TORONTO, ONTARIO--(Marketwire - May 22, 2012) - Castle Resources Inc. (TSX VENTURE:CRI) ("Castle" or the "Company") is pleased to announce drilling has begun at its 100% owned Granduc Copper Project near Stewart, British Columbia.
The initial focus of the 2012 drilling program is to drill test and expand upon the resource areas in the South Zone not drilled during 2011. Approximately 6500 metres is planned to be drilled in 12 holes with 2 drills set up on the South Leduc Glacier. In early June, additional drills will be mobilized onto the property to begin a large and systematic exploration program on the North Zone.
"Castle's drilling success in 2011 and the subsequent NI 43-101 resource estimate clearly shows there remains significant copper mineralization in the South Zone," said Mr. Mike Sylvestre, President & CEO of Castle Resources Inc. "We are getting an early start on South Zone to test this assumption and look forward to growing the South Zone inferred footprint in our next resource estimate."
The Granduc South Zone is a large extension of the high grade copper resource that Castle is currently in the process of developing beneath the historic Newmont and Esso mine workings. In 2011, Castle's drilling confirmed Granduc copper mineralization extends at least 600 meters to the south of Main Zone mineralization, and importantly, assay results from South Zone drill holes reported wider mineralized thicknesses and higher copper grades.
About Castle Resources
Castle is a Toronto-based junior mineral development company focusing on high-quality, advanced projects. Management's goal is to continue the redevelopment of the 100% owned past producing Granduc Copper Mine in Stewart, B.C. For more information please visit the Castle Resources' website at www.castleresources.com.
Certain statements contained in this news release may contain forward-looking information within the meaning of Canadian securities laws. Such forward-looking information is identified by words such as "estimates", "intends", "expects", "believes", "may", "will" and include, without limitation, statements regarding the company's plan of business operations (including plans for progressing assets), estimates regarding mineral resources, projections regarding mineralization and projected expenditures. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, risks inherent in the mining industry, financing risks, labour risks, uncertainty of mineral resource estimates, equipment and supply risks, title disputes, regulatory risks and environmental concerns. Most of these factors are outside the control of the company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
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