 9.6g/t gold, 1.4 per cent copper and 0.2 per cent bismuth
- Further, it continued the iron-oxide copper-gold (IOCG) mineralisation 173.4 metres downhole and expanded the true width of the mineralisation from 66 metres to 86 metres
- Castile is up 6.45 per cent on the market with shares trading at 16.5 cents at 12:23 pm AEST
Castile Resources (CST) has discovered a new high-grade gold zone at its Rover 1 Project in the Northern Territory.
The new zone occurs outside and directly adjacent to the mineral resource estimate in the Jupiter Deeps section of the project.
The zone was identified via hole 22CRD001-1 which intersected 31 metres at 4g/t gold, one per cent copper and 0.1 per cent bismuth from 868 metres including 9.5 metres at 9.6g/t gold, 1.4 per cent copper and 0.2 per cent bismuth from 881.5 metres.
This result pointed to the discovery of the new high-grade zone and further extended the Jupiter Deeps zone further down-dip.
Further, hole 22CRD001-1 continued the iron-oxide copper-gold (IOCG) mineralisation 173.4 metres downhole and expanded the true width of the IOCG mineralisation from 66 metres to 86 metres.
“This is a major new discovery for Castile. Not only does the interpretation suggest the discovery of a new bonanza gold zone at Rover 1, it appears the IOCG system is expanding at depth,” Managing Director Mark Hepburn commented.
“This newly discovered gold zone sits adjacent to our current indicated mineral resource in the Jupiter Deeps area and provides us with enormous potential for growth.
“In addition, the discovery of the extension of ironstone into the hanging wall approximately 120 metres below existing drilling is significant, indicating the Jupiter Deeps ironstone is more extensive than previously thought and suggests known copper-gold mineralisation may also continue down-dip further than has currently been interpreted.”
Castile was up 6.45 per cent on the market with shares trading at 16.5 cents at 12:23 pm AEST.