Castle Resources Announces Complete 2012 South Zone Drill Results from the Granduc Copper Project, B.C.
Published : October 25, 2012

- Positive South Zone drilling identifies new zones of high grade copper mineralization near surface

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Keywords :   Copper | Diamond | Market | Report |

TORONTO, ONTARIO--(Marketwire - Oct. 25, 2012) - Castle Resources Inc. (News - Market indicators) ("Castle" or the "Company") is pleased to announce its 2nd positive set of drill core assay results from the recently completed surface exploration program at the Granduc Copper Project located near Stewart, B.C.

"As part of our overall objective of growing the inferred copper resource at the Granduc, our 2012 strategy on the South Zone was designed to identify near surface mineralization and target higher grade zones at depth," stated Mr. Mike Sylvestre, President & CEO of Castle Resources. "I am pleased to report drilling was very successful; first, we further delineated the up-dip extent of copper mineralization in the foot wall zone thorough a series of shallow holes, and second, we encountered deeper copper intersections immediately adjacent to our current NI 43-101 resource estimate."

Mr. Sylvestre continued, "At this juncture we can clearly state that these new exploration results confirm that the South Zone is in fact an extension of Main Zone mineralization. In other words, it is all part of the same mineralized system, a large VMS Besshi-style copper rich environment that notably remains open to the south and at depth."

Granduc 2012 Drilling Results - Shallow SZ Foot Wall Lens Targets      

Complete Assays for Holes GD12-06, GD12-08 & GD12-14B

Note: all widths are downhole thickness

Hole   Start (m)   End (m)   Width (m)   % Cu   Au (g/t)   Ag (g/t)   %Fe
                             
GD12-06   68.84   77.24   8.4   2.56   0.27   23.91   28.64
                             
                             
GD12-08   75.28   84.3   9.02   1.35   0.15   10.71   12.61
                             
                             
GD12-14B   89   102   13   1.26   0.11   10.69   10.24
                             
   
Note: a) GD12-06 previously released (see press release dated July 16, 2012)
  b) GD12-09 - no reportable copper mineralization encountered

Granduc 2012 Drilling Results - Deeper SZ Targets      

Complete Assays for Holes GD12-01, GD12-02, GD12-03, GD12-5A, GD12-07,  GD12-13 & GD12-17      

Note: all widths are downhole thickness

Hole   Start (m)   End (m)   Width (m)   % Cu   Au (g/t)   Ag (g/t)   %Fe
                             
GD12-01   262   279.8   17.8   1.28   0.12   5.77   19.76
Inc   271.62   277   5.38   1.83   0.2   8.8   36.09
                             
And   289.5   315   25.5   1.81   0.23   7.13   13.99
Inc   295.49   311   15.51   2.2   0.31   10.65   19.61
                             
And   397   421.46   24.46   1.4   0.17   10.21   10.2
                             
                             
GD12-02   550.5   558   7.5   1.97   0.2   23.61   9.36
                             
                             
GD12-03   508   529   21   1.47   0.14   2.08   18.11
Inc   515.5   523   7.5   1.94   0.18   2.09   15.86
                             
                             
GD12-5A   240   247   7   1.20   0.10   1.34   12.24
                             
And   295   300   5   1.63   0.17   10.20   12.90
                             
                             
GD12-07   616.5   627   10.5   1.01   0.08   2.03   18.79
                             
                             
GD12-13   452   461   9   1.19   0.20   15.69   8.33
                             
                             
GD12-17   279   288   9   2.19   0.31   30.56   15.01
                             
   
Note: a) GD12-01, GD12-02 & GD12-03 previously released (see press release dated July 16, 2012)
  b) GD12-4A, GD12-10 & GD12-15B - no reportable copper mineralization encountered

Brad Leonard, P. Geo., Castle's Exploration Manager, is the Qualified Person responsible for the scientific and technical work (as defined under National Instrument 43-101) discussed in this press release, and has reviewed this press release. Castle implemented a QA/QC protocol for all its exploration and Diamond drilling program on the Granduc.

About Castle Resources

Castle is a Toronto-based junior mineral development company focused on the exploration and redevelopment of the 100% owned past producing Granduc Copper Mine. Castle currently has 173 million shares outstanding shares. For more information please visit the Castle Resources website at www.castleresources.com.

Disclaimer

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.

This news release does not constitute an offer to sell or solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

To view the map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/828720_map.pdf.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Castle Resources Inc.
Mike Sylvestre
President & CEO
416-366-4100
msylvestre@castleresources.com
or
Castle Resources Inc.
Lenny Foreht
VP Corporate Development
416-366-4100
lforeht@castleresources.com

Castle Resources Inc.

EXPLORATION STAGE
CODE : CRI.V
ISIN : CA1484771029
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Castle Res. is a copper exploration company based in Canada.

Its main exploration properties are GRANDUC COPPER MINE and ELMTREE in Canada.

Castle Res. is listed in Canada. Its market capitalisation is CA$ 23.0 millions as of today (US$ 18.4 millions, € 16.1 millions).

Its stock quote reached its highest recent level on April 08, 2011 at CA$ 0.95, and its lowest recent point on December 19, 2014 at CA$ 0.01.

Castle Res. has 191 990 000 shares outstanding.

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Annual reports of Castle Resources Inc.
Annual report 2006
Financings of Castle Resources Inc.
2/18/2011Castle Res. completes 12 001 750 private placement and issue...
2/18/2011Castle Res. completes 12 001 750 private placement and issue...
2/18/2011Completes $12,001,750 Private Placement
Nominations of Castle Resources Inc.
7/10/2013Appoints KPMG Corporate Finance as Financial Advisor
6/23/2011Appoints Mike Sylvestre as Chief Executive Officer
Project news of Castle Resources Inc.
4/24/2013Announces Filing of Preliminary Economic Assessment and Opti...
2/28/2011(Granduc Copper Mine)NI 43-101 Resource Estimate for Granduc Copper Project Excee...
10/26/2010(Granduc Copper Mine)Confirms Significant Copper Mineralization at the Granduc Co...
Corporate news of Castle Resources Inc.
9/12/2013Provides Corporate Update
7/18/2013Announces Mr. Tyler Mitchelson Appointed New Director
6/27/2013Announces Closing of $200,000 Offering
5/3/2013Announces Acquisition of Common Shares of GreenBank Capital ...
3/15/2013Announces Closing of $1.9 Million Offering
12/12/2012Reports New Granduc Resource Estimate With a Significant Inc...
10/25/2012Announces Complete 2012 South Zone Drill Results from the Gr...
10/10/2012Provides Corporate Update on Its Granduc Copper Project, B.C...
10/2/2012Announces Closing of $5.48 Million Offering
9/21/2012Announces Pricing of Previously Announced $6.5 Million Offer...
6/7/2011Initiates Baseline Environmental Studies at Granduc Copper P...
5/26/2011to Rehabilitate 17 km Tunnel at its Granduc Mine, British Co...
4/28/2011Provides Operations Update for the Granduc Copper Project
2/10/2011Adopts Shareholder Rights Plan
10/19/2010Acquires 100% Interest in Granduc Copper Project
1/14/2008Letter of intent to acquire Cobalt Silver camp
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