Castle hits further graphite at Kambale

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THE DRILL SERGEANT: Drilling carried out by Ghana-focused Castle Minerals along strike of the company’s Kambale graphite deposit has intersected further high‐grade graphite.

Drill intercepts from the latest round of drilling include:

–    23 metres at 6.21 per cent graphitic carbon from 5 metres;

–    12m at 5.39 per cent graphitic carbon from 10m;

–    13m at 5.40 per cent graphitic carbon from 10m;

–    15m at 6.15 per cent graphitic carbon from surface; and

–    36m at 10.68 per cent graphitic carbon from 5m.

“These are the first batch of results for drilling testing a 600 metre long zone south of the current resource and clearly extend the known graphite schist horizons,” Castle  Minerals managing director Mike Ivey said in the company’s announcement to the Australian Securities Exchange.

“It is our expectation that the Kambale resource will be materially increased as exploration continues.”

Drill hole location plan of Kambale graphite deposit with significant
graphite intercepts. Results in blue were used in the July 2012 resource
estimate whilst those in black are from new drilling testing the
southern strike extension. Source: Company announcement

Castle is conducting this current phase of drilling using its own drill rig.

Rotary air blast (RAB) samples generated from the program are being composited over 5m intervals for graphitic carbon analysis.

Upon definition of the graphite horizons RC drilling will then be carried out in order to prepare an updated resource calculation.

Castle announced a maiden Mineral Resource Estimate for Kambale of 14.4 million tonnes at 7.2 per cent graphitic carbon for 1.03 million tonnes of contained graphite, including 6 million tonnes at 8.6 per cent graphitic carbon for 0.52 million tonnes contained graphite.

Kambale ranks as one of the world’s larger global graphite deposits.

“As well as expanding the Kambale deposit, we also remain committed to the company’s core focus of building on the gold exploration successes achieved to date on our highly prospective and proven licences,” Ivey said.