An orientation visit by Castle Minerals at the Coolyia Creek project’s Mt Roe and Hardey conglomerates in Western Australia has confirmed extensive gold mineralisation that is “more widespread than expected”, according to the company’s managing director.
Stephen Stone, MD for Castle Minerals, explained that the combination of geological setting, primary presence of gold and high level of prospector activity all reinforced the potential for Witwatersrand-style gold mineralisation at the Coolyia Creek project.
The orientation visit collected several nuggets samples from quartz veins over a two-day period.
“We expect to mobilise very shortly field crews to Coolyia Creek and the recently acquire Beasley Creek projects to undertake more detailed mapping, rock-chip, stream sediment and soil sampling,” he explained.
Castle’s share price shot up 300 per cent in October following its 80 per cent acquisition of project rights at the Coolyia Creek project, 40 kilometres southwest of Marble Bar in the Pilbara region of WA.
Among its investors was Artemis Resources, who acquired a 4.8 per cent stake in Castle for $1.23 million. The company is also undertaking early-stage exploration projects in Ghana at present, including prospects at Kpali and Kandia.