- Castle Minerals (CDT) has applied for two additional exploration licences in the Earaheedy Basin in WA
- The company has now lodged five applications for a combined 863 square kilometres comprising the Withnell and Terra Rosa sub-projects
- This supports Castle’s strategy to position itself at a low-cost in recently unexplored prospective regions
- CDT is reviewing historical data and evaluating other companies’ work in the region to determine how best to progress
- All five licence applications are yet to be approved
- Castle Minerals shares have spiked 3.13 per cent to trade at 1.7 cents each
Castle Minerals (CDT) has applied for two additional exploration licences in the Earaheedy Basin in Western Australia.
After lodging three applications earlier this month, the latest submissions bring Castle’s total license applications to five for a combined 863 square kilometres, comprising the Withnell and Terra Rosa sub-projects.
CDT says the submissions support its strategy to position itself at a low cost in regions prospective for base and precious metals.
These areas, the company says, have generally not received much recent attention nor benefited from the latest available exploration tools.
According to to Castle, much of the historical exploration at Withnell dates back to the 1990s, with a number of prospects delineated within the Sweetwater Well and overlying Frere Formation.
The company has therefore made an application on the basis that one such area, the Sioux prospect, appears to occur within the Withnell license area.
Meanwhile, Castle’s four remaining contiguous Terra Rosa applications are grouped immediately to the east of the Thaduna copper deposit.
CDT has now commenced collating and critically reviewing publicly available historical data and is evaluating the work being done by other companies in the region to determine how best to progress.
Castle Managing Director Stephen Stone commented on the planned exploration.
“We are very pleased to have been able to increase our exposure to the prospective Earaheedy and adjacent Yerrida Basins and have commences an intensive compilation and review of historical datasets ahead of an initial reconnaissance field trip,” Stephen said.
All five licence applications are awaiting approval.
On the market this morning, Castle Minerals is up 3.13 per cent, with shares trading at 1.7 cents at 10:56 am AEST.