VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 6, 2013) - Duncastle Gold Corp. ("Duncastle") (News - Market indicators)(FRANKFURT:5D3) reported today that it has received the final data and maps from a detailed, helicopter-borne electromagnetic and magnetic survey completed by Fugro Airborne Surveys on its recently acquired Drayton gold project, located 10 kilometers south of Sioux Lookout and 70 kilometers east of Dryden in northwest Ontario.
The survey is particularly informative as the property, which lies on an emerging high-grade gold trend and is on strike with Tamaka Gold Corp's Goldlund project and Treasury Metal Inc's Goliath project to the southwest as well as Duncastle's recently optioned Black Lake project to the northeast, has previously seen only very regional geophysical studies. Typical of the region, much of the Drayton project is occluded by extensive but shallow ground cover and therefore remains largely unexplored by past drilling campaigns.
Initial analysis of the current survey has revealed a possible dilation zone within the Sioux Lookout fault system with significant structural disturbance indicative of both alteration and deformation. These in turn present excellent targets for follow-up by subsequent geological studies and potential drilling programs later in 2013 as excellent exploration potential is believed to exist for high-grade gold mineralization similar to that found elsewhere in the Wabigoon Archean greenstone belt.
A full structural and geophysical interpretation of the airborne geophysics is underway; additional targets and a thorough ground investigative program are now being developed.
About Duncastle Gold
Duncastle Gold Corp. is a Vancouver-based exploration and development company with 100% ownership potential on projects totaling over 510 square kilometers in Ontario and British Columbia, Canada. In addition to three newly acquired gold projects in Ontario and the past-producing Yankee-Dundee Mine in southeast BC, Duncastle controls the highly prospective polymetallic Porphyry Creek project in northwest BC.
As part of the Manex Resource Group, Duncastle benefits from shared expertise in corporate finance, public company administration, investor relations, and technical and geological services provided for seven public companies active in North America. Since its formation in 1997, the Manex Group companies have raised over $350 million in exploration financing.
Rob Macdonald, (P.Geo.), is the Qualified Person responsible for reviewing the technical results in this release.
On behalf of the Board of Directors,
Michael Rowley, President, Director,
Duncastle Gold Corp.
For further information, please visit the company's website at duncastlegoldcorp.com.
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Duncastle Gold Corp. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
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