Castlemaine Goldfields Limited (ASX:CGT) - December Quarterly Activities Report - Mr Gary Scanlan, MD And CEO

Sydney, Jan 23, 2008 (ABN Newswire) - Castlemaine Goldfields Limited (ASX: CGT) - December Quarterly Activities Report - Mr Gary Scanlan, MD and CEO; Castlemaine Goldfields Limited (ASX: CGT) present the following audio webcast regarding "CGT - December Quarterly Activities Report - Mr Gary Scanlan, MD and CEO".

Highlights:

Resumption of drilling at Castlemaine:-

- 16,000 metre diamond drilling program planned across the Castlemaine goldfield.

- Follows geological model validation and target prioritisation.

- 3,273.5 metres drilled in December quarter.

- Chewton Anticline results evidence structural continuity, also visible gold in several intersections.

- Detailed structural analysis on the Chewton Anticline prospect has begun.

- Clear focus on Castlemaine.


Successful capital raising concluded to fund drilling program:-

- Cash at December 31, 2007 of $5.3m.

- Significant and positive changes to share register.

Resource estimation on track:-

- Chewton Anticline prospect in-fill holes completed in quarter and step out holes in progress.

- Inaugural resource estimation for Chewton Anticline prospect on track for completion after concluding March 2008 quarter drilling.

Tarnagulla and Sebastian farm-out discussions commenced:-

- Tarnagulla farm-out deal under negotiation.

- Positive discussions commenced regarding Sebastian Project farm-out
Broadcaster: Castlemaine Goldfields Limited (ASX: CGT)

Audio webcast Link:

http://abnnewswire.net/alnk/QD556PJ0

Listen to the Audio stream and view the announcement for Castlemaine Goldfields Limited (ASX: CGT) below.

http://abnnewswire.net/vlnk/37C9VJA7