Duncastle Initiates Airborne Survey and Grants Stock Options
04 June 2010 - 11:30PM
Marketwired
Duncastle Gold Corp. (TSX VENTURE: DUN)(FRANKFURT: 5D3) (the
"Company") reported today that it has signed a contract with Fugro
Airborne Surveys Corp. to carry out a 514 line-km helicopter borne
DIGHEM EM/Magnetic/Radiometric geophysical survey on its 100% owned
Porphyry Creek project located 20 kilometers northwest of Smithers,
in northwest British Columbia.
The Porphyry Creek project covers over 115 sq km of mineral
claims with historic workings and numerous high-grade gold, silver
and polymetallic showings around a distinct 10 kilometer long
magnetic high. Data compilation and modeling by the Company has
demonstrated mineral zonation on the property consistent with
porphyry style deposits. The airborne geophysical survey tools are
GPS logged for accurate location control and will allow ground
follow-up this summer as part of a surface mapping and sampling
program to establish priority drill targets.
The Company also reports that it has, today, granted incentive
stock options to directors, officers, consultants and employees to
purchase 1,500,000 common shares at $0.10 per share exercisable for
a period of five years in accordance with the Duncastle stock
option plan. The options are subject to acceptance for filing by
the TSX Venture Exchange.
Duncastle Gold Corp. is a Vancouver based gold exploration
company with mineral claims covering or surrounding past producing
mines in two historic BC districts. In Southeast BC Duncastle holds
a claim block with a focus on the high-grade gold-silver-lead-zinc
veins at the former Yankee-Dundee mine, 50 km from the smelter at
Trail, BC. In Northwest BC the Company's project covers a 10 km
long magnetic anomaly, previous workings, and high-grade precious
metal veins on its Porphyry Creek claims. Duncastle has assembled
contiguous claim blocks totaling more than 170 sq km in these two
productive regions, targeted primarily for gold and copper.
As part of the Manex Resource Group, Duncastle benefits from
shared expertise in corporate finance, public company
administration, investor relations, and the technical and
geological services provided for the eight public companies active
in North America. Since its formation in 1997, the Manex Group
companies have raised over C$250 million in exploration
financing.
Robert Macdonald (P.Geo) is the Qualified Person as defined by
National Instrument 43-101 for the Porphyry Creek project and has
reviewed and approved the technical contents of this release.
On behalf of the Board of Directors,
Victor J E Jones, President, Director, Duncastle Gold Corp.
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: Duncastle Gold Corp. Jeff Stuart 1.888.456.1112
jstuart@mnxltd.com Duncastle Gold Corp. Liana Shahinian
1.888.456.1112 liana@mnxltd.com www.duncastlegoldcorp.com
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