Castle Minerals Ltd · ASX:CDT
Castle Minerals — Shareholder Meeting (November 2008)
25 slides from Castle Minerals's shareholder meeting presentation, Nov 27, 2008
Slide 1: 2008 Annual General Meeting
For personal use only 2008 Annual General Meeting 0 www.castleminerals.com
Slide 2: Castle History and Overview
Castle History and Overview For personal use only » Listed on the ASX in May 2006 raising $3.75m » 5 projects at IPO » 5 projects acquired since listing » 10 drilling programs completed in first 2 years » 21,000 soil samples collected » Iron ore opportunity identified 1
Slide 3: Overview
Overview For personal use only » Largest land holder in Ghana » 10 Exploration projects covering more than 10,000 sq km » Two gold discoveries in 2008 » Iron Ore exposure 2
Slide 4: Why Ghana
Why Ghana 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 ‐ very fertile geological environment » Existing miners – Newmont, Anglogold, Gol
Slide 5: World Class Gold Endowment
World Class Gold Endowment For personal use only • Obuasi (Anglo Ashanti) +50 Moz • Ahafo (Newmont) +16 Moz • Akyem (Newmont) +8 Moz • Tarkwa (Goldfields) +22 Moz • Bogoso (GoldenStar) +6 Moz • Chirano, Salman, Bibiani +2 Moz 4
Slide 6: Project Locations
Project Locations For personal use only • 10 projects • in three highly prospective geological belts • over 10,000 sq km pegged • Largest land holder in Ghana 5
Slide 7: 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 mine • Mineralisation discovered north and south of internal granite in 2007 and ‘08 • Ashanti Belt 6
Slide 8: Akoko North Gold Discovery
Akoko North Gold Discovery Akoko North For personal use only • Discovered May 2008 • Soil anomaly over 2 km • +1g/t intercepts on every line of first drill program • >1km mineralised trend 7
Slide 9: Akoko North
Akoko North For personal use only • Extensive shallow oxide mineralisation up to 150m wide that offers obvious open cut opportunities 8
Slide 10: Akoko North
Akoko North For personal use only • +2km open ended soil anomaly • drill intercepts reported over 1km and open ended • oxide mineralisation • easy access • next steps ‐ infill and step out drilling 9
Slide 11: Akoko West
Akoko West For personal use only • New granted PL • Highest tenor anomaly defined at Akoko +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… 10
Slide 12: Wa Project
Wa Project For personal use only • 8,200km2 licence option to acquire 100% from Newmont (Ghana) • Known gold deposits to the north (Kunche +0.5Moz) and within an internal excision (Julie ~0.3 Moz) • Numerous targets identified by CDT from a 2,000 sample regional soil program (Feb 08) 11
Slide 13: Wa High grade rock chips
WA PROJECT Wa High grade rock chips For personal use only 12
Slide 14: Wa Project Julie West Vein
Wa Project Julie West Vein For personal use only • Discovered June 2008 • 44 samples average 13.2 g/t gold • 500m long laminated pyritic quartz vein occurring as one continuous vein • thickening to 20m wide where structure intersects geological contact 13
Slide 15: Wa Project – Julie West quartz vein
Wa Project – Julie West quartz vein For personal use only » channel samples across the interpreted true width of the vein averaged – 20m @ 7.39 g/t gold and – 10m @ 8.41 g/t gold » Drilling November 2008 14
Slide 16: Julie West – channel sample 20m @ 7.39 g/t gold
Julie West – channel sample 20m @ 7.39 g/t gold For personal use only 15
Slide 17: Julie West – wet season
Julie West – wet season For personal use only 16
Slide 18: Julie West – wet season
Julie West – wet season For personal use only 17
Slide 19: Julie West – wet season
Julie West – wet season For personal use only 18
Slide 20: Wa Project – Julie West quartz vein
Wa Project – Julie West quartz vein For personal use only » Qtz veining intersected in all 21 holes on 10 drill fences » Geometry is consistent and appears to be a single vein system » Pyritic quartz vein up to 15m true width » Results expected in ~2 weeks 19
Slide 21: Opon Mansi
Opon Mansi For personal use only • Opportunistic iron ore play • Application made over historic Fe resource • Discovered by Ghana Geological Survey in 1963 • Iron ore located on 15 hills over 24km strike • Geological Survey exploration in 1963‐64 consisted of pitting, trenching and drilling 20
Slide 22: Opon Mansi
Opon Mansi For personal use only • Fe mineralisation defined from surface to 27m depth • Geol. Survey reported a mineralised estimate to 10m depth, of ~ 150 million long tons with an iron content between 43‐ 56% Fe Wuowuo Hill at Opon Mansi 21
Slide 23: Opon Mansi
Opon Mansi For personal use only • Located 8km from Takoradi‐Kumasi railway line • Located 120km from Takoradi port 22
Slide 24: Opon Mansi
Opon Mansi For personal use only • Beneficiation the key to produce DSO product • Located within Opon Mansi Forest Reserve • Castle awarded a Due Diligence Permit from the Ghana Minerals Commission • METS appointed as metallurgical consultant • Test pits for Perth based beneficiation testwork planne
Slide 25: Strategy Going Forward
Strategy Going Forward For personal use only • Build on previous two years of grass roots exploration where $5M has been successfully invested • Drill targets identified at Akoko and Wa Projects • Define near surface gold JORC compliant resources at Akoko and Wa • Rationalise projects • Continue pro
Castle Minerals — Shareholder Meeting (November 2008) on 6ix