Castle Minerals Acquires Pilbara Gold Interests

Castle Minerals Limited (ASX:CDT) is pleased to advise that it has secured the rights to acquire an 80% interest in two adjacent exploration licence applications encompassing the prospective basal conglomerate horizon of the Hardey Formation and its unconformable contact with the underlying Mt. Roe Basalt as mapped by the Geological Survey of Western Australia (GSWA).

The applications comprise a total of four blocks (12.8km2) at Coolyia Creek, 40km southwest of and easily accessed from Marble Bar in the East Pilbara region of Western Australia (ELAs 45/4965 and 4975) (Coolyia Creek Project).

The prospector applicants for ELA45/4965 have advised Castle that metal detecting by them on the area being applied for has located a number of gold nuggets (exact location, number, size, gold content and appearance unknown and not independently confirmed as yet). Generally, this area and its surrounds are known to amateur fossickers for gold but until recently no geological context has been applied to gold occurrences in the area.

The GSWA has described the Hardey Formation conglomerate horizon in the area as “Cobble to boulder conglomerate, rounded clasts of Mt Roe Basalt in a range of matrix of quartzofelspathic sand and mafic volcanic detritus”. The Hardey Formation and Mt Roe Basalts sit at the base of the Fortescue Group stratigraphy that is widespread throughout the Pilbara region.

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