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Castle Gold Corporation

Publié le 27 septembre 2007

Sells First El Castillo Gold At Us $715 Per Ounce

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Mots clés associés :   Canada | Fortuna | G Mexico | Guatemala | K Street |

 

 

Suite 1101, 55 University Avenue Toronto, Ontario

Canada   M5J 2H7

                                               

       Telephone:    (416) 214-4809

         Facsimile:    (416) 214-4877

www.castlegoldcorp.com

 

 

 

News Release 2007-04

 

Castle Gold Sells First El Castillo Gold At Us $715 Per Ounce

 

TORONTO, ON, September 27, 2007 - Castle Gold Corporation ("Castle Gold" or the "Company") (TSX-V: CSG) announces the first gold sale from its 100% owned El Castillo mine in Durango, Mexico.  The Company capitalized on the recent increase in the price of gold by selling 450 ounces at an average realized price of US$715 per ounce.  This first sale of El Castillo gold represents production from the first month-and-a-half of pre-production leaching that began in July.

 

Production at El Castillo is ramping up to the initial operating rate of 200,000 tonnes of ore and waste per month.  Ore is currently being placed on the leach pad at a rate of 75,000 tonnes per month and will increase to 100,000 tonnes per month over the next two months as the pit is developed.  Further increases to Castillo's production rate are planned for 2008.

 

The El Castillo mine is expected to be producing at a rate of 15,000 ounces of gold per year by year end.  The gold production rate is forecast to increase to 30,000 ounces per year during 2008.  Consideration will also be given to expanding the production rates beyond 30,000 ounces of gold per year through one or two additional expansions.

 

"I am very pleased that our mine building team has successfully built a second mine in less than two years," stated Christopher Babcock, President and CEO of Castle Gold.  "This tremendous achievement epitomizes our mining objectives of focusing on the fundamentals, enhancing efficiencies, growing production rates, and thereby profitability, at our two producing gold mines.  We could not be more excited about the timing of these events with the price of gold extending to new highs coincident with the ramp-up of the gold production at El Castillo."

 

Darren Koningen (P. Eng.), Vice-President - Operations, is the Qualified Person under National Instrument 43-101 for the El Castillo Mine.

 

Castle Gold is a growth oriented gold producer focused on expanding gold production within the Americas.  Castle Gold owns a 100% interest in the El Castillo gold mine in Mexico and a 50% interest in the El Sastre gold mine in Guatemala.  Castle Gold is also advancing exploration and development work at its La Fortuna gold project in Mexico and at its El Sastre, Bridge and Lupita projects in Guatemala.

 

For further information about Castle Gold contact:

Court Babcock, Investor Relations (778) 928-5006 or Toll-free 1-866-646-3274

Coal Harbor Communications Inc. (604) 662-4505 or Toll-free 1-877-642-6200

Current issued and outstanding share capital:  70,195,647

 

CAUTION REGARDING FORWARD LOOKING STATEMENTS:

The information referred to referred to above contains  "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the future price of metals, timing of exploration activities, mine life, economic viability and estimated internal rate of return, estimation of mineral resources, the results of drilling, estimated future capital and operating costs, future stripping ratios, projected mineral recovery rates and plans for developing, the projects.  Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might" or "will be taken", "occur" or "be achieved".   Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the companies to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and potential development of the projects, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of metals.  Although the companies have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.  There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.  Accordingly, readers should not place undue reliance on forward-looking statements. The companies do not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

 

 

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.

 

Dale Paruk
Coal Harbor Communications Inc.
Suite 701, 555 Jervis Street
Vancouver BC V6E 4N1
Tel: 1+ (604) 662-4505
 

 

Données et statistiques pour les pays mentionnés : Canada | Guatemala | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Guatemala | Tous

Castle Gold Corporation

PRODUCTEUR
CODE : CSG.V
ISIN : CA22122T1030
Suivi et investissement
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Castle Gold Corp. est une société de production minière d'or basée au Canada.

Castle Gold Corp. est productrice d'or, d'argent au Guatemala et au Mexique.

Ses principaux projets en production sont EL SASTRE GOLD MINE, EL SASTRE, EL SASTRE - EL ARENAL, EL SASTRE BRIDGE ZONE et EL SASTRE - LUPITA ZONE au Guatemala et EL CASTILLO MINE au Mexique et son principal projet en exploration est LA FORTUNA DURANGO au Mexique.

Castle Gold Corp. est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 776 300 CA$ (596 819 US$, 545 553 €).

La valeur de son action a atteint son plus haut niveau récent le 18 janvier 2008 à 0,75 CA$, et son plus bas niveau récent le 30 juillet 2015 à 0,01 CA$.

Castle Gold Corp. possède 77 630 000 actions en circulation.

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Rapports annuels de Castle Gold Corporation
Annual Report 2007
Financements de Castle Gold Corporation
25/06/2014Cosigo announces non-brokered private placement
Nominations de Castle Gold Corporation
24/11/2014Cosigo announces resignation of two directors
02/07/2008Appoints New Chief Financial Officer and Manager of Investor...
Rapports Financiers de Castle Gold Corporation
25/11/2009Reports Third Quarter 2009 Operating and Financial Results
26/08/2009Reports Second Quarter 2009 Operating and Financial Results
23/01/2009(El Castillo Mine)Increase in Fourth Quarter 2008 Production
27/11/2008Third Quarter Financial Results
20/06/2008Files Q1-2008 Financial Statements Indicating First Quarter ...
13/06/2008Filing Of First Quarter Financial Statements Delayed Cease T...
07/09/2007Records Strong Second Quarter Results: Cash Costs Fall To $1...
Projets de Castle Gold Corporation
09/11/2009(La Fortuna Durango)Reports Up to 39 Grams Per Tonne Gold and Up to 1,500 Grams ...
21/10/2009(El Castillo Mine)Q3-2009 Operating Performance-El Castillo Gold Production In...
21/07/2009(El Castillo Mine)Operation of Remaining New Equipment Fleet at El Castillo Mi...
09/06/2009(El Castillo Mine)Intersects 42,7 Metres Grading 0,7 Grams Per Tonne Gold as P...
21/05/2009(El Castillo Mine)Intersects 109.7 Metres Grading 0.7 Grams Per Tonne Gold
02/03/2009(El Castillo Mine)Commences Drill Program to Test Gold Resource Expansion Pote...
24/02/2009(El Castillo Mine)625,000 Ounce Transition/Sulphide Zone Gold Resource Below E...
02/12/2008(La Fortuna Durango)Completes Phase 1 of Metallurgical Studies for La Fortuna Pr...
12/11/2008(La Fortuna Durango)43-101 Technical Report
20/08/2008(El Castillo Mine)Reports Enhanced Resources And Reserves And Resulting Increa...
11/08/2008(El Castillo Mine)Attains Commercial Production At Its El Castillo Gold Mine...
16/01/2008(La Fortuna Durango)Commences Drilling at La Fortuna Gold Project
10/01/2008(El Castillo Mine)Updates Progress at Castillo Mine
Communiqués de Presse de Castle Gold Corporation
03/08/2015Cosigo Requests NEX Listing
06/07/2015Cosigo Appoints Officers
11/05/2015IIROC Trading Halt - CSG
29/04/2015IIROC Trading Resumption - CSG
27/04/2015Cosigo Board Structures Acting Positions
07/03/2015Cosigo Board Appoints Two New Members
23/02/2015Cosigo Board and Management Resign
18/02/2015IIROC Trading Halt - CSG
26/11/2014Cosigo Engages Financial Advisory Services
15/10/2014Cosigo announces formation of strategic committee; Provides ...
31/07/2014Cosigo Resources Ltd. - President's Update
04/02/2014Cosigo reports further gold-bearing intercepts at Machado
20/12/2013Cosigo intersects gold in initial two drill holes at Machado
09/12/2013Cosigo adds Romero as Colombia Business Advisor
18/06/2013Cosigo Resources Ltd. Closes $1,113,775 Private Placement
21/05/2013Cosigo Resources announces non-brokered private placement
30/12/2009Over 90% of Castle Gold Shares Tenderedto Argonaut Offer-Arg...
15/12/2009Reminds Shareholders to Tender to Argonaut Gold Cash Offer
24/11/2009Provides an Update on Argonaut Gold Cash Offer
18/11/2009Closes Financing & Provides Up
30/10/2009 Management Change
28/10/2009Argonaut Gold Seeks to Acquire Castle Gold for a Minimum of ...
16/07/2009Provides Update on Strategic Alternative Review Process
18/06/2009Provides Update on Strategic Alternative Review Process
28/05/2009Reports Record Quarterly Gold Production and $0=2E01 Per Sha...
02/03/2009Committee Update and Shareholder Rights Plan
05/11/2008Announces Stock Repurchase Program
30/09/2008(CSG) at Toronto Cambridge Resource Investor Conference Oct...
26/09/2008Provides Update on Corporate Restructuring Initiatives
10/09/2008Announces Change to Its Board of Directors
04/07/2008Announces Results of Annual General Meeting
27/09/2007Sells First El Castillo Gold At Us $715 Per Ounce
17/09/2007Announces Early Exercise Warrant Incentive Amendment
11/09/2007 presenting at the 2007 Annual Resource Investors Forum in S...
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