December 2011 Quarterly Report
Dear MvM Commodity Group
Highlights
Wa Project
Maiden Mineral Resource estimate for the Kandia prospect announced totalling
3.3mt @ 1.0g/t gold for 107,500 ounces
Total Gold Resources in Ghana increased by 68% to 267,000 ounces
2012 northern Ghana field season well underway with:
6,137 soil samples collected to date testing Baayiri, Funsi and Kandia East prospects
Two auger drill rigs operating on Wa Project as part of an initial 20,000m auger program
Castle’s own drill rig along with support vehicles and associated spares has arrived in Ghana and should commence drilling shortly with the aim of drilling continuously until the wet season (July) for approximately 30,000m
7,000m contract RC drill program to commence shortly testing Wa South, Baayiri, Julie West and Kandia targets
Two new high grade vein style gold targets defined at Julie West for immediate RC drill testing with laminated vein rock chips up to 37.3 g/t gold
Regolith Study completed at Wa South and Baayiri Prospects
Exploration office established in Wa, two additional geologists and two experienced drillers employed along with associated support personnel
Wa Project tenure strengthened with original 3 Reconnaissance Licences covering 10,000km2 converted to 18 Prospecting Licences and four new Reconnaissance Licences
Antubia Project
723 soil samples taken at Antubia Project in south west Ghana
Akoko Project
Akoko diamond drilling intercepts coherent gold mineralisation and confirms geological interpretation at Akoko.
Project licences renewed
Corporate
End of quarter cash position of $5.6m
Azumah Resources Limited (ASX:AZM) increased Castle shareholding to 15.29%
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