
July 03, 2022
Castile Resources Limited (ASX:CST) (“Castile” or “the Company”) is pleased to advise that results from Hole 22CRD001-1 have revealed a new high grade gold zone at the Company’s 100% owned Rover 1 Project. The new gold structure occurs outside, but directly adjacent to, Castile’s current Mineral Resource Estimate (MRE) for Rover 1 in the Jupiter Deeps section of the deposit.
The upper part of Hole22CDR001 has returned an exceptional intercept of IOCG mineralisation of:
- 31m at 4.0 g/t Gold, 1.0% Copper and 0.1% Bi from 868m (TW 20.2m) downhole
This included a high grade core zone of:
- 9.5m at 9.6 g/t Gold with 1.4% Copper and 0.2% Bi from 881.5m downhole
This intercept points to the discovery a new additional high grade gold zone where late stage shears cut the IOCG alteration and also extends the Jupiter Deeps zone further down-dip.
Other results from 22CRD001-1 include:
- 7m @ 2.5% Cu with 0.5g/t Au and 0.1% Bi from 906.0m downhole
- inc 1.7m @ 6.6% Cu with 0.8g/t Au and 0.1% Bi from 907.7m downhole
- 8m @ 1.4% Cu with 0.9g/t Au, 0.1% Bi and 0.1% Co from 828.6m downhole
- inc 5m @ 1.7% Cu with 1.2g/t Au, 0.1% Bi and 0.1% Co from 831m downhole
Additionally, Hole 22CRD001-1 continued in IOCG alteration for 173.4 metres downhole expanding the interpreted true width of the Jupiter Deeps IOCG alteration to 86m (from 66m). The hole exited the IOCG alteration laterally which opens the base of the system for further extensions of the new high-grade copper-gold zones at depth.
Figure 1: Jupiter Deeps Cross Section Showing New Interpreted Gold Zone
Mark Hepburn, Managing Director of Castile commented:
“This is a major new discovery for Castile.
Not only does the interpretation suggest the discovery of a new bonanza gold zone at Rover 1, it appears the IOCG system is expanding at depth. This newly discovered gold zone sits adjacent to our current Indicated Mineral Resource in the Jupiter Deeps area and provides us with enormous potential for growth.
In addition, the discovery of the extension of ironstone into the hanging wall approximately 120m below existing drilling is significant, indicating the Jupiter Deeps ironstone is more extensive than previously thought and suggests known Cu-Au mineralisation may also continue down dip further than has currently been interpreted. Paired with the new high grade gold zone identified, this hole has changed our understanding of the Jupiter Deeps ironstone zone considerably.”
The drilling program continued with another wedge cut from this hole with the aim of testing the Ganymede high grade gold zones in the hanging-wall of the main IOCG zone. (See ASX:CST 2022 Drilling And Fieldwork Program Commences). This wedge has been completed and the core is being prepared for assay. These results will be presented to the market as they are received.
Mark Hepburn
Managing Director
Castile Resources Limited
For further information please contact: info@castile.com.au
Phone: +61 89488 4480
Castile Resources Limited
7/189 St Georges Terrace Perth, WA, 6000
This announcement was approved for release by the Castile Resources Board of Directors
Table 1: Significant Intersections Returned From Hole 22CRD001-1
Competent Person Statement
The exploration results contained in this report are based on, and fairly and accurately represent the information and supporting documentation prepared by Mark Savage. Mr Savage is a full-time employee of Castile, and a Member of The Australasian Institute of Mining and Metallurgy. Mr Savage has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Exploration Targets, Mineral Resources and Ore Reserves. Mr Savage consents to the inclusion in the report of the matters based on the exploration results in the form and context in which they appear.
Forward Looking Statements
Certain statements in this report relate to the future, including forward looking statements relating to Castile’s financial position and strategy. These forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other important factors that could cause the actual results, performance, or achievements of Castile to be materially different from future results, performance or achievements expressed or implied by such statements
Actual events or results may differ materially from the events or results expressed or implied in any forward- looking statement and deviations are both normal and to be expected. Other than required by law, neither Castile, their officers nor any other person gives any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will occur. You are cautioned not to place undue reliance on those statements.
Click here for the full ASX Release
This article includes content from Marquee Resources Limited (ASX: MQR), licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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Capricorn Metals' Karlawinda Expansion Gets Thumbs Up
The Karlawinda gold project by Capricorn Metals (ASX:CMM,OTC Pink:CRNLF) is now clear to commence all expanded mining activities.
In a Tuesday (July 29) release, Capricorn said that its mining proposal and mine closure plan for the project has been approved by Western Australia’s Department of Energy, Mines, Industry Regulation and Safety (DEMIRS).
Karlawinda’s expansion was first revealed by the company last January, following its announcement of its acquisition of the Deadman Flat project in Pilbara.
According to Capricorn, Deadman Flat’s tenements cover approximately 270 square kilometres contiguous to its Karlawinda gold project, allowing for the expansion.
The company aims for Karlawinda to lift gold production by 25 percent, at a peak of 150,000 ounces per annum.
“We have been working hard over the past 12 months to be as prepared as possible for commencement of the project and that should allow an expedited start to construction,” commented Capricorn Executive Chairman Mark Clark.
Following the approval, Karlawinda can now proceed with all expanded mining activities at Bibra, Southern Corridor and Berwick open pits, and construction of the expanded processing plant.
The approval also covers the construction and development of Tailing Storage Facility 2 (TSF2), additional ROM pad, extensions to the southern waste dump and other infrastructure development required.
On July 24, Capricorn also announced its acquisition of Warriedar Resources (ASX:WA8,OTC:WRDRF) and its flagship Golden Range project.
The announcement stated that 2.3 million ounces (Moz) gold equivalent will be added to Capricorn’s resource, about 25 percent more than its existing Western Australian mineral resource base of 6.8 Moz.
Subject to certain conditions, the acquisition is expected to close in November 2025.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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Piche Resources
Investor Insight
With high-quality, drill-ready assets with world-class discovery potential, Piche Resources is a compelling business case for investors looking to leverage a bull market for uranium and gold.
Overview
Piche Resources (ASX:PR2) is an ASX-listed mineral exploration company focused on uranium and gold exploration in Tier-1 jurisdictions: Western Australia and Argentina. The company holds 100 percent ownership of all of its projects and is supported by a highly experienced board and technical team.
Targeting globally significant discoveries in Tier-1 mineral provinces
Piche’s portfolio includes the advanced-stage Ashburton uranium project in Western Australia and two large-scale exploration projects in Argentina: the Cerro Chacon gold-silver project and the Sierra Cuadrada uranium project. These projects have delivered high-grade exploration results and are drill-ready, positioning the company to unlock significant shareholder value through systematic exploration programmes.
Piche has an internationally recognized board focused on creating long-term shareholder value, and an in-country technical team in Argentina with a proven track record of taking projects from discovery through to development.
Company Highlights
- Flagship Ashburton uranium project in Western Australia with recent high-grade drilling results over wide intercepts.
- Sierra Cuadrada uranium project in Argentina showing extensive near-surface mineralisation with assays up to 2.86 percent U₃O₈.
- Cerro Chacon gold-silver project with high-grade surface results (up to 11.65 g/t gold and 333.7 g/t silver) across a 14 km mineralised corridor.
- Fully permitted and EIA-approved for drilling at Cerro Chacon (Chacon South and Middle).
- Large, 100-percent-owned tenement package across all projects (Ashburton: 335 sq km; Cerro Chacon: 414 sq km; Sierra Cuadrada: 1,310 km²).
- Board of directors includes former leaders of Peninsula Energy, Orano, Rio Tinto Uranium and Barrick Gold.
- Upcoming drill campaigns planned at Cerro Chacon and Ashburton to test multiple high-priority targets.
- Well positioned for growth in the context of a strengthening uranium and gold price environment.
Key Projects
Gold: Cerro Chacon, Argentina
Cerro Chacon interpreted geology and tenement holding
Cerro Chacon is a large-scale, early-stage gold-silver exploration project located in the Chubut Province of Argentina. The project is situated within a region known for hosting world-class low-sulphidation epithermal systems, including Cerro Negro and Cerro Vanguardia. With multiple gold-bearing structures confirmed over a 14 km corridor, Cerro Chacon is emerging as a highly promising and underexplored precious metals system with substantial scale and grade potential.
Project Highlights
Location: ~40 km southwest of Paso de Indios, Chubut Province
Tenure: 414 sq km across multiple tenements
Highlights:
- A 14 km-long mineralised corridor has been delineated across Chacon Grid, La Javiela and Toro Hosco prospects.
- High-grade geochemical results include:
- 11.65 g/t gold and 120.3 g/t silver at Toro Hosco
- 333.7 g/t silver, 9.48 percent lead, and 8.57 percent zinc at La Javiela South
- Maiden RC drilling programme of 57 holes (7,905 m) scheduled across three main targets:
- Chacon Grid: 45 holes (5,590 m)
- La Javiela: 8 holes (1,740 m)
- Toro Hosco: 4 holes (575 m)
- EIA approvals for Chacon South and Chacon Middle were received in May 2025, enabling drilling to proceed.
- Vein systems range from 2 to 6 km in strike length and up to 50 m in width; hosted within structurally controlled low-sulphidation epithermal veins (LSEV).
Uranium: Ashburton Project, Australia
The Ashburton project is Piche’s flagship uranium exploration asset in Australia, situated in the Pilbara region of Western Australia. Located within a historically underexplored but highly prospective unconformity-related uranium district, the project provides the company with strong leverage to the growing global demand for uranium. The project is geologically analogous to world-class Proterozoic uranium systems, with multiple confirmed mineralised zones and a regional corridor of 60 km.
Project Highlights
- Location: Pilbara region, ~1,150 km north of Perth
- Tenure: 335 sq km following the recent application for tenement E52/4461 (214 sq km), adding to the existing 122 sq km holdings.
- Highlights:
- 2024 RC and diamond drilling confirmed high-grade uranium mineralisation at multiple stratigraphic levels.
- Best intercepts include:
- 3.45 m @ 5,129 ppm eU₃O₈ from 137.62 m (ARC006)
- 10.48 m @ 1,412 ppm eU₃O₈ from 114.30 m (ADD005)
- 2.42 m @ 2,681 ppm eU₃O₈ from 155.10 m (ADD003).
- 7.86 m @ 2,266 ppm eU₃O₈ from 105.42 m (ADD006)
- The company has outlined a 60 km structural corridor hosting multiple uranium occurrences including Angelo A & B, Canyon Creek, Ristretto and Atlantis.
- Atlantis prospect: historical drilling returned up to 7,400 ppm U₃O₈ over 2.2 m; rock chip samples have returned up to 37 percent U₃O₈.
Uranium: Sierra Cuadrada, Argentina
Sierra Cuadrada is Piche’s primary uranium asset in Argentina, covering a vast area within the San Jorge Basin. This large-scale project has demonstrated strong surface uranium mineralisation with multiple drill-ready prospects. With mineralisation confirmed across extensive zones and supported by historical radiometric and geochemical data, Sierra Cuadrada has the potential to host multiple Tier-1 uranium deposits in a cost-effective, near-surface setting.
Teo 5 and 6 prospect 2024 auger drill programme
Project Highlights:
Location: San Jorge Basin, ~200 km north of Comodoro Rivadavia
Tenure: 1,310 sq km across multiple licences
Highlights:
- The project area contains broad, flat-lying mineralisation at multiple stratigraphic levels.
- High-grade uranium assays include:
- 28,650 ppm U₃O₈ (2.86 percent) from rock chip sampling at Teo 8
- 24,017 ppm U₃O₈ from channel sampling
- 2,772 ppm U₃O₈ over 0.5m from auger drill sample
- Mineralised zones extend over a strike of 60 sq km, with confirmed targets on the majority of tenements.
- 2024 auger drilling and sampling confirmed uranium continuity across a sandstone and conglomerate sedimentary package with 14 samples exceeding 200 ppm U₃O₈.
- Rock chip sampling has returned 114 samples >200ppm U₃O₈
- RC drilling is planned to follow up on anomalies identified in the auger and channel sampling programmes.
Management Team
John (Gus) Simpson – Executive Chairman
John Simpson has over 37 years of experience in mineral exploration, development and mining. Previously the executive chairman and founder of Peninsula Energy Limited (ASX:PEN), a USA uranium producer.
Stephen Mann – Managing Director
Stephen Mann is a geologist with over 40 years of experience in exploration, discovery and development of mining projects, including 20 years in the uranium sector. Formerly the Australian managing director of Orano, the world’s third-largest uranium producer.
Pablo Marcet –Executive Director
Pablo Marcet is a senior geoscientist with 38 years of experience in exploration, discovery and development of mineral deposits. Currently an independent director of lithium producer Arcadium Lithium (NYSE:ALTM) and previously a director of Barrick Gold (NYSE:GOLD) and U3O8 (TSX:UWE).
Clark Beyer – Non-executive Director
Clark Beyer is an internationally recognized nuclear industry executive with over 35 years of experience. Formerly the managing director of Rio Tinto Uranium and currently principal of Global Fuel Solutions, providing strategic consulting to the international uranium and nuclear fuels market.
Stanley Macdonald – Non-executive Director
Stanley Macdonald is a nationally recognized mining entrepreneur, founding director and instrumental in the success of numerous ASX-listed companies, such as Giralia Resources, Northern Star and Redhill Iron. He is currently a director of Zenith Minerals.
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During an interview with the Investing News Network's Charlotte McLeod, Steve Barton of In It To Win It shared his outlook on gold, silver, uranium and more, highlighting how he uses technical analysis to guide his trades.
“Whatever is out of favor and hated at the moment, that’s probably what you need to buy,” he said. “Buy it when it’s boring and no one cares, then you get to ride the wave up.”
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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Sranan Gold (CSE:SRAN,FSE:P84) is a junior exploration company focused on Suriname, a South American country that produces over 600,000 ounces of gold annually. The company’s flagship project is located in the highly prospective Guiana Shield, one of the world’s most underexplored and gold-rich geological regions.
Sranan’s 29,000-hectare Tapanahony gold project sits atop a historic mining belt with strong geochemical and structural markers. Leveraging local knowledge, legacy drill data, and modern exploration tools, the company aims to define its first gold resource along a 4.5 km mineralized corridor.
Backed by the discovery team behind Suriname’s major deposits—Merian, Rosebel, and Saramacca—Sranan is targeting hard-rock gold beneath saprolite zones, with plans to accelerate drilling, grow its land position, and deepen community ties.
Company Highlights
- District-scale land position: The 29,000-hectare Tapanahony project covers one of Suriname’s oldest and most productive artisanal mining districts, offering untested hard-rock upside within the Guiana Shield, home to numerous multi-million-ounce gold deposits.
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- Deep in-country knowledge: Geologists are locally trained at Anton de Kom University and have decades of experience in Suriname’s regolith-dominated terrain.
This Sranan Gold profile is part of a paid investor education campaign.*
Click here to connect with Sranan Gold (CSE:SRAN) to receive an Investor Presentation
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