Castle Minerals Ltd · ASX:CDT
Castle Minerals — Africa DownUnder Conference 2007
27 slides from Castle Minerals's conference presentation, Sep 7, 2007
Slide 1: …on the verge of discovery
For personal use only …on the verge of discovery Africa DownUnder Conference September 2007
Slide 2: Summary
Summary For personal use only ASX listing May 2006 – (ASX: CDT) Seven high quality gold prospects Strategy to identify and explore properties capable of hosting world class gold deposits Very experienced board and management team Strongly leveraged against exploration success Castle Minera
Slide 3: People
People For personal use only Michael Ivey Chairman & Managing Director Michael Ashforth Non Executive Director Cam Ansell Non Executive Director Dennis Wilkins Secretary Michael Fowler Exploration Manager Paul Amoako – Atta Ghana Representative and Consultant Castle Minerals Limited
Slide 4: Corporate
Corporate For personal use only Fully paid shares 48.3M (~18M escrowed until 2008) Unlisted options 6.9M (exercise price $0.35) Cash (@Aug 07) $3.4M Market capitalisation ~$14M Top 20 ~62% 450 shareholders Management & vendors are key investors (~50%) Castle Minerals Limited
Slide 5: Ghana (formerly known as the Gold Coast)
Ghana (formerly known as the Gold Coast) For personal use only English official language, English code of law Low Sovereign Risk with long history of successful mining with government support World’s 10th and Africa’s 2nd largest gold producer Existing miners – Newmont, Anglogold, Goldfields
Slide 6: Ghana has some of the world's great gold mines
Ghana has some of the world’s great gold mines For personal use only Mine Owner Prod & Resource Obuasi Anglogold Ashanti 50 Moz Tarkwa Gold Fields >20 Moz Ahafo (Yamfo) Newmont 16 Moz Prestea Golden Star 10 Moz Akyem Newmont 8 Moz Castle Minerals Limited
Slide 7: Castle Projects
Castle Projects For personal use only • Seven gold projects in Ghana - 2,000 km2 of tenure • Ashanti Belt – Akoko, Banso, Bondaye • Sefwi Belt – Antubia, Sunyani • Bolgatanga Belt – Sapelliga, Ducie Castle Minerals Limited
Slide 8: Progress since listing
Progress since listing For personal use only Gridded 850 line km & collected 17,911 soil samples 395 exploration pits; ~ 2000m trenching Five drill programs completed: - 7,578m Acquired options over Sapelliga and Ducie Projects Discovered gold mineralisation in maiden drilling programs at
Slide 9: Sapelliga Project / Ducie Project
SAPELLIGA PROJECT For personal use only DUCIE PROJECT Castle Minerals Limited
Slide 10: Antubia Project
Antubia Project For personal use only • 294 km2 project SW of Newmont’s Ahafo mine (16 Moz) and west of Chirano Mine (2.3Moz) • Anomalous gold corridor +5.5km long x 1.5-2km wide – open to south • Max soils 70g/t, Max pit sampling 12.7g/t • Maiden drill program (Dec 06) reported 18m@2.74g/t • Follow
Slide 11: Boizan Gold Anomaly
For personal use only Boizan Gold Anomaly Castle Minerals Limited
Slide 12: Akoko Project
Akoko Project For personal use only 115 km2 PL on the Ashanti belt 10km east of the Salman gold deposit (Adamus) First Ever sampling completed March 2007 3km long anomaly defined that widens to over 500m at the intersection of a granite contact and a major NE trending cross structure with peak
Slide 13: Akoko Project
For personal use only Akoko Project Avrebo soil anomaly immediately south of tenement…. Akoko goldmine to the north Sampling March 2007 Castle Minerals Limited
Slide 14: For personal use only
For personal use only • 7 zones with values above 1g/t (inc. 23.5g/t, 15g/t, 2.3g/t and 1.4g/t gold). • Aligned along a 2 km corridor of very strong soils. • Intersection point of regional structures • Along granite contact • Ashanti belt • RC drilling in early September Castle Minerals Limited
Slide 15: Sapelliga Project
Sapelliga Project For personal use only • 183km2 project in NE Ghana • 2.5km west of 1.2MOz Youga Gold deposit • Trenching (~1998) has exposed quartz veined sediments over ~ 800m strike. Artisanal miners are active. Trench results include: • 14m @ 7.72g/t, 11m @ 2.8g/t • 3m @ 3.73g/t 3m @ 2.63g/t •
Slide 16: Sapelliga Project
Sapelliga Project For personal use only • First ever drilling Feb 07 tested 2 of 5 target areas (T1 –T5). T3 reported best intercepts of 6m@ 4.85g/t from 20m 4m@ 2.1 g/t gold from 43m 10m@ 5.23g/t from 62m • Drill spacing was nominally on 100m sections. • Trenching reported 23m@ 0.97g/t inc 15m @ 1.
Slide 17: Sapelliga Project
For personal use only Sapelliga Project Castle Minerals Limited
Slide 18: Ducie
Ducie For personal use only 1,126 km2 RL, on the Bolgatanga greenstone belt in NE Ghana 60 strike km of a major regional structure Bypassed by modern exploration Russian mapping in 1960’s identified workings SW of the licence Sampling planned for May 2007 Castle Minerals Limited
Slide 19: Ducie – Road cutting along Bolgatanga Fault
Ducie – Road cutting along approx position of Bolgatanga Fault For personal use only Castle Minerals Limited
Slide 20: Ducie
Ducie For personal use only • Anomalous gold results over 30km • 6 regionally spaced traverses (3-10km apart) • Strongly anomalous peak value of 150 ppb gold. • Cu, Pb, Zn, Ag and As analyses to test base metal potential Castle Minerals Limited
Slide 21: Banso Gold Project
Banso Gold Project For personal use only Castle Minerals Limited
Slide 22: Banso Gold Project
Banso Gold Project For personal use only Castle Minerals Limited
Slide 23: Bondaye
Bondaye For personal use only Southern Ashanti Belt Prestea goldmine (10 Moz) located 5km to the north Straddles the intersection of major Ankobra/Ashanti Belt structures Includes 5km strike of Tarkwaian/Birimian contact with associated alluvial workings Castle Minerals Limited
Slide 24: Why Invest?
Why Invest? For personal use only All interests strongly aligned with shareholders Very experienced board Excellent property portfolio Ground acquisition and targeting commenced in 2003 Initial fieldwork in 2005 - IPO May 2006 Cost efficient & successful exploration team Strong upside
Slide 25: Exploration Timetable
Exploration Timetable For personal use only • Akoko Drilling Sep/Oct 07 • Antubia Drilling Sep/Oct 07 • Antubia Soil Sampling Sep/Oct 07 • Ducie Project Infill Sampling Nov 07 • Sapelliga Drilling Dec 07 • Akoko Regional Sampling Dec 07 Castle Minerals Limited
Slide 26: Gold
Gold For personal use only Newmont President Pierre Lassonde “gold will hit $US750 per ounce by Christmas 2007” Goldman Sachs “gold US$750 in 2007” The BullionDesk.com “US$780 in the fourth quarter 2007” Merrill Lynch “average $675 this year” Yamada Technical Research (New York) “$730 this year on i
Slide 27: Contact
Contact For personal use only Castle Minerals Limited Michael Ivey Level 3, 10 Outram St Managing Director West Perth, Western Australia Phone +618 9322 7018 PO Box 437 Fax +618 9481 2335 West Perth, Western Australia 6872 Mobile +61 (0)419 868 787 Email: mivey@castleminerals.com Phone +618 9322 701