Announcement Date: 2022-11-14
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Castile Resources Ltd.
Project name: Rover
Location: Australia
Commodities: Gold,Copper,Cobalt
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Castile Resources Limited (ASX:CST) (Castile or the Company) is pleased to announce the maiden Mineral Resource Estimate (MRE) for its 100% owned Rover 4 Deposit located 2km north from the Company’s flagship asset Rover 1. Due to the proximity of Rover 4 to the planned Rover 1 development, the Rover 4 MRE can now be added to the Rover 1 Project MRE as per Table 1. Prior to Castile purchasing the tenement in 2019, 48 holes has been drilled at Rover 4, with 42 intercepting mineralisation. Castile drilled two holes in the 2022 field season to validate interpretation prior to performing the MRE. Rover 4 provides longer term optionality in the proposed development for Rover 1, increasing the overall resource inventory as tabulated below. Rover 4 occurs in a low relief area covered by extensive transported cover lying over approximately 100 metres of flatlying Cambrian sediments of the Wiso Basin. The basin unconformably overlies the Proterozoic basement of the Warramunga Provence which hosts the deposit. Recent dating by the Northern Territory Geological Survey indicates the host rocks are of Ooradidgee Group equivalent age.
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