Castle Peak Mining Ltd. (TSXV:CAP) announced a preliminary mineral resource estimate for the Akorade Project in the southern Ashanti belt, including 76,000 ounces @ 8.6 g/t gold.

As quoted in the press release:

The Company has identified two other structural targets in the area, both of which require drill testing: (1) an induced polarization anomaly (‘IP Structure’) anomaly lying ~250 metres to the south of the Apankrah structure, which mimics the geophysical characteristics of the Apankrah Shoot, and (2) an artisanal mining operation running along an east-north-east trending structure found approximately 700m to the north of the Nana structure. These targets remain a top priority for further exploration designed to expand the newly defined high grade mineral resource base.

Castle Peak’s 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.” He adds, “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.

To view the whole press release, click here.