We connected with Castle Peak Mining (CAP.V) CEO Darren Lindsay over the phone Thursday afternoon and got an update on the company’s summer work program at its Akorade Project in Ghana. The company put out a press release last week outlining a sampling program in preparation for drilling. The sampling program is underway and Mr. Lindsay provided some additional color as to Castle Peak’s plans.
“We’ve identified a number of high potential targets across the property and from that we’ve prioritized a trend which we call the Akoko Trend, a prospect called Dansuom, a target called POW-A1/3, and a couple less evolved anomalies which we will follow up on while we evaluate the larger prospects.
Our prioritized targets are all within trucking distance of existing mills which gives some optionality to a potential discovery. We are evaluating targets we believe can get to the +1Moz level, however, finding 300,000 ounces down the road from a mill could also be of interest to one of our neighbours, if the grade is right.”
And on Castle Peak’s work program timeline:
“Crews should be on the ground early next week (July 26th). Once they get started with the sampling program it should take about 30 days. We are looking at about a 2 ½ week turnaround at the lab so if we complete sampling in mid-August we should have all our sample results back from the lab in early September. This works in our favour as that timing it coincides with the beginning of the dry season. We would then like to immediately begin with our drill program (September/October) which will be at least 500 meters.”
And on the potential for expanding the drilling program beyond 500 meters:
“If our auger samples come back and confirm the trends that we believe are there we would definitely be seeking a partner or going back to the market to expand our drill program as early as September. The 500 meters isn’t nearly enough so if the sampling shows that one of these targets has a probability of a new discovery rather than just a possibility we will want to get on it quickly and prove it up through drilling.”
It is important to note that Castle Peak’s Akorade Project is literally in the heart of Ghana’s gold region:
Akorade offers multiple infrastructure advantages due to its location and as Mr. Lindsay pointed out there is the possibility of trucking ore to several nearby mills. Castle Peak’s 2016 sampling/drill program offers the potential for some exciting news flow from a gold explorer with one of the most interesting land positions in Africa. We look forward to sampling results in early September and additional updates from the field over the coming weeks.
Disclaimer:
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