- Castle Minerals (CDT) has applied for three exploration licences in the Earaheedy Basin of Western Australia
- The tenements comprise the Terra Rosa, Marymia and Withnall projects and cover a combined area of 636 square kilometres
- The Withnall Project sits adjacent to Rumble Resources’ (RTR) Chinook-Magazine zinc-lead discovery which bodes well for prospectivity within the Withnall area
- Castle will now compile and review historical data from the area while it waits for the application process to be completed which may take up to several months
- Castle’s shares have dropped 6.67 per cent and are trading at 1.4 cents
Castle Minerals (CDT) has applied for three exploration licences in the Earaheedy Basin of Western Australia.
Specifically, the exploration licences comprise of the Terra Rosa, Marymia and Withnall projects and cover a combined 636 square kilometres.
These tenements are situated less than 100 kilometres east of the De Grussa copper mine and align with Castle’s strategy of becoming a key explorer in regions prospective for base and precious metals.
“Castle’s three applications for large tracts of ground in the Earaheedy Basin are consistent with its strategy of positioning itself at low-cost in emerging prospective terranes,” Managing Director Stephen Stone said.
Castle is particularly intrigued by the Withnall Project which sits adjacent to licences hosting Rumble Resources’ (RTR) recent Chinook-Magazine zinc-lead discovery. However, the company can’t determine the Withnall application area’s prospectivity, as it’s yet to be explored.
“At this early stage, and whilst the applications are being processed, the focus will be on compiling and critically reviewing historical datasets and evaluating the progress made by neighbouring explorers,” he added.
The company will compile and review historical data from exploration in the area while it waits for the application process to be completed. This is expected to take up to several months.
Castle’s shares have dropped 6.67 per cent and are trading at 1.4 cents at 12:28 pm AEST.