Posts Tagged Castillian Resources


Castillian Resources Corp. has released the results of its 2011 exploration program at its Canadian Creek property. The property consists of 320 claims covering approximately 6,180 hectares located 160 kilometres south of Dawson, approximately 50 kilometres southeast of Kinross Gold Corp.’s White Gold discovery and 25 kilometres southeast of Kaminak Gold Corp.’s Coffee gold discovery. Work completed in 2011 included soil geochemistry grid sampling, detailed ground magnetic surveys, induced polarization surveys, trenching and geological mapping. Assay results are pending for the trench samples.

Dr. Bill Pearson, PGeo, president and chief executive officer of Castillian, commented: “The exploration results for the Canadian Creek property are very promising. The fact that the extensive gold-in-soil anomaly is associated with a major structural zone with significant historical drill intersects suggests the potential for a very large gold-mineralized system on the property. In spring 2012, we plan to follow up with diamond drilling and additional trenching and induced polarization surveys.”

A total of 5,660 soil geochemical samples, including quality assurance/quality control duplicates, were collected in 2011 at 50-metre intervals on lines spaced 200 metres, with infill sampling on 100-metre lines over areas with prospective gold-in-soil anomalies. In addition, infill sampling was completed in some of the areas with historic soil sampling, particularly in the northeast part of the property, to better define existing anomalies. Soil results (greater than 40 parts per billion gold) define an extensive gold-in-soil anomaly with a strike length of 7.5 kilometres and a width of two kilometres. This new gold-in-soil anomaly, which is 3.5 kilometres in strike length, extends a historic gold-in-soil anomaly on the property, previously named the Casino B trend, to form one large gold-in-soil trend that is 7.5 kilometres long by two kilometres wide, named the Canadian Creek trend.

The highest gold-in-soil results of the 2011 survey were returned in the eastern three kilometres adjacent to the boundary with the Casino property. The anomaly in this area consists of a total of 310 samples, of which 56 per cent or 173 are considered to be anomalous (above 40 ppb Au), with values ranging from less than one ppb Au to 970 ppb Au (0.97 gram per tonne Au). Historic gold-in-soil values within this trend range from less than one ppb Au to 2,289 ppb Au (2.29 g/t Au).

A 391-line-kilometre detailed magnetic survey was completed in 2011 on the Canadian Creek property. A structural interpretation of this survey suggests that the Canadian Creek property contains a major east-northeast-west-southwest-trending structural zone that is subparallel with the trend of the extensive gold-in-soil anomaly and may provide a significant control on gold mineralization on the property. The structural zone was later modified by a series of north-northwest-striking faults which may also be important for location of gold mineralization.

A limited induced polarization survey of five north-south lines spaced at 200-metre intervals totalling 10 line kilometres was completed in the area of historic drill holes CC09-08 and CC09-10, which intersected 3.46 g/t Au over 1.5 metres and 1.09 g/t Au over three metres, respectively. This survey has outlined two distinct zones of elevated chargeability that appear to correlate with magnetic and gold-in-soil anomalies in the general vicinity of the historic drill holes. Further survey lines need to be completed to better define the full extent of the anomaly, but initial results are encouraging.

The Canadian Creek property abuts Kaminak’s Coffee gold property immediately south of the recently discovered Sugar gold-in-soil trend (see Kaminak’s press release dated Dec. 2, 2010). On its eastern claim boundary, the property is bordered by the very large-tonnage, low-grade Casino copper-gold-molybdenum porphyry deposit owned by Western Copper & Gold Corp. Castillian has an option to acquire a 60-per-cent interest in the Canadian Creek property from Cariboo Rose Resources Ltd. (see press releases dated Oct. 18, 2010, and Jan. 28, 2011).

Tony Gilman, PEng, consulting geologist/geological engineer with Terrane Geoscience Inc., and Kevin Brewer, PGeo, manager, Yukon, for Castillian, both of whom are qualified persons as defined by National Instrument 43-101, have reviewed and approved the scientific and technical content of this press release. Geophysical surveys were completed under the direction of Dr. Chris Hale, PGeo, chief geophysicist for Castillian. Dr. Hale is a qualified person as defined by National Instrument 43-101.


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Castillian Provides update on Cariboo Rose’s Canadian Creek Property

Castillian Resources Corporation (“Castillian” or the “Company”) announces that pursuant to a letter agreement (the “Letter Agreement”) entered into with Alder Resources Ltd. (“Alder”) to acquire the right to earn a 60% interest in the Canadian Creek Gold property located in the Whitehorse Mining District, Yukon (the “Property”) (See Press Release dated October 18, 2010), the parties have clarified the terms of the previously entered into assignment agreement among Castillian, Alder and Cariboo Rose Ltd. Alder acquired its interest in the Property pursuant to an option agreement (the “Option Agreement”) dated June 11, 2009 entered into between Alder and Cariboo Rose Resources Ltd. (the “Optionor”) under which Alder had an option to acquire a 60% interest.

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