Castle Resources Provides San Ramon Update
Castle Resources Inc. (TSX VENTURE: CRI) (“Castle” or the “Company”) is pleased to provide an update to investors about its San Ramon silver project in Mexico.
In 2006, Castle acquired the San Ramon project within Mexico’s Zacatecas Silver District. The project is comprised of eight concessions totaling 312.2 ha., approximately five kilometres northeast of the city of Zacatecas. The property is adjacent to Capstone Mining Corporation’s recently commissioned Cozamin Mine.
Following the diamond drilling program in 2007 on the five vein systems in the northern portion of the Claim Group (La Platosa, Veta Fuerte, San Fernando, San Miguel and El Salvador), Castle Resources expanded exploration on the southern portions of the claim group.
In early 2008, prospecting began on the La Esmeralda and Evelyn claims. Initially, 10 additional vein/breccia zones were discovered on the La Esmeralda and Evelyn claims that collectively totaled approximately 500 to 600 meters in length and collective totaled approximately 200 meters in overall width. The thickness of each individual zone was approximately 4 to 10 meters, and the distance between vein/breccias was approximately 15 to 20 m. Composite chip/grab samples collected from most of the vein/breccia zones were anomalous in silver and zinc, according to preliminary analytical results. Many of these vein/breccias have evidence of previous excavations. The overall trend of the vein/breccia zones is parallel or sub parallel to the main NW-SE trend of the San Ramon vein.
In the central portion of the Evelin claim, there appears to be a continuation of the vein/breccia zones from the La Esmeralda claim. Approximately 12 veins/breccias were identified that collectively total approximately 900 m in length and approximately 350 to 400 m in total width. Each of the vein /breccia zones appears to be approximately 4-10 meters thick, and distance between each of the veins-breccia zones appears to be approximately 10 – 20 m. The overall trend of these vein systems is the same as those found in the La Esmeralda claim and the San Ramone system to the northwest; overall NW-SE trend.
Additional prospecting and sampling on the Evelin, and La Esmeralda claims during the summer of 2008 uncovered additional vein breccia zones over and above those discovered in early 2008. Results returned from the analytical labs so far indicate the presence of a number of anomalous breccia vein systems that require further detailed mapping and sampling. Results from the 262 samples collected up until the end of August from the La Esmeralda and Evelin claims indicated the following:
GOLD: Several samples with anomalous gold values are clustered in the northern part of the La Esmeralda claim, with the highest values collected to date of 2.9 g/t Au (including 42 g/t Ag,1.98% Pb, and 0.1% Zn), and 2.73 g/t Au (including 23 g/t Ag, 2.35% Pb, 0.33% Zn and 0.11% Cu) from grab samples of silicified, oxidized metasediments within the newly discovered NW-SE trending vein system.
SILVER: Almost half (107 samples) of the 262 samples collected within the La Esmeralda and Evelin claims from the newly NW-SE trending vein system returned values of above 1 g/t Ag including; 255 g/t Ag (including 0.12% Pb) across 5.1 m from a silicified, oxidized metasediment host rock containing pyrite and microveinlets of quartz from the southeast portion of the Evelin claim; 94 g/t Ag (including 0.18% Pb) across 1.8 m from a silicified, oxidized metasediment host rock containing pyrite and microveinlets of quartz from the southeast portion of the Evelin claim along trend of the 255 g/t Ag sample; and 61g/t Ag associated with Pb and Zn mineralization from an oxidized silicified metasediment host rock in the northern portion of the La Esmeralda claim.
Going forward, Castle plans to begin a program of trenching and additional geochemical analysis with the goal of defining drill targets for a planned program beginning the 1st quarter of 2009.
This press release has been reviewed by Bradley C. Leonard, a consulting geologist who is a “Qualified Person” for this project as defined by NI 43-101.
About Castle Resources
Castle Resources Inc. is a Toronto-based junior mineral exploration company focusing on high-quality advanced exploration projects in Ontario and Mexico. The Company’s initial focus is on silver exploration and development in Zacatecas, Mexico, one of the most prolific silver camps in Mexico and the world. In December 2007 Castle signed a LOI to acquire the rights to a majority land position within the Cobalt Ontario Silver Camp one of the most prolific silver mining camps in modern history. When this acquisition closes, the company will have more than 3,000 hectares covering about 70% of The Historic Cobalt Mining Camp which began operations in 1903, producing more than 445 million ounces of silver, along with more than 45 million pounds of cobalt and significant base metal by-products, from more than 50 underground mines through the 1980s.
For more information please visit the Castle Resources’ website at www.castleresources.com
Certain statements contained in this news release may contain forward-looking information within the meaning of Canadian securities laws. Such forward-looking information is identified by words such as “estimates”, “intends”, “expects”, “believes”, “may”, “will” and include, without limitation, statements regarding the company’s plan of business operations (including plans for progressing assets), estimates regarding mineral resources, projections regarding mineralization and projected expenditures. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, risks inherent in the mining industry, financing risks, labour risks, uncertainty of mineral resource estimates, equipment and supply risks, title disputes, regulatory risks and environmental concerns. Most of these factors are outside the control of the company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
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Contacts: Castle Resources Inc. Stephen Shefsky President & CEO (416) 366-4200 Email: email@example.com Castle Resources Inc. Lenny Foreht Corporate Development (416) 364-2266 Email: firstname.lastname@example.org Website: www.castleresources.com
SOURCE: Castle Resources Inc.