GOLD RESOURCES: Castillian calls Hope Brook “major” deposit

NEWFOUNDLAND – Castillian Resources of Toronto released its first 43-101 report for the former Hope Brook gold mine near Port aux Basques, calling it a “major gold deposit”. The indicated resource (both inside and below the constraining pit shell) totals 5.5 million tonnes at 1.65 g/t Au for 290,000 oz of gold. The inferred resource is 13.2 million tonnes at 1.74 g/t Au for 740,000 contained ounces.

Discovered in 1983 by BP-Selco, the Hope Brook deposit was mined underground from 1987 to 1997 producing more than 750,000 oz of gold. Beginning in 1993 a copper concentrate was also made. Castillian says there is considerable potential to upgrade and expand the resources along strike.

The next step is to prepare a preliminary economic assessment that Castillian plans to begin in Q2 2012. Please visit Castillian.ca.