Castle Peak Mining Ltd. (TSX-V: CAP) is a Canadian-based explorer focused on creating long term value through the definition of a pipeline of economic deposits focusing on strong grades. The Company holds a strategic land package in Ghana's prolific Ashanti gold belt, which has yielded past production of >150 million ounces putting Ghana as the second largest gold producer in Africa. Within 50 kilometres of Castle Peak's Akorade Project there are five producing gold projects which account for nearly 50 million ounces in gold reserves and resources.
The Company recently published an inferred mineral resource estimate of 275,000 tons at 8.6 g/t Au for a total of 76,000 contained ounces
. The current inferred resource models a single shoot on the Apankrah Structure; exploration along this structure and on parallel structures will target potential to significantly increase the resource within the Apankrah Target Area. Castle Peak has also completed initial metallurgical analysis on assay sample rejects resulting in >97% gold recovery using gravity and CIL recovery processes; gravity test work captured 85% of the gold in 1% of the mass.
The Company has also built a solid approach to understanding the two key structural trends on its 225 square kilometer land package. Castle Peak's staged development of the higher grade Apankrah Target Area with eventual expansion to potentially larger deposits within key structural corridors provides a solid strategy for increasing shareholder value and attracting potential partnership interest.
- Located in politically stable, mining friendly jurisdiction
- 225 square kilometre land package with promising high-grade resource and significant blue sky potential on two key structural trends in the southern Ashanti belt
- Encouraging exploration results similar to neighbouring deposits
- Quality systematic exploration program
- Management team with respected track records