Castle Resources is a junior mineral development firm based in Toronto and focuses on advanced and high-quality projects.
It has mobilized the fifth drilling rig to the Granduc, which is a copper project located near Stewart in B.C.
The CEO and President of Castle, has commented that the aim of the drilling program at the North zone is to indicate the potential of exploration discovered by SRK in its NI 43-101 resource estimate report and upgrade it into a resource category. The company considers that the North Zone could signify the considerable future resource benefit depending on the historical drilling information of Esso and Newmont.
Castle has purchased a mining claim in the Skeena mining division, B.C. in association with the Granduc copper project development. With reference to this purchase, the company has paid an amount of $20,000 as cash and provided a total of 94,118 castle’s common shares. The company has funded a 2% NSR on the purchased claim. The common shares given in association with the claim purchase will be dependent on a four month regulatory hold phase, which is starting from the issue date.
The objective of the management is to keep on redeveloping the 100% owned historical Granduc Copper Mine and commence new drilling activities. It is also promptly developing the Elmtree gold project towards viability in 2011.
Source: http://www.castleresources.com/