GOLD RESOURCE: Indicated ounces double at Hope Brook project

NEWFOUNDLAND – Toronto’s Castillian Resources Corp. has updated the 43-101 report for the former Hope Brook gold mine in the southwest part of the province. Since February this year, contained gold in the indicated resource category has grown 102% to 590,000 oz. Another 548,000 oz are estimated to be present in the inferred resource.

The Oct. 1 report measures two types of mineralization. Within the constraining shell and using a 0.50 g/t Au cut-off, the indicated resource is 10.6 million tonnes at 1.24 g/t Au and the inferred resource is 6.5 million tonnes at 1.91 g/t Au. Below the constraining shell and using a 2.0 g/t Au cut-off, the property contains 1.7 million tonnes at 2.99 g/t in the indicated category and 2.0 million tonnes at 2.62 g/t Au.

The former Hope Brook mine produced 752,163 oz of gold from 1987 to 1997 when it was closed. A copper concentrate was also produced from 1993 to 1997.

Resource estimates for varying cut-off grades are available in the Oct. 1, 2012, news release posted at Castillian.ca.