Re: we need news....but here it is , read em & wheep:
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posted on
Feb 14, 2008 06:17AM
TORONTO, ONTARIO--(Marketwire - Feb. 14, 2008) - Castle Gold Corporation ("Castle Gold" or the "Company") (TSX VENTURE:CSG) is pleased to announce that a recently completed drill program has extended known gold mineralization at the Bridge Zone in Guatemala. The drill program, consisting of four holes aggregating 220.2 metres, was completed to examine the potential for Southern and Eastern extensions of the known mineralized area. The results demonstrated that the Bridge Zone remains open to the South, East and West, and that the mineralized zone appears to be increasing in thickness to the South and East.
Results for the four reverse circulation drill holes are tabulated below:
Drill Hole BDG-07-01, Dip - 90 degrees, Total Depth - 51.30 metres
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From (m) To (m) Length (m) Au (g/t)
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0.00 22.86 22.86 2.99
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Including
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7.62 13.72 6.10 8.95
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Drill Hole BDG-07-02, Dip - 90 degrees, Total Depth - 88.00 metres
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From (m) To (m) Length (m) Au (g/t)
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38.10 48.77 10.67 0.56
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And
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67.06 71.63 4.57 0.92
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Drill Hole BDG-07-03, Dip - 90 degrees, Total Depth - 57.00 metres
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From (m) To (m) Length (m) Au (g/t)
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18.29 27.43 9.14 0.56
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Drill Hole BDG-07-04, Dip - 90 degrees, Total Depth - 23.85 metres
(hole ends in mineralization)
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From (m) To (m) Length (m) Au (g/t)
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21.34 23.86 2.52 0.48
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As detailed in a previously released National Instrument 43-101 Compliant Technical Report and Resource Estimate ("the Report") prepared by Toren K. Olson, P.Geo. of Toren Olson Consulting (see April 24, 2007 press release), the current inferred mineral resource at the Bridge Zone is estimated at 69,700 oz of gold from 1.26 million tonnes with a grade of 1.71 g/t Au, using a cut-off grade of 0.5 g/t Au. The Bridge Zone is a flat-lying, near-surface lens.
Darren Koningen (P. Eng.), Vice-President - Operations, is the Qualified Person under National Instrument 43-101 for the Bridge Zone. Mr. Koningen notes that "the drill results at Bridge are significant because the majority of the holes were drilled outside of the known resource area and the gold mineralization appears to be getting thicker to the South and East. Moreover, the Bridge Zone is approximately four kilometres west of our producing El Sastre Mine, and much of our land package between the two Zones remains untested."
Bridge is the Western-most zone of the four known mineralized zones comprising Castle Gold's El Sastre Project, including the El Sastre Main Zone, where the Company has been producing gold since late 2006. Under the terms of an option agreement with its Guatemalan partners, Castle Gold may earn up to 70% in the Bridge Project.
Castle Gold intends on completing approximately 1,500 metres of step-out drilling in 2008 at the Bridge Zone. In addition a program of stream and soil sampling will be initiated to examine previously unexplored areas of the concession. A metallurgical program is presently underway to determine the known Zone's amenability to heap-leach and conventional milling techniques.
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 Durango, 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.
Current issued and outstanding share capital: 73,760,782
BB
Numbers look low but on an open pit might be OK. also 1500 M gap