Cardinal Resources Limited (ASX:CDV) (TSE:CDV) is pleased to announce the appointment of two new Non-Executive Directors, namely, Jacques McMullen, P.Eng., MASc., ICD.D (Canadian Resident) and Michele Muscillo, LLB (Hons) (Australian Resident). These appointments are effective immediately.
NewCastle Gold Ltd
NewCastle Gold (TSE:NCA) (an Augusta Group company) has a 100% interest in the Castle Mountain property in San Bernardino County, California. The Castle Mountain heap leach gold mine produced over one million ounces of gold from 1991 to 2004. The Mine and Reclamation Plan, under which the mine operated, was authorized by the County of San Bernardino as the Lead Agency and remains in effect. Water for the drill programs was accessed from existing patented wells on the Project.
The 2017 resource statement will be updated when the new NI43-101 Technical Report for the updated resource is posted on SEDAR on or before October 27th 2017. In the meantime please refer to the NI 43-101 resource for the Project was announced December 2, 2015 which includes Measured Mineral Resources of 17.4 million tonnes grading 0.86 g/t gold containing 0.48 million gold ounces, Indicated Mineral Resources of 202.5 million tonnes grading 0.57 g/t gold containing 3.71 million gold ounces along with Inferred Mineral Resources of 40.8 million tonnes grading 0.58 g/t gold and containing 0.76 million gold ounces. The Project hosts a disseminated low sulphidation epithermal system. Gold is primarily hosted by late-stage rhyolite volcanic units within zones of silicification and brecciation associated with northeast-southwest trending/southeast dipping fault structures which are interpreted to have developed within a collapsed caldera environment. Eleven gold domains are represented by both steeply dipping high grade and stratabound hosted mineralization orientations.