Castle Minerals Ltd · ASX:CDT
Castle Minerals — Sydney Resource Roundup May 2013
28 slides from Castle Minerals's conference presentation, May 13, 2013
Slide 1: Castle Minerals Limited – Sydney Resource Roundup May 2013
For personal use only Castle Minerals Limited Sydney Resource Roundup May 2013 ASX: CDT www.castleminerals.com
Slide 2: Disclaimer and Competent Person Statement
Disclaimer and Competent Person Statement For personal use only This presentation does not constitute investment advice. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any
Slide 3: Experienced Board and Management
Experienced Board and Management For personal use only Michael Ashforth - Non Executive Chairman, Executive director of Macquarie Capital. Former MD of Gresham Advisory Partners and partner of Freehills. Michael Ivey – Managing Director & CEO Geologist, 25 years corporate, technical, exploration and
Slide 4: Market Statistics
Market Statistics For personal use only Issued Shares 113.7 m Options (40c) 1.05m Market Cap $5m Cash $1.7m % Issued Capital Azumah Resources 17% Tight Capital Structure Lujeta Pty Ltd 8.9% Register includes; Dave Harper 7.5% ASX listed Azumah Resources Bridgelane Pty Ltd 6.7% HSBC Custody Nominees
Slide 5: Summary
Summary For personal use only >11,000km2 in 5 project areas in Ghana, West Africa 60 gold targets identified: 26 targeted for drilling Currently RC drilling Bundi and Jango gold prospects CDT to receive cash and shares from Merah Resources (MEH) following recent farm out of non-core projects
Slide 6: Projects in Ghana
For personal use only 5 Projects in Ghana Own/operator RAB rig, drilling ~5,000m/mth @ ~$5/m Huge flexibility and cost advantages. +40,000m drilling for 2013 season is well underway Focus on Wa and Akoko Projects 6
Slide 7: Wa Project
Wa Project North West Ghana For personal use only ~10,000km2 Good title - 3 RL’s, 18 PL’s/PLA’s No historic minerals exploration drilling 3 gold discoveries by CDT Julie West 415,000t @ 4.2g/t Danyawu 72,000t @ 5.5g/t Kandia 107Koz 60 Gold targets identified Kambale Graphite deposi
Slide 8: Wa South – Bundi Prospect
Wa South – Bundi Prospect For personal use only Two new gold targets defined from shallow RAB drilling • 1,400m long 20-60m Bundi gold anomaly • New zone of bedrock gold 4km south of Bundi No prior exploration, alluvial cover (2- 6m) over entire area RC drilling underway May 2013 testing both areas
Slide 9: Wa South – Bundi Prospect
Wa South – Bundi Prospect For personal use only • 1,400m long 20-60m bedrock gold anomaly • Most holes ended in mineralisation • Average hole depth ~ 12m • Birimian metasediments beneath thin alluvial cover First RC drill test May 2013
Slide 10: Wa South – Bundi Prospect
Wa South – Bundi Prospect For personal use only • New gold target 4km south of Bundi. RAB intercepts: • 10m @ 1.19 g/t gold from 5m • 10m @ 1.80 g/t gold from 16m • 2m @ 1.90 g/t gold from 4m • 2m @ 3.28 g/t gold from 15m • Open to the north and RAB drilling completed - assays awaited • Birimian met
Slide 11: Wa Project - Jango Prospect
Wa Project - Jango Prospect For personal use only • New 300m long zone of quartz veining and artisanal workings defined at Jango prospect • Rock chips up to 61/g/t gold • RC Drilling May 2013
Slide 12: Wa Project - Julie West
Wa Project - Julie West For personal use only
Slide 13: Wa Project – Julie West
Wa Project – Julie West For personal use only • Two shallow discoveries of high grade vein style gold mineralisation totalling 487,100t @ 4.4 g/t gold • Julie West 415,000t @ 4.2 g/t gold • Danyawu 72,200t @ 5.5g/t gold • Both near surface/outcropping deposits with excellent open pit potential
Slide 14: Kandia Prospect
Kandia Prospect For personal use only A +20km granite/sediment contact zone hosting sediment hosted gold mineralisation. Soils and RAB drilling planned with aim of extending known mineralisation and test parallel and strike extent targets New area of artisanal mining activity
Slide 15: Kandia West Prospect
Kandia West Prospect For personal use only Multiple new gold anomalies over a 3km long corridor. This is a new gold target that will be subject to detailed exploration and drilling Q2 2013 Area of geophysical survey
Slide 16: Baayiri Prospect
For personal use only Baayiri Prospect
Slide 17: Circular Aeromagnetic Anomalies on Wa Project
Circular Aeromagnetic Anomalies on Wa Project For personal use only Numerous discrete circular features identified from magnetics. Initial drilling of 8 pipes completed Two of the target pipes drilled (D and F) were found to be of ultramafic composition with multi element analyses placing them i
Slide 18: Kambale Graphite Deposit - North West Ghana
Kambale Graphite Deposit ‐ North West Ghana For personal use only High Grade Flake Graphite zones up to 50m true width 18
Slide 19: Kambale Graphite Deposit - North West Ghana
Kambale Graphite Deposit ‐ North West Ghana For personal use only New drilling extends zone to +2km
Slide 20: Kambale Graphite Deposit - North West Ghana
Kambale Graphite Deposit ‐ North West Ghana For personal use only Maiden Resource for Kambale of 14.4mt @ 7.2% C (graphitic carbon) for 1.03mt contained graphite. Includes 6.0mt @ 8.6% C for 0.52mt contained graphite Ranks as one of the largest global graphite deposits Metallurgical test work
Slide 21: Kambale Graphite Deposit - North West Ghana
Kambale Graphite Deposit ‐ North West Ghana For personal use only Located in NW Ghana 8km from regional town of Wa (~50,000 people). Good infrastructure, water, power, sealed airstrip 500km sealed road to Takoradi Port Kambale RC drilling May 2012 Potential to outline a world class graphite
Slide 22: Kambale Graphite Deposit - North West Ghana
Kambale Graphite Deposit ‐ North West Ghana For personal use only Photograph of polished section of fresh sample flotation concentrate showing predominantly liberated flakes of grey graphite (100‐250 micron). 22
Slide 23: Akoko Project
Akoko Project For personal use only Ashanti Gold Belt 10km east of 2 Moz Salman Gold Project and 30km south of 22 Moz Tarkwa gold deposits Resource grade at Akoko North increased by 37% Akoko North hosts 1.1mt @ 2.2g/t gold for 77,400 ozs Combined Resource estimate totals 103,300 ozs Sco
Slide 24: Akoko Project
Akoko Project For personal use only Significant soil anomalism, extends for an aggregate 15 strike km and offers immediate new drill targets Recent exploration Akoko East success along strike of Akoko East anomalies by competitors
Slide 25: Gold Resources – Akoko Project
Gold Resources Akoko Project For personal use only Total resource of 1.7mt @ 1.9g/t gold for 103,300 Ozs Shallow oxide gold deposit 25km south of Tarkwa with compelling open pit economics Scoping studies at Akoko North captures 1.07mt @ 2.0g/t gold (68,000 ozs) Numerous exploration targets /soil ano
Slide 26: Merah Resources Option
Merah Resources Option For personal use only • Option agreements executed with Merah Resources Limited (ASX:MEH) to acquire Castle’s 100% interest in the Antubia and Kong gold projects in Ghana • Key Terms (subject to statutory approvals) MEH must issue up to 6M MEH shares to CDT for each project in
Slide 27: 2012/13 Key Objectives
2012/13 Key Objectives For personal use only Wa Project Define maiden gold resources for Danyawu and Alpha, Bravo and Charlie mineralisation Complete +40,000m of RAB drilling testing 26 separate targets (drilling commenced 1st November) Continue regional scale exploration over untested areas
Slide 28: Appendix - Resource Estimates
Appendix 1 - Resource Estimates Castle Minerals Mineral Resource Estimates - Gold For personal use only Wa Project Indicated Inferred Total Tonnes Au Tonnes Au Tonnes Au Au t Ounces t g/t t g/t Ounces Julie West 383,000 52,100 32,000 4.0 415,000 4.2 56,200 Danyawu 72,100 12,800 72,100 5.5 12,800 Kan