Castle Minerals Ltd · ASX:CDT
Castle Minerals — Investor Presentation (October 2010)
34 slides from Castle Minerals's investor presentation, Oct 19, 2010
Slide 1: Exploring the Largest Land Holding in Ghana
Castle Minerals Limited ASX: CDT For personal use only Exploring the Largest Land Holding in Ghana OCTOBER 2010 0
Slide 2: Castle History and Overview
Castle History and Overview For personal use only » ASX listed (2006) gold explorer “CDT” » Ghana focused explorer » 2 greenfield gold discoveries (Julie West and Akoko) for 158,000 ounces » Largest Landholder in Ghana >12,000km2 » Four regional scale gold corridors identified » +40 targets drill re
Slide 3: Board and Key Management
Board and Key Management For personal use only Michael Ivey - Chairman, MD & CEO Geologist, 25 years corporate, technical, exploration and mine development experience Former CEO of 300Koz pa Australian gold producer. 2002 Gold Mining Journal Mining Executive of the Year Michael Ashforth - Non Execut
Slide 4: Castle Market Statistics
Castle Market Statistics For personal use only Issued Shares 96m Options 10.2m Market Cap (@40c) $38m Cash (September 2010) $6.5 m ~590 Shareholders % Issued Capital 1 Lujeta Pty Ltd 6.8% Tight Capital Structure 2 Seamans Capital 6.8% 3 Yandal Investments Pty Ltd 6.3% Strong Shareholder Supp
Slide 5: Project Locations
Project Locations For personal use only » Largest land holder in Ghana » 6 exploration projects covering more than 12,000 sq km » Two gold discoveries in 2008 » Focus on Akoko and Wa projects 4
Slide 6: Project Locations
For personal use only Project Locations 5
Slide 7: Wa Project
Wa Project For personal use only • 12,000km2 • 180km long, 80km wide • acquired Nov 2007 • Julie West defined 2009, (415,000t @ 4.2g/t) • 4 advanced regional exploration areas 1. Wa-Lawra Belt 2. South Wa 3. Julie west – Jang 6 4. Kandia
Slide 8: Wa-Lawra Greenstone Belt
Wa-Lawra Greenstone Belt For personal use only • 100km portion of Wa-Lawra greenstone belt • South of 0.8Moz Kunche deposits • 100km strike of Birimian greenstone – never drilled • Regional soil sampling underway 7
Slide 9: Wa – South Wa
Wa – South Wa For personal use only • Castle’s Wa Project • Batie West structure can be traced onto Castle ground for ~30km • Initial sampling completed on 5km lines (250 line km) 30km granite/greenstone contact along Batie west structure 8
Slide 10: NE trending gold anomaly – associated with granite
NE trending gold anomaly – associated with granite For personal use only Strong gold anomaly up to 1.2km wide over 5km strike. Associated with potential dilational zone on regional scale structure Strong gold anomaly - 2km wide zone > 100ppb gold Intersection of Batie West and NE trending structures
Slide 11: For personal use only
For personal use only • +10km zone aligned NW-SE below internal granite • 10,000m drill program proposed • Auger sampling along roads suggests shallow ~5m alluvial cover 10
Slide 12: Wa South (Batie West)
Wa South (Batie West) For personal use only • Auger drilling is intersecting between 3 and 7m of alluvial cover • Possibly masks gold mineralisation that earlier conventional soil sampling could have missed. • 280 holes completed • A further 400 holes are planned with a second auger rig due on site
Slide 13: For personal use only
For personal use only 12
Slide 14: Wa – Batie West
Wa – Batie West For personal use only • Highly prospective • Batie West structure and Wa Lawra Greenstone belt intersection • Auger, RC drilling and ongoing soils planned for 2010 Wa South soil anomalies (red) with hatching showing • Never drilled area of infill sampling currently underway 13
Slide 15: Julie West – Jang Corridor
For personal use only • Julie West – Jang Corridor • Hosts Julie West deposit and Koda Hill target • 3km west of AZM Julie deposit • 50km of anomalous soil geochemistry defined • Drill ready targets
Slide 16: Kjersti Prospect
Kjersti Prospect New gold anomalies for Koda Hill Anomaly For personal use only RC drill testing within Julie – Jang exploration corridor Julie West 56 Koz 415,000t@ 4.2g/t Julie Deposit 350 Koz 15 2500m
Slide 17: Julie West
Julie West For personal use only Outcropping Julie West Vein 415,000t@ 4.2g/t • Defined by soil gold (56,000 geochemistry and first ounces) drilled in Dec 2008 • Single linear reef of laminated vein quartz • Detailed soil sampling is outlining numerous other targets in the district 16 N © DigitalGlo
Slide 18: Julie West conceptual open pit study
Julie West conceptual open pit study (no capex assumptions) For personal use only $US600 shell captures 250,000 tonnes @ 4.9g/t gold Cash Cost ~US$295/oz Recovery 90% Operating Surplus @US$1350 US$ 35M Processing Cost and Admin US$20/tonne ore Mining/grade control US$20/tonne ore Mining dilution 20%
Slide 19: Julie West
Julie West For personal use only • September 2010 drilling reports 20m @ 1.79g/t gold inc. 6m@5.02g/t gold in new area 18
Slide 20: Julie West – Jang Trend
Julie West – Jang Trend Koda Hill – to be drilled late 2010 For personal use only 19
Slide 21: Wa Project – Jang Fault
Wa Project Jang Fault For personal use only • Vacant ground (2,000km2) pegged following Julie West discovery • Sampled Dec 2009 • 50km long trend of anomalous gold geochemistry exactly coincident with the position of the Jang Fault • Infill soils planned to define drill targets 20
Slide 22: Kandia
For personal use only • 180km long, Kandia • 30-80km wide • acquired Nov 2007 • Julie West discovered 2008, first resource 2009 • New vein discovery March 2010 • Batie West extension target first sampling 2010 21
Slide 23: Kandia Prospect
For personal use only Kandia Prospect 22
Slide 24: Kandia Prospect
For personal use only Kandia Prospect 23
Slide 25: Kandia Prospect
Kandia Prospect Nine well defined gold For personal use only anomalies over +12km of strike Sediment hosted 15,000m RC initial drill gold mineralisation test provides potential for large tonnage gold deposit Area of artisanal Good geological workings and RC setting – drilling sediments near gran
Slide 26: Kandia Prospect
Kandia Prospect For personal use only New aeromagnetic data show Kandia sited in an area of structural complexity (good for gold) and shows a +10km unexplored fault/shear zone to the west +10km fault corridor Soil anomalies for RC drilling 9 targets over 12km 25
Slide 27: Kandia Prospect
Kandia Prospect For personal use only • Extensive artisanal gold workings discovered April 2010 • Sediment hosted gold mineralisation confirmed at the site of the Kandia artisanal workings • Nine strong coherent anomalies over 12km of strike • Soil response materially stronger than that seen at the
Slide 28: Wa Project Summary
Wa Project Summary For personal use only Exploration ground is exceptional and largely unexplored Work has identified +40 drill ready targets at • South Wa • Julie West – Jang • Wa-Lawra Belt • Kandia ……plus many more in the pipeline + 35,000m drilling proposed 27
Slide 29: Akoko
Akoko For personal use only • Akoko South and Akoko North prospects • 10km east of Adamus Resources 2 Moz Salman/Anwia project • 30km south of 22 Moz Tarkwa goldmine • Ashanti Gold Belt 28
Slide 30: Akoko
Akoko For personal use only • 102,000 ounce resource discovered by Castle in 2009 • Mineralisation completely open • 2010 drilling discovers extension and new east lode at Akoko North 29
Slide 31: Akoko North
Akoko North For personal use only • Extensive shallow oxide mineralisation up to 150m wide that offers obvious open cut opportunities - pit optimisation (@US800/oz) recovers 58,000 ozs in shallow open pit with low strip ratio • Scoping study (assuming toll milling) estimates ~US$35M operating surplu
Slide 32: Akoko North
Akoko North For personal use only • Significant extension and new high grade east lode discovered • RC drilling was completed on 200m spaced lines south of the Akoko North resource and returned 6m @ 4.94 g/t gold from 13m 4m @ 29.2 g/t gold from 26m 2m @ 5.89 g/t gold from 38m 5m @ 3.52 g/t gold fro
Slide 33: Peer Comparison
Peer Comparison For personal use only Potential for multiple uplift on exploration success web: www.castleminerals.com email: mivey@castleminerals.com phone: +618 9322 7018 post: PO Box 437 West Perth WA 32
Slide 34: Appendix - Resource Estimates
Appendix - Resource Estimates For personal use only Julie West Deposit April 2009 OK Resource Estimate 1g/t cut-off Indicated Inferred Total Type Tonnes Au Au Tonnes Au Au Tonnes Au Au t g/t Ounces t g/t Ounces t g/t Ounces Oxide Transitional 66,700 3.8 8,200 3,500 7.8 900 70,200 4.0 9,000 Fresh 316
Castle Minerals — Investor Presentation (October 2010) on 6ix