Castle Minerals Ltd · ASX:CDT
Castle Minerals — Shareholder Meeting (November 2009)
25 slides from Castle Minerals's shareholder meeting presentation, Nov 13, 2009
Slide 1: On the Path to Production - 2009 Annual General Meeting
On the Path … For personal use only 2009 Annual General Meeting … to Production 0
Slide 2: Castle History and Overview
Castle History and Overview For personal use only » Listed Li d on the h ASX in i MMay 2006 » Greenfield Akoko Discovery 2008 » Greenfield Julie West Discovery 2008 » First Resources defined 2009 » Project development studies in 2010 » Major M j exploration l ti effort ff t 2010 1
Slide 3: Board and Management
Board and Management For personal use only Chairman,, MD & CEO Michael Ivey y Non Executive Director Michael Ashforth Non Executive Director Campbell Ansell Secretary Dennis Wilkins Key Management Exploration Manager Michael Fowler Ghana Representative and Consultant Paul Amoako‐Atta Formerly Ghana
Slide 4: Project Locations
Project Locations For personal use only » Largest land holder in Ghana » 8 Exploration projects covering more than 10,000 sq km » Two ggold di discoveries i ini 2008 » Focus on Akoko and Wa projects 3
Slide 5: Wa
Wa For personal use only • 80km 80k Jang J Fault F lt • 100km Wa‐ Lawra greenstone belt • 40km Batie West extension 4
Slide 6: Wa aeromagnetic image
Wa For personal use only • Ae Aeromagnetic o a eti image of portion Wa Project • Batie West structure can be traced onto Castle ground for >40km 30km granite/greenstone contact along Batie west structure 10km intersection of Batie West 5 and Wa-Lawra greenstone belt
Slide 7: 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 13.2 /t gold ld • 500m long laminated pyritic quartz vein ALPHA occurring as one continuous vein BRAVO • 56,000 oz high grade resource e ou
Slide 8: Wa Project – Julie West quartz vein
Wa Project – Julie West quartz vein For personal use only 7
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 • 56,000 56 000 ounce Gold G ld R Resource estimated i d ffor JJulie li West • 415,000 tonnes @ 4.2g/t gold with 80% of the ounces within 50m of surface • Includes 198,000 tonnes @ 6.4g/t • Metallurgical 95% oxide, 70‐80% sulphide • Numerous N other h veins i identif
Slide 11: Julie West
Julie West For personal use only • 185 RC drill samples were submitted for 1kg Bulk leach (BLEG) analysis over 36 hours with following outcomes; • High grade assays up to 213g/t and 199g/t gold returned compared to previous fire assay of 30.9g/t and 71.9g/t g gold • Average cyanide recoverable gold
Slide 12: Julie West – Leach testwork
Julie West – Leach testwork For personal use only • A 200kg bulk sample collected from surface outcrop has reported a composite master head grade of 99.55g/t 55g/t gold • Initial coarse crush bottle roll tests (‐6.3mm) ( 6.3mm) have produced leach recoveries of 80% over 120 hours • Column leach test
Slide 13: Julie West Leach Recovery
Julie West Leach Recovery For personal use only Gold Recovery y (% ) versus Operating p g Cashflow (A$M) ( $ ) $35 $30 $25 A$ Millions s $20 $15 $10 Target Recovery @ 70% generates $23M $5 $0 20 25 30 35 40 45 50 55 60 65 70 75 80 85 % % % % % % % % % % % % % % Gold Recovery (%) 12
Slide 14: Julie West Whittle Shell
Julie West Whittle Shell For personal use only 13
Slide 15: Julie West ALPHA, BRAVO & CHARLIE veins
ALPHA 2m/5.33 Julie West 6m/2.3 For personal use only 9 3m/2.30 Veins under thin soil cover BRAVO 2m/3.9 7 85 2m/10.8 CHARLIE 5 85 5m/5.12 5m/6.08 1m/11.82 5m/1.33 Castle Minerals Limited 4m/1.50 WA PROJECT ALPHA, BRAVO & CHARLIE VEINS 5m/3.01 RC drill hole z Quartz Vein trend Drill intercept m@g/t
Slide 16: Wa
Wa For personal use only • Larger land holding than, Ampella (AMX), Azumah ((AZM), ), Gryphon yp ((GRY), ), Perseus ((PRU), ), Adamus ((ADU)) • 250 strike km of UNTESTED Birimian greenstone • Belt B l south h off AZM covers 100k 100km and d is i untested d • Jang Fault – Untested but has old BHP soi
Slide 17: Wa – Jantigi Prospect
Wa – Jantigi Prospect For personal use only • Silicified pyritic sediment outcrop sampled Nov 2009 • Smokey S okey quartz ua t veining ei i present e e t • Historic artisanal workings 16
Slide 18: Akoko
Akoko For personal use only • Akoko Ak k South S h and d Akoko North prospects • 10km east of Adamus Resources 2 Moz Salman/Anwia project • 30km 30k south th off 22 Moz M Tarkwa mine 17
Slide 19: Akoko
Akoko For personal use only • 102,000 ounce resource discovered by Castle • Mineralisation completely open • Ashanti Belt 18
Slide 20: Akoko North
Akoko North For personal use only • Extensive shallow oxide mineralisation up to 150m wide that offers obvious open cut opportunities Optimised Pit Shell 19
Slide 21: Pit Shell Outline at Akoko North
Pit Shell Outline at Akoko North Akoko North For personal use only • 76 000 ounce Mineral Resource 76,000 • Scoping study (assuming toll milling) estimates $A24M operating i surplusl • Pit optimisation recovers 58,000 ozs p p in shallow open pit with low strip p ratio • Open to the north and south •
Slide 22: 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 p to the north • Open at depth ‐ sulphide potential remains to be tested • Potentiall ffor materiall increase in gold ld resource with h further work • Drillin
Slide 23: Akoko West
Akoko West For personal use only • Highest tenor anomaly defined on Akoko project • To be drill tested in late 2009 +1,000ppb gold in soil anomaly defined within a larger +100ppb gold anomaly on the new Akoko West prospecting licence… Highest Hi h t tenor t anomaly l so far f defined d fi d att the
Slide 24: Summary
Summary For personal use only • Akoko and Julie West provide >$50m in potential cashflow • p Exploration g ground is exceptional p • Targets are numerous and capable of producing major discovery • Julie West moving to pre feasibility stage • Akoko deposit open ended • Experienced management • Excell
Slide 25: Going Forward
Going Forward For personal use only • By end 2009 Metallurgical e a u gi a leach ea tests e on o Julie Ju ie West e O Oree Submit mining application for Julie West development Fi t exploration First l ti ttestt ‐ 80km 80k JJang F Fault lt T Targett First exploration test 100km Wa‐Lawra greenstone be
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