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VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/14/13 -- Castle Peak Mining Ltd. ('Castle Peak' or the 'Company') (TSX VENTURE: CAP), is pleased to report the final 2012 drill results from the follow up drill program at the Apankrah target on the Company's Akorade project in the southern Ashanti belt, Ghana, West Africa. The compilation and understanding of these results will provide the basis for unlocking additional value with selective exploration programs in 2013. All maps, sections and results tables are available on the Castle Peak website at www.castlepeakmining.com.
Highlights:
-- Apankrah Shoot has now been intersected with a total of 12 drill holes with an average intercept length of 6.6 metres ('m') and an average grade of 5.7 grams per tonne ('g/t') gold ('Au') (bonanza grades in hole NKD022 capped to 50 g/t Au).-- Apankrah structure, open in all directions, is host the to the Apankrah Shoot which has an average strike length of over 100m and is open in all directions and has been traced approx. 300m down plunge and remains open at depth.Highlight intercepts from the Apankrah follow-up drill program:
---------------------------------------------------------------------------- Length Au GradeHole ID Target (m) (g/t)----------------------------------------------------------------------------NKDDH029 Apankrah Shoot 3.0 11.6 Includes 1.1m of 30.5 g/t Au----------------------------------------------------------------------------NKDDH030 Apankrah Shoot 5.0 8.5 Includes 1.5m of 10.2 g/t Au----------------------------------------------------------------------------
President and CEO Darren Lindsay stated, "I am pleased with the successful completion of our Apankrah drill program on the Apankrah Shoot target. The limited program followed the strong grades down plunge and down dip, and the shoot remains open in all directions. The coarse visible gold style of mineralization with lower grade halo shows the expected high grade variability. Our next step is to internally model this target to determine additional potential of the Apankrah and surrounding structures."
Apankrah Shoot
Modeling of the Apankrah target area has begun and will assist the Company in determining our next exploration steps and further potential of this higher grade target area (see Figure 1 and 2 at http://www.castlepeakmining.com/i/pdf/2013-1-14_NR.pdf). Tracking of both the broader alteration halo and the core mineralization may provide enough geological confidence to contemplate a preliminary resource estimate in 2013.
Drill hole NKDDH029, a roughly 50m step-out down dip of NKDDH022 (a drill hole which returned, uncut, a 6.0 m interval grading 80 g/t Au - August 14, 2012 press release), returned a narrow alteration zone hosting a 3.0 m interval grading 11.58 g/t Au, including 1.1 m of 30.5 g/t Au.
Drill hole NKDDH030, a roughly 50m step-out down plunge of NKDDH022, returned a greater than 13m alteration zone hosting 5.0 m of 8.49 g/t Au, including 1.5 m of 10.2 g/t Au.
