Newcastle announces drill hole assay results for newly-defined Snip North gold-copper porphyry deposit



    VICTORIA, BC, Jan. 14 /CNW/ - Newcastle Minerals Ltd. (TSXV:NCM) is
pleased to announce that the six-hole, 1158.8-meter NQ sized core diamond
drilling program on its 100% owned Snip North Property, located in the Iskut
River area of northwestern British Columbia, which commenced in early October
was completed on October 27, 2007. The Company also previously completed a
five-hole, 1047.9-meter NQ sized core-drilling program on the property in
October 2006. The Snip North property is located on trend and some 2 to 2.5
kilometers to the northwest of the Bronson Slope gold-copper-silver-molybdenum
deposit owned by Skyline Gold Corporation.

    Iskut Deposit - 2007 Drilling Results

    The assay results from this 2007 drilling program and, as well, the 2006
drilling program confirm the definition of a separate copper-gold-molybdenum
porphyry mineralization zone, called the Iskut Deposit, that is returning
significant gold-copper-molybdenum values over substantial intercept lengths.
The results from the 2007 drilling program for the five Iskut Deposit drill
holes are as follows:

    
                    From        To  Intercept  Au       Cu       Mo      Ag
    Hole         (meters)  (meters)  (meters)  g/t       %        %      g/t
    -------------------------------------------------------------------------
    SN 07-01         3.8     183.8   180.0    0.448    0.132    0.010    0.6
      including     16.2      65.7    49.5    0.622    0.134    0.003    0.9
      including    147.2     183.8    36.6    0.434    0.180    0.027    0.5

    SN 07-02        25.3      80.2    54.9    0.609    0.086    0.003    1.2
      including     28.3      34.4     6.1    1.615    0.119    0.001    1.5
      including     61.9      77.1    15.2    0.723    0.171    0.006    2.4

    SN 07-03        13.1      19.2     6.1    0.193    0.092    0.003    0.6
            and     52.7     208.1   155.4    0.575    0.134    0.006    1.2
      including     52.7      83.2    30.5    0.793    0.166    0.005    2.1
      including     92.3     110.6    18.3    0.934    0.239    0.018    1.6
      including    150.3     168.6    18.3    0.863    0.240    0.007    1.0

    SN 07-04         4.4      31.1      27    0.417    0.173    0.020    0.6
            and     46.6     162.5   115.9    0.369    0.171    0.013    0.5
      including    107.6     147.2    39.6    0.530    0.236    0.014    0.8
            and    171.6     186.8    15.2    0.257    0.043    0.002    0.4
            and    196.0     202.1     6.1    0.315    0.067    0.002    0.0

    SN 07-05         No significant metal values
    

    These results are based on gold cut-off of 0.200 grams per tonne and/or a
copper grade of 0.070% over a minimum intercept length of 6.0 meters.
    The limited drilling and preliminary geological modeling to date, has
defined an east-west trending deposit, dipping steeply south, to be some 500
to 600 meters in trend length, and ranges from 200 to 300 meters in true width
and has been drilled, at the deepest, to a depth of 200 meters. The deposit is
open along trend to the west, possibly to the east, and to depth. The deposit
sub crops below a thin cover of overburden and glacial cover. Essentially no
outcrop exists in the location of the current deposit. Outcrop expression on
the property is rare and is limited to incised stream valley bottoms, the
north side of the Iskut River and some valley sides.
    This deposit is located adjacent and on the north side of the Iskut River
and parallels the river where defined. The mineralization is contained within
altered fine-grained Upper Triassic/Jurassic clastic sediments and andesitic
tuffs. Silicified sediments and tuffs, quartz veins and veinlets, pyrite,
chalcopyrite, minor epidote and magnetite define the porphyry mineralization
and alteration.
    The bulk of the 2007 drilling program, totaling five holes, was designed
to test the strike, width, and depth extensions of the gold-copper-molybdenum
porphyry Iskut Deposit initially outlined during the 2006 drilling program.
The 2007 drilling on the deposit was completed on three separate north-south
sections, each in the order of 200 meters apart.
    Holes SN 07-03 and SN 07-04 represent the most westerly drill section on
the property, which was drilled south to north from the hanging wall side of
the deposit through to the footwall side of the deposit, respectively. Holes
SN 07-01 and SN 07-02, a second parallel section 200 meters to the east, was
also drilled from the hanging wall side and through the footwall side,
respectively. Hole SN 07-05 on a third section approximately 200 meters east
of the second section was situated to the north and on the footwall side of
the deposit and consequently did not intersect mineralization. These holes
complemented drilling coverage done in 2006 on the second and third above
noted sections. All drill holes were directed at a 360 degrees azimuth and at
a dip of -50 degrees to the north. ACME Laboratories of Vancouver, BC
completed core assays for copper, gold, silver, and molybdenum.
    Four 2007 drill holes on the Iskut Deposit returned significant grade and
lengthy intercepts that are tabulated above. Holes SN 07-01 and SN 07-04,
collared in mineralization, were essentially mineralized throughout their
complete lengths and bottomed in mineralization. Hole SN 07-03 was mineralized
for most of its length and also bottomed in mineralization. Hole SN 07-02
intercepted a significant length of relatively gold-enhanced mineralization on
the footwall wall side of the deposit.

    East Zone - 2007 Rock Sampling & Drilling Results

    In the vicinity of the East Zone, located some 550 meters to the east of
the east edge of the Iskut Deposit, historical exploration in 1987 defined an
area of rock sampling containing low-grade copper and gold mineralization
indicative of porphyry mineralization. Representative sampling by the Company
in mid-October 2007 returned the following results from limited rock grab
sampling:

    
    Sample       Au     Cu      Mo    Ag
      No.      (ppb)    (%)   (ppm)  (ppm)              Location
    -------------------------------------------------------------------------
    708449      498    0.083     5    2.6    Adjacent to SN07-06 Drill Site
    708448      240    0.014    10    0.5     Outcrop 100 m SE of SN 07-06
    708447       55    0.041     5    0.4     Outcrop 190 m SE of SN 07-06
    708446     2555    0.058   156    7.6     Outcrop 200 m SE of SN 07-06
    

    The Company's sixth and final drill hole, from the October 2007 drilling
program, SN 07-06, was completed to a depth of 155.7 meters to test this zone.
The results are as follows:

    
                From      To    Intercept     Au       Cu       Mo        Ag
       Hole   (meters) (meters)  (meters)    g/t        %        %       g/t
    -------------------------------------------------------------------------
    SN 07-06     10.1     16.2      6.1     0.264     0.071    0.001     1.8
         and     40.5    101.5     61.0     0.320     0.074    0.001     1.5
    

    Untested areas of ground both to the west and east of drill site SN 07-06
cumulating in approximately 700 meters of favorable trend remain to be
evaluated.

    Future Exploration Work

    Newcastle's next objective is to compile the exploration and drilling
results from the 2007 program and to complete a technical report on the Snip
North property that is National Instrument 43-101-compliant. This report will
detail the future drilling and exploration recommended to further evaluate the
property.
    The technical information in this news release has been prepared in
accordance with Canadian regulatory requirements set out in National
Instrument 43-101 and reviewed for technical accuracy by Mr. A. A. Burgoyne,
P.Eng., M.Sc., of Burgoyne Geological Inc., who serves as the Qualified Person
for the property under National Instrument 43-101.

    ON BEHALF OF THE BOARD

    Signed "Kevin C. Whelan"
    ------------------------
    Kevin C. Whelan, President

    -------------------------------------------------------------------------
    Mr. Lou Straith, A.Sc.T. and. Mr. Cam DeLong, B.Sc., M.Sc, managed the
drilling program on the Snip North property. Mr. A.A. Burgoyne, M.Sc., P.Eng.
is the designated Qualified Person (Q.P.) for the project and has verified the
data disclosed. He has determined that the laboratory reports matched the
drill sample logs and that the quality control assays fall within reasonable
limits. Newcastle Minerals' QA/QC procedures incorporate blanks and duplicates
inserted at the drill site and standards after sample preparation. Drilling is
by wire line core using diamond bits. ACME Analytical Laboratories Ltd. in
Vancouver, British Columbia (an ISO9001: 2000 accredited lab) process a
one-half split of NQ diameter core from each three-meter section of the drill
hole weighing approximately 9 kg. Analyses for gold are with a 50 gram sub
sample, fire assay fusion with ICP-ES (Induced Couple Plasma-Emission
Spectrographic) finish; copper analyses are with a 1 gram sub sample, aqua
regia digestion followed by ICP-ES finish; silver and molybdenum analyses are
with a 0.5 gram sub sample, aqua regia digestion followed by ICP-ES finish.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.




For further information:

For further information: Kevin Whelan, President, T (250) 474-7999,
e-mail, info@newcastleminerals.com or visit the web site at
www.newcastleminerals.com; MineralStox, Providing Investor Relations, Gord
Zelko, T: (250) 495-7123, E: contact@mineralstox.com

Organization Profile

NEWCASTLE MINERALS LTD.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890