The Conversation (0)
Castle Peak Mining Ltd. (TSXV:CAP) reported a preliminary mineral resource estimate for the Akorade Project in the southern Ashanti belt: 76,000 Ounces at 8.6 g/t Gold. The mineral resource estimate was calculated based on results from 4,253 metres of drilling in a series of parallel structures within the Apankrah Target Area.
As quoted in the press release:
The inferred mineral resource estimate, with an effective date of April 26, 2013, is as follows:
Zone: Apankrah Shoot
Category: Inferred
Tonnes: 275,000
Grade (/t Au): 8.6
Contained Ounces: 76,000*Mineral resources are reported at a cut-off grade of 2 grams per tonne (‘g/t’) gold (‘Au’). Cut-off grades are based on a price of $1,400 USD/oz Au. All figures are rounded to reflect the relative accuracy of the estimate. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Mineral resources have been classified according to CIM Standards on Mineral Resources and Reserves.
CAstle Peak Mining President and CEO Darren Lindsay said:
This is one of only a handful of high grade projects in West Africa, and one of only a few in Ghana. This is a major milestone for Castle Peak shareholders, and I look forward to further drill evaluation of these additional structural targets to increase our mineral resource base. The high grade nature of this deposit will play a key role in assessing the preliminary economics in an area that is currently known for larger, lower grade mineral resource development and mining.
Click here to read the Castle Peak Mining Ltd. (TSXV:CAP) press release
Click here to see the Castle Peak Mining Ltd. (TSXV:CAP) profile.