Castle Minerals Limited (ASX: CDT) has expanded its presence in the prospective Earaheedy Basin region in Western Australia with the application for an additional two exploration licences, bringing its total licence application holdings in the region to five for a combined 863 sq. km.
The five applications have been grouped into the “Terra Rosa”and the “Withnell”sub-projects.
Managing Director, Stephen Stone, said the applications are consistent with Castle’s strategy of positioning itself at low-cost in regions prospective for base and precious metals and which have generally not received much recent attention or the benefit of the latest available exploration tools.
We are very pleased to have been able to increase our exposure to the prospective Earaheedy and adjacent Yerrida Basins and have commenced an intensive compilation and review of historical datasets ahead of an initial reconnaissance field trip,” Mr Stone said.
The Withnellapplication area is immediately north of and, in part, appears to be along strike from the recent Chinook – Magazine zinc-lead discovery.
An initial appraisal of historical reports and 1:100,000 scale GSWA mapping covering the Withnell application area indicates that the west extremity and southern portion of the licence most likely encompass the Frere Iron Formation and its unconformable contact with the underlying, prospective Sweetwaters Well member of the Yelma Formation.
Importantly, much of the historical exploration in the region occurred in the 1990’s with a number of prospects delineated within the Sweetwater Well and overlying Frere Formation. The Withnell application was made on the basis that one such prospect, the Sioux prospect, appears to occur within the Withnell licence area. The exact location and nature of the Sioux prospect has yet to be verified in the field.
The four contiguous Terra Rosaapplications are grouped immediately to the east of the Thaduna copper deposit.
Castle has commenced the collation and critical review of publicly available historical data and is also evaluating work being undertaken by other companies presently active in the region as a prelude to determining the prospectivity of its licence areas and the logical way to progress each.