Newcastle Swayze Belt Property Update
October 13 2011 - 7:17AM
Marketwired
Newcastle Minerals Ltd. (TSX VENTURE:NCM) is pleased to provide an
update on its 100% owned properties located in the South Swayze
Greenstone belt of Ontario.
Chester Project
This summer, Newcastle completed a drill program of four holes
(1,050 meters) focusing on targets on the eastern portion of the
Chester property. While no significant gold assays were returned,
anomalous gold values were encountered associated with variable
degrees of sulphide mineralization, alteration and fracturing in
intermediate intrusive and occasionally intermediate-to-mafic
metavolcanic rocks. The alteration and fracturing encountered
during drilling may be associated with the "Ridout Deformation
Zone," which is an important structural element in the area as
described in Trelawney Mining and Exploration Inc.'s National
Instrument 43-101 technical report on the Cote Lake deposit.
A prospecting, mapping and sampling program has begun on the
project to identify potential targets for a follow-up drill program
this winter. Newcastle is fully financed to complete this work.
Neville-Potier Project
Newcastle's Neville-Potier Project is a large, contiguous claim
block consisting of 15,480 acres in Neville and Potier Townships.
The claim block straddles the contact between the prospective
Swayze Greenstone Belt and intermediate to felsic intrusive rocks
to the north. Recent staking by Trelawney Mining and Exploration
adjoining the northern portion of the claim block, combined with
their takeover of Augen Gold, places the Neville-Potier Project in
a strategic position surrounded on two sides by Trelawney. Public
databases of topographic lineaments, magnetic interpretations and
Soil Gas Hydrocarbon (SGH) anomalies (Augen Gold 2011) indicate the
Neville-Potier Project could host significant gold potential. A
comprehensive prospecting, mapping and sampling program focusing on
north-northwest structures, SGH anomalies (that trend towards the
southern border of the property) and a government documented
historical gold showing has commenced on the project.
Mollie River
Newcastle was recently notified by First Lithium Resources that
it has dropped its option on one of the three claims originally
optioned and reported by First Lithium on November 19, 2010. The
dropped claim is now owned 100% by Newcastle and comprises six
units totaling 240 acres. First Lithium completed no work on this
claim. The claim is underlain by felsic and mafic intrusive rocks
that remain both prospective and underexplored. Once Newcastle
completes work on its Chester and Neville/Potier projects,
preliminary mapping and prospecting will take place on this Mollie
River claim. On the claims retained by First Lithium, ground
induced polarization (I.P.) and magnetic surveys followed by
diamond drilling were completed in winter 2011. The Mollie River
claim blocks are surrounded by Trelawney Mining and Exploration and
are situated east of their Cote Lake deposit.
Newcastle's President, Michael Romanik, said, "We look forward
to receiving the results from the prospecting program to assist in
the identification of new gold targets. These targets will be
assessed for detailed mapping, ground geophysics and diamond
drilling follow-up."
The technical information herein was prepared under the
supervision of Mr. Garry Clark, P. Geo., of Clark Exploration
Consulting Inc., who acts as Newcastle's Qualified Person as
defined by National Instrument 43-101.
Newcastle Minerals Ltd. is a Canadian gold exploration company
trading on the TSX Venture Exchange (TSX VENTURE:NCM). The company
is advancing its three key properties: the 11,100-hectare Pickle
Lake Property in northwestern Ontario, its 6,898-hectare property
located in the Swayze greenstone belt of Ontario near Trelawney
Mining and Exploration Inc.'s Cote Lake deposit, and its
120-hectare Carscallen Property in the West Timmins area of
Ontario.
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
Direct: (204)
724-0613info@newcastleminerals.comwww.newcastleminerals.com
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