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.
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.