Castle Peak Mining Ltd. provides a second news release on corporate developments since its TSX Venture Exchange trading halt 60 days ago
Castle Peak Mining Ltd. provides a second news release
on corporate developments since its TSX Venture
Exchange trading halt 60 days ago
Vancouver, British Columbia--(Newsfile Corp. - April 18, 2019) -
Castle Peak Mining Ltd.
(TSXV: CAP) ("Castle Peak"
or the
"Company")
hereby provides a second news release on corporate developments since its TSX Venture Exchange trading halt
60 days ago.
The Company is pleased to announce that it has concluded the independent review exercise and due diligence report on the
Kunsu PL property, which was conducted by PGeo, Mr. Sam Torkornoo, a registered member of the Association of Professional
Geoscientists of Ontario, registration number 2340. The Company has provided this review report for final TSX Venture
Exchange approval.
Further, the Company can confirm that a Ghana law firm has finalized the requested title opinion on the Kunsu prospecting
license. The title opinion has also been submitted for final TSX consideration and approval.
Finally the Company is pleased to announce the following field progress report on follow-up exploration work. This work
commenced on the 22
nd
February, 2019 and has covered the customary community consultation and traditional protocols within
the project area. Assessment of Crop compensation, which is to compensate farmers for their farming crops that were affected
by operations, for the period is underway. The Field Work includes the 5.8 km Induced Polarization (IP) geophysical survey at the
North Grid zone. 430 m of trenches have been excavated on the geophysical defined targets to establish lateral continuity of the
mineralized zone and also provide information on the extent and prospectivity of gold mineralization within the corridor. 362
trench samples have been submitted to ALS laboratories in Kumasi, Ghana for Au analysis by Fire Assay and AAS finish.
ON THE KUNSU PROPERTY
The Kunsu PL property is located approximately 35 km Northwest of Kumasi and 240 km Northwest of Accra. The property
which is situated in close proximity to the Sefwi gold belt is strategically placed on the Asankragua Manso Nkwanta gold belt.
The Kunsu concession is about 27 km north of Asanko Gold's mine, and even closer to the Asanko Esaase gold prospect, all of
which are inferred to be underlain by similar geology regionally as Kunsu.
TECHNICAL DISCLOSURE
Castle Peak's technical disclosure in this news release has been reviewed and approved by Mr. Sam Torkornoo, P.Geo., who
serves as a Qualified Person under the definition in National Instrument 43-101 ('NI 43-101').
ABOUT CASTLE PEAK
Castle Peak Mining Ltd. is a Canadian-based junior exploration company focused on advancing greenfields and early stage
gold projects. Castle Peak has successfully discovered and sold the high grade Apankrah deposit with an associated strategic
land package. The Company is in the process of acquiring the Kunsu prospecting license strategically placed on the
Asankragua Manso Nkwanta gold belt in Ghana, West Africa.
On behalf of the Board of Castle Peak Mining Ltd.:
"Iyad Jarbou"
Chief Financial Officer
Tel: 604-362-7685
Email:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) nor the Investment Industry Regulatory Organization of Canada accepts responsibility for
the adequacy or accuracy of this release.
FORWARD-LOOKING AND OTHER CAUTIONARY INFORMATION
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release,
other than statements of historical facts, that address the planned operations are forward-looking statements.
Although the
Company believes the forward-looking statements are based on reasonable assumptions, such statements should not be in
any way construed as guarantees of future performance and actual results or developments may differ materially from those
in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking
statements include market prices for metals, the conclusions of detailed feasibility and technical analyses, the timely renewal
of key permits, lower than expected grades and quantities of resources, mining rates and recovery rates and the lack of
availability of necessary capital, which may not be available to the Company on terms acceptable to it or at all. The Company
is subject to the specific risks inherent in the mining business as well as general economic and business conditions. For
more information on the Company, Investors should review the Company's Annual Form 40-F filing with the United States
Securities Commission and its home jurisdiction filings that are available at
www.sedar.com
.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/44177