Castle Minerals Ltd · ASX:CDT
Castle Minerals — RIU Sydney Resources Round-Up 2011
40 slides from Castle Minerals's conference presentation, May 11, 2011
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 RIU Sydney Resources Round-Up May 2011 0
Slide 2: Castle History and Overview
Castle History and Overview For personal use only » Ghana focused gold explorer since 2006- ASX: CDT » 2 greenfield gold discoveries (Julie West and Akoko) for 158,000 ounces » Largest Landholder in Ghana ~11,000km2 » Three rigs currently operating on double shift » Recent drill success at Akoko and
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 99.6m Options (35c Dec 2011) 3.5m Market Cap (@30c) $30m Cash (March 2011) $4.9 m ~600 Shareholders Shareholder % of issued Tight Capital Structure HSBC CUSTODY NOM AUST LTD 8.29% LUJETA PL 7.75% Strong Shareholder Support YANDAL I
Slide 5: Project Locations
Project Locations For personal use only » Largest land holder in Ghana » 6 exploration projects covering ~11,000 km2 » Two gold discoveries in 2008 » One discovery (so far) in 2011 » 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 • ~10,000km2 • 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 ~4m alluvial cover Bedrock 7
Slide 9: For personal use only
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Slide 10: 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 9
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: For personal use only
For personal use only 11
Slide 13: For personal use only
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Slide 14: 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. • 20,000m auger program 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 RC drill testing within For personal use only 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 Outcropping For personal use only 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 5m @ 28g/t gold 2m @ 41g/t gold 7m @ 23g/t 3m @10g/t • Detailed soil sampling is outlining num
Slide 18: 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 17
Slide 19: Julie West – Jang Trend
Julie West – Jang Trend Koda Hill –drilled Feb 2011 For personal use only 18
Slide 20: Julie West – Jang Trend: Koda Hill
Julie West – Jang Trend Koda Hill – March 2011 For personal use only RC drilling intersects wide zones of primary gold mineralisation; 50m @ 0.5g/t gold from surface incl. 15m @ 1.01g/t gold from 35m 56m @ 0.30g/t gold from 10m incl. 16m @ 0.56g/t gold from 50m 20m @ 0.43g/t gold from surface Extens
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: Baayiri Prospect
|[Baayiri Prospect «de = = so d_Koda H 0 ; aaa fs cS ——— — = = © [Julie West : BAAYIRI PROSPECT Se : To Project area showing Be EY = Sa ni regional structures over 3 > eee . magnetic image
Slide 23: Julie – Jang Trend: Baayiri Gold Anomaly
Julie – Jang Trend Baayiri Gold Anomaly For personal use only 5 x 3km area of strong gold anomalism in an area never previously explored or sampled Surface soils up to 2,671ppb gold Highest tenor and size reported so far along Julie- Jang Trend Excellent structural position enhances prospectivity Im
Slide 24: 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 23
Slide 25: Kandia Prospect
For personal use only Kandia Prospect 24
Slide 26: Kandia Prospect
For personal use only Kandia Prospect 25
Slide 27: Kandia
Kandia TMI Survey <-4 - A), gold anomalism 4 for drill testing ~ . 2 i: a - 3 — Ok 5 ‘auft corridor Fy gold anomatism iD for drill testing Mumenc¥atve
Slide 28: Kandia Prospect
Kandia Prospect For personal use only Discovered March 2011 Infill and deeper drill program completed - results awaited 27
Slide 29: For personal use only
For personal use only 28
Slide 30: Kandia Prospect
Kandia Prospect For personal use only RC drilling has confirmed persistent bedrock gold mineralisation over 2.5km of strike Results include 40m@ 1.17g/t gold from 20m (inc. 25m @ 1.52g/t from 30m) and 25m @ 0.7g/t gold from surface (inc. 10m @ 1.25g/t from 5m) Mineralisation up to 45m wide and open
Slide 31: Bulenga Prospect
Bulenga Prospect For personal use only New gold target defined Jan 2011 SE end of Kandia Trend but different orientation 30
Slide 32: Bulenga Prospect
Bulenga Prospect For personal use only • +3km long soil anomaly • Two trenches dug January 2011 • Bedrock gold mineralisation in sediments reported 19m @ 1.14g/t gold from 10m inc. 3m @ 2.63g/t gold from 10m and 13m @ 1.17g/t gold from 16m • First drill testing planned for Q2 2011 31
Slide 33: For personal use only
For personal use only 32
Slide 34: Wa Project Summary
Wa Project Summary For personal use only ~11,000km2 Wa Project is an exceptional underexplored landholding. Exploration is focussing on four regional scale prospect corridors: Julie-Jang Trend 50km long trend Kandia new 30km corridor of anomalous gold in soils Wa South (Batie West trend) 60km long c
Slide 35: 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 34
Slide 36: Akoko
Akoko For personal use only • 102,000 ounce resource discovered by Castle in 2009 • Mineralisation completely open • Recent drilling discovers significant shallow extension at Akoko North 35
Slide 37: Akoko North
Akoko North For personal use only • Significant extensions discovered Jan 2011 21m @ 3.01g/t gold from 11m 5m @ 9.55g/t gold from 15m 16m @ 2.53g/t gold from 10m 2m @ 17.3g/t gold from 54m 16m @ 1.55g/t gold from 6m 12m @ 1.55g/t gold from 12m 11m @ 1.17g/t gold from 10m • Compelling open pit econom
Slide 38: Akoko North Prospect
T 596 400mE AKOKO NORTH PROSPECT AKOKO NORTH PROSPECT RC Section 559 680 mN [+ Somat
Slide 39: Best Value Gold Explorer in West Africa
Best Value Gold Explorer in West Africa For personal use only Potential for multiple uplift on exploration success Gross Market Capitalisation (A$M) 279M 570M 469M 200 100 0 web: www.castleminerals.com email: mivey@castleminerals.com phone: +618 9322 7018 post: PO Box 437 West Perth WA 38 Unit 6, 1
Slide 40: 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