Gold Exploration in West Africa

[FL]

Castle Minerals (CDT in Sydney) find in Ghana

See: http://www.minebox.com/story.asp?articleId=11218

Gold discovery at Akoko North, Ghana (MineBox)

Castle Minerals project locations [map]

Castle Minerals Ltd is has announced that first pass drilling at Akoko North has intersected significant open ended shallow gold mineralisation over 1,000m of strike. Castle Minerals Ltd is a gold exploration Company with seven project areas covering more than 2,000km² in Ghana, West Africa.

Five, 200m spaced drill fences were completed with significant gold mineralisation intersected on all lines. The mineralised zone is open in all directions.

Intercepts of note include:

2m @ 2.66g/t gold from 15m (ANRC 04)
17m @ 2.29g/t gold from 5m (ANRC 06)
18m @ 2.17g/t gold from 3m (ANRC 07)
10m @ 1.11g/t gold from 42m (ANRC 07)
11m @ 6.65g/t gold from 50m (ANRC 08)
10m @ 1.50g/t gold from 40m (ANRC 13)*
20m @ 0.80g/t gold from 30m (ANRC 18)*

Castle Managing Director Mike Ivey said “these results are very promising; consecutive intercepts at 200m line spacing suggests a large gold system may exist.

The near surface results have obvious economic potential whilst the deeper intercept in hole ANRC 08 (11m @ 6.65 g/t) is from a sulphide zone that provides promise of high grade primary gold mineralisation.

This is the first drill program at Akoko North and as well as following up these results we have numerous other targets that require testing.”

Mineralisation is hosted by lateritized to strongly altered fresh basalts and andesites with variable amounts of quartz veining, silicification and pyrite. A program of infill drilling is being prepared.

The 20 hole reverse circulation drilling program was designed to test a well defined 1.5km long (+250ppb gold) gold in soil anomaly and represents the first ever drilling in this area.

The northern half of this anomaly contains numerous historic prospecting pits and shafts over a +600m x 75m area. The area has excellent access being 600m west of an all weather gravel road and 25km south of the large mining town of Tarkwa.

The Akoko North prospect is situated on a low ridge. Minor subsistence farming is carried out but the nearest village is at Esaaman approximately 8km to the southeast.

The Akoko Project consists of one granted Prospecting Licence located in the Ashanti gold belt ~10 km east of Adamus Resources’ Salman gold project. Adamus has reported a resource of 1.97 Moz for their combined Salman/Anwia resource.

- 04 May 2008