Drilling Resumes on Newcastle's Mollie River Property
March 31 2011 - 8:36AM
Marketwired
Newcastle Minerals Ltd. (TSX VENTURE: NCM) is pleased to announce
that First Lithium Resources Inc. will resume drilling on
Newcastle's Mollie River Property located approximately four
kilometres east of Trelawney Mining and Exploration Inc.'s Chester
Gold Complex in northwestern Ontario. First Lithium has an option
to earn up to a 75% interest in Newcastle's property.
First Lithium will continue drilling DDH MR-10-10, which was
previously drilled to a depth of 194m. The final 9m interval of
that core revealed elevated gold and copper levels (see news
release March 2, 2011). Project geologist Mark Fedikow stated, "The
association of gold mineralization in altered mafic to intermediate
intrusions is strongly suggestive of the geologic setting of the
Trelawney gold deposits." Drilling will commence today or
tomorrow.
The depth to which First Lithium will extend the hole will be
determined by visual examination of the core as it is
extracted.
Newcastle Minerals Ltd. is a Canadian gold and base metal
exploration company trading on the TSX Venture Exchange (TSX
VENTURE: NCM). The company is advancing its three key properties:
its 120-hectare Carscallen Property in the West Timmins area of
Ontario, its 11,100-hectare Pickle Lake Property in northwestern
Ontario and its 6,600-hectare property - including the Mollie River
Property - located in the Swayze greenstone belt of Ontario near
Trelawney Mining and Exploration Inc.'s Chester Project.
ON BEHALF OF THE BOARD
Michael Romanik, President
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Newcastle Minerals Ltd. Michael Romanik President
(204) 724-0613 info@newcastleminerals.com
www.newcastleminerals.com
Goldon Resources Ltd. (TSXV:NCM)
Historical Stock Chart
From Jun 2024 to Jul 2024
Goldon Resources Ltd. (TSXV:NCM)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Goldon Resources Ltd. (TSX Venture Exchange): 0 recent articles
More Newcastle Minerals Ltd. News Articles