Castle Minerals Ltd · ASX:CDT
Castle Minerals — Investor Presentation (February 2010)
27 slides from Castle Minerals's investor presentation, Feb 9, 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 0 Investor Presentation February 2010
Slide 2: 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 3: Castle History and Overview
Castle History and Overview For personal use only » ASX listed (2006) gold explorer » Greenfield Akoko Discovery 2008 » Greenfield Julie West Discovery 2008 » First Resources Defined 2009 » Largest Landholder in Ghana >12,000km2 » Major Exploration Effort 2009/10 has Commenced » 24 Gold Targets to b
Slide 4: Castle Market Statistics
Castle Market Statistics For personal use only Issued Shares 80.9m Options 11.8m Market Cap $21m Cash (Jan 2010) $4.2 m Shareholders Holder No Held % 1 MACQUARIE BANK LTD 6,350,000 7.85% 2 SEAMANS CAPITAL 5,250,000 6.49% 3 M IVEY PL 5,183,000 6.41% Tight Capital Structure 4 BLUESTAR RES LTD
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: Wa Project
Wa Project For personal use only • 15 large scale gold targets defined including; • 80km Jang Fault • 100km Wa-Lawra greenstone belt • 40km Batie West extension 5
Slide 7: Wa Project – Julie West quartz vein
Wa Project – Julie West quartz vein For personal use only 6
Slide 8: Wa Project – Julie West Vein
Wa Project Julie West Vein For personal use only Julie West Vein 415,000 tonnes @ 4.2g/t gold (56,000 ozs) • Discovered June 2008 • 44 samples average 13.2 g/t gold • 500m long laminated pyritic quartz vein occurring as one continuous vein ALPHA • 56,000 oz high grade BRAVO Indicated and Inferred re
Slide 9: Wa Project – Julie West quartz vein
Wa Project – Julie West quartz vein For personal use only 8
Slide 10: Julie West
Julie West For personal use only • 415,000 tonnes @ 4.2g/t gold with 80% of the ounces within 50m of surface • Includes 198,000 tonnes @ 6.4g/t • Metallurgical +90% recovery • Leach column testwork reported 83% recovery • Extensional and diamond drilling planned for 2009/10 – numerous vein targets t
Slide 11: Wa – Batie West
Wa – Batie West For personal use only • Aeromagnetic image of portion Wa Project • Batie West structure can be traced onto Castle ground for >40km • No known drilling or soil sampling 30km granite/greenstone contact along Batie west structure 10km intersection of Batie West 10 and Wa-Lawra greenston
Slide 12: 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 has commenced to be followed by drilling in 2010 11
Slide 13: 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 12
Slide 14: Wa Project
Wa Project For personal use only • New open ended soil anomaly north of Julie West • At least 1600m strike with samples assaying up to 1,947 ppb gold • First drill test January 2010 13
Slide 15: Julie West – new veins discovered 2009
Julie West – new veins discovered 2009 – extensional drilling in 2010 For personal use only 14
Slide 16: Wa - Summary
Wa - Summary For personal use only • Larger land holding than, Ampella (AMX), Azumah (AZM), Gryphon (GRY), Perseus (PRU), Adamus (ADU) • 250 strike km of UNTESTED Birimian greenstone • Belt south of AZM covers 100km and is untested • Jang Fault – new +50km soil anomaly – structure is leaking gold •
Slide 17: 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 16
Slide 18: Akoko
Akoko For personal use only • 102,000 ounce Indicated and Inferred Resource discovered by Castle in 2009 • Mineralisation completely open • January 2010 drilling discovers extension and new east lode at Akoko North 17
Slide 19: Akoko North
Akoko North For personal use only • Extensive shallow oxide mineralisation up to 150m wide that offers obvious open cut opportunities • Southern extension to Akoko North discovered January 2010 Optimised Pit Shell 18
Slide 20: Pit Shell Outline at Akoko North
Pit Shell Outline at Akoko North Akoko North For personal use only • 76,000 ounce Indicated and Inferred Mineral Resource • Scoping study (assuming toll milling) estimates $A24M operating surplus (@US$950) • Pit optimisation recovers 58,000 ozs in shallow open pit with low strip ratio +500m long unt
Slide 21: Akoko North
Akoko North For personal use only • Significant extension and new high grade east lode discovered • Gold mineralisation for both these zones remains completely open to the south and at depth • RC drilling was completed on 200m spaced lines south of the Akoko North resource and returned 6m @ 4.94 g/t
Slide 22: Akoko North – east lode
Akoko North – east lode For personal use only • New high grade east lode • Previous drilling reported a intercept of 1m @ 84.5g/t. • A deeper hole in Dec 2009 returned 1m @ 47.8 g/t gold • Hosted within a zone of silica/pyrite alteration • Drill testing at depth and along strike in Jan 2010 to deter
Slide 23: Akoko North
Akoko North For personal use only • Profitable open pit discovered that recovers 58,000 ounces and generates $24M • Open to the south • Open at depth - sulphide potential remains to be tested • Potential for material increase in gold resource with further work • Excellent location and infrastructure
Slide 24: Akoko West
Akoko West For personal use only • Highest tenor anomaly defined on Akoko project • First drilling January 2010 +1,000ppb gold in soil anomaly defined within a larger +100ppb gold anomaly on the new Akoko West prospecting licence… Highest tenor anomaly so far defined at the Akoko Project… 23
Slide 25: Summary
Summary For personal use only • Akoko and Julie West are new discoveries with intrinsic value and strong resource growth potential • Exploration ground is exceptional and largely unexplored • Targets are numerous and capable of producing major discovery • New Akoko extension and high grades likely t
Slide 26: Going Forward
Going Forward For personal use only • By end March Quarter 2010 • Akoko West drill test/results • Akoko North drill test/results • Akoko South drill test/results • Julie West deep test drill test/ results • Julie soil anomaly drill test/results • Alpha – Bravo trend drill test/results • Jang Fault i
Slide 27: 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
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