VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 25, 2011) - Duncastle Gold Corp. (News - Market indicators)(FRANKFURT:5D3) announced today that it has commenced drilling on its Porphyry Creek project located 30 kilometers northwest of Smithers, in northwest British Columbia.
Up to six holes totaling 2,400 metres are planned to follow up on Duncastle's copper-molybdenum porphyry discovery at the Sultana mine area announced December 16, 2010. The holes target an 800 meter by 1,200 meter area of coincident high conductivity and low magnetic susceptibility located to the west and to the north of the 2010 discovery holes. Copper grade in the 2010 drill results was noted to increase down hole towards the magnetic low anomaly, with hole PC-10-01 ending in 30 meters of 0.2% copper (see figure at
http://www.duncastlegoldcorp.com/uploads/tinymce/2010_results_for_web_large.jpg).
Exploration work is also planned for summer 2011 at less advanced targets on the large (135 square kilometer) Porphyry Creek property. Reconnaissance ground geological work and a geochemical survey program are planned for the west side of the claim group with potential ground geophysics and drilling to follow. Priority targets include a large 2km x 2km conductive airborne anomaly with high IOCG/skarn potential in the northwest corner of the claim block, and the Brian Boru prospect and Brunswick Mine, both of which are currently interpreted as distal, high-grade polymetallic veins. The area of the historic Brunswick Mine features co-incident geophysical anomalies including a strong EM response (conductive high). Select dump and talus samples returned 2,566g/t Ag, 11.1% Pb and 19.4% Zn in one sample and 1,131g/t Ag, 4.9% Pb and 4.1% Zn in a second from the area of the Brunswick Adit. In addition, stream sediment sampling in these areas from Duncastle's 2008 exploration program returned anomalous copper, gold and silver values. The Brian Boru prospect area shows a strong conductive high (EM anomaly) co-incident with highly mineralized samples from the 2008 program (including 152g/t Ag and 22% Zn from a massive sulphide boulder), and anomalous copper and silver values in stream sediment sampling (also from the 2008 program).
The MT area south of Sultana has a more muted geophysical response but features high-grade historic rock select chip samples including 5,187g/t Ag and 2.34% Cu in one sample, 23.0g/t Au, 1,817g/t Ag and 1.09% Cu in a second, and 5.1g/t Au, 2,846g/t Ag and 3.65% Cu in a third(1). Geologic mapping by Amax Exploration in 1967 identified an intrusive body with an accompanying 1,000 x 300 meter zone with strong alteration and pyritic mineralization. Concurrent geochemical sampling returned some anomalous copper and molybdenum values, but outcrops were extensively leached, making the mineral potential impossible to evaluate on surface. The zone corresponds well with the southern extension of a strong conductivity (EM) response seen in Duncastle's 2010 airborne geophysical survey.
Other targets include Tina West, Tina North, and Porphyry East targets which will be prioritized as additional surface data is acquired.
A figure summarizing the other targets at Porphyry Creek is available at http://www.duncastlegoldcorp.com/uploads/tinymce/other_targets_large.jpg.
(1) Historical results are compiled from government databases and predate NI 43-101. Duncastle has not independently verified past exploration results.
About Duncastle Gold
Duncastle Gold Corp. is a Vancouver-based gold exploration company with mineral claims covering or surrounding past producing mines in northwest and southeast British Columbia, Canada. Duncastle has assembled contiguous claim blocks totaling more than 210 sq km in these two historic and productive regions.
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 C$300 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.
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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