Castillian Intersects 5.05 g Au/t Over 9.4 Metres and 4.52 g Au/t Over 10.9 Metres at Hope Brook, Newfoundland
Pit Zone Extended 200 Metres Further Along Strike to Southwest
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 11/28/11 -- Castillian Resources Corp. ("Castillian" or the "Company") (TSX VENTURE: CT) is pleased to report the results of an additional 21 diamond drill holes at its Hope Brook Gold Project in southwestern Newfoundland. The drilling has extended the Pit Zone an additional 200 metres southwest, to a drilled strike length of 700 metres from the previously reported 500 metres.
Drilling also tested the near surface potential bulk mineable zones south and north of the former open pit mine and initial in-fill drilling of the Mine Zone extension. Collar locations of the holes are shown in Figure 1.
Highlights include:
"Three diamond drills continue to operate at Hope Brook. They are focused on completing additional in-fill drilling required to define a National Instrument 43-101 mineral resource and to follow up the higher grade intersections in the Mine Zone below the historic workings. Work required for the National Instrument 43-101 resource estimate, including data validation and modeling with our independent consultants, is advancing as planned. We intend to proceed with a preliminary economic assessment once the results of the resource estimate are determined." Dr. Bill Pearson, P.Geo., President & CEO of Castillian commented.
"A limited amount of exploration drilling was completed in the Pit Zone, which now extends at least 700m along strike and remains open." In addition, as previously reported (see the press release issued by the Company on November 15, 2011), geophysical surveys indicate there is excellent potential for an extension of the mineralized structure northeast of the open pit for some 600m along strike. The entire target zone at Hope Brook currently extends more than 1,700m along strike and is open to both the southwest and northeast as well as at depth.
Pit Zone and Mine Zone Extension
Thirteen holes totaling 4,399.3 metres were completed as in-fill drilling of the Pit Zone and Mine Zone Extension as shown in Figure 2, a vertical longitudinal section. Hole HB11-67 intersected 4.52 g Au/t over 10.9m within a wider mineralized zone grading 1.60 g Au/t over 40.2m in the Pit Zone approximately 60m below surface. Hole HB11-064 returned 3.01 g Au/t over 7.0m in a wider mineralized zone grading 1.57 g Au/t over 16.0m in the Mine Zone Extension about 400m below surface and about 400m southwest of the historical underground workings. Assays are pending for three drill holes and additional holes are planned for the area.
The surface extent of the Pit Zone is shown in Figure 1. The track-drill completed several exploration holes and this drilling has extended the gold-bearing silicified mineralization in the Pit Zone to a total strike length of 700 m, with hole HB11-060 intersecting the best result of 1.09 g Au/t over 11.1m at a depth of approximately 90m below surface. Geophysical data indicate that this zone likely extends further to the south where it is offset 180m along a north-south striking fault as shown in Figure 1. Historical drilling previously completed in the general area of this offset does not appear to have adequately tested this extension.
Target Areas South and North of the Open Pit
Target areas drilled south and north of the open pit are shown in Figure 1. Eight holes totaling 1,201.5m were completed south of the open pit and three holes totaling 493.4m were completed north of the open pit. In addition, as previously reported (see the press release issued by the Company on August 15, 2011), additional sampling was completed on historic drill core available at the Government core library in Pasadena, Newfoundland. Results from the new drilling confirmed that there are zones of significant gold mineralization outside of those that were mined as indicated in historical drilling results. Hole HB11-049, which intersected 5.05 g Au/t and 0.98% Cu over 9.4m within a broader mineralized zone grading 2.86 g Au/t and 0.51% Cu over 19.3m, likely intersected an area of potential unmined resource.
Since the drilling program commenced in September 2010, a total of 22,500 metres of drilling in 72 holes has been completed at Hope Brook with three holes still in progress. The full 25,000 metre drill program is expected to be completed by mid-December 2011 with the three drills currently operating.
SAMPLING, ASSAYING AND QUALITY CONTROL
The core (NQ (47.6 mm), BQTK (40.6mm) and BQ (36.4mm)) is logged, photographed and then sawn in half with one-half sent to the laboratory for analysis and the other half retained and stored on site. All core samples were prepared and assayed at ALS Chemex, with sample preparation done in Sudbury and analytical work done in Vancouver. All locations of ALS Chemex are ISO 9001:2000 certified. The entire sample received is weighed and crushed to greater than or equal to 70% passing 2mm (10 mesh). A sample split of up to 1000g is then pulverized to greater than or equal to 85% passing 75 microns (200 mesh) to produce a homogenized sample. A 50g aliquot is used for fire assaying with an atomic absorption (AA) finish to determine gold concentration. Copper is initially analyzed using a four acid digestion ICP (inductively coupled plasma-atomic emission spectrometry) method. Any results for copper greater than 10,000 ppm are assayed further by a four acid digestion and "ore grade" ICP method. Internal quality control includes the use of blanks, duplicates and standards in every batch of samples. The Company also conducts internal check assaying using certified external reference standards and blanks. Regular external check assays are performed at a second certified Canadian commercial laboratory. Castillian also inserts external reference standards as well as blank granite drill core in each sample batch as a further external check.
QUALIFIED PERSONS
Mr. Dan Lee, P.Geo., Chief Geologist and Project Manager for Hope Brook, and Dr. Bill Pearson, P.Geo., President and CEO of Castillian, both of whom are qualified persons as defined by National Instrument 43-101 ("NI 43-101"), have reviewed and approved the scientific and technical content of this press release. All geophysical survey work and interpretation is supervised by Dr. Chris Hale, P.Geo., Chief Geophysicist for Castillian and a qualified person as defined by NI 43-101.
ABOUT CASTILLIAN
Castillian Resources Corp. is a Canadian mineral exploration company listed on the TSX Venture Exchange under the symbol "CT" which has gold and base metal properties in Canada and South America. Castillian's flag ship property is the Hope Brook Gold Project located in southwestern Newfoundland where it is carrying out a 25,000 metre diamond drill program. Castillian has outlined an extensive new Gold-in-Soil anomaly trend on its Canadian Creek property in the Yukon that is adjacent to Kaminak's Sugar Gold-in-Soil trend.
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the diamond drill program at the Hope Brook project and its anticipated results, the exploration program and anticipating timing and costs with respect to the exploration program and the completion of a NI 43-101 compliant resource estimate, future financial or operating performance of the Company, its subsidiaries and its projects, statements regarding exploration prospects, the identification of mineral reserves and resources, exploration expenditures, timing of future exploration and requirements for additional capital. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; future prices of mineral prices; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
To view "Figure 1. Plan Map with Drill Hole Collar Locations, Hope Brook Gold Project UPDATE" and "Figure 2. Vertical Longitudinal Section, Pit Zone - Mine Zone Extension", please visit the following link: .
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Contacts:
Castillian Resources Corp.
Sabina Srubiski
Investor Relations Manager
416-309-2957
Castillian Resources Corp.
Bill Pearson
President & CEO
416-861-2968
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Datum: 28.11.2011 - 12:00 Uhr
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