VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/17/13 -- Duncastle Gold Corp. ("Duncastle") (TSX VENTURE: DUN)(FRANKFURT: 5D3) reported today that it has signed a contract with Fugro Airborne Surveys to complete a 233 line-km helicopter-borne geophysical survey on its recently acquired Drayton gold project, located 10 kilometers south of Sioux Lookout and 70 kilometers east of Dryden in northwest Ontario.
The Drayton project lies on an emerging high-grade gold trend and is on strike with Tamaka Gold Corp's Goldlund project and Treasury Metal Inc's Goliath project to the southwest and Duncastle's recently optioned Black Lake project to the northeast. The property has not been previously explored with modern geophysics.
A combined electromagnetic (DIGEM EM) and magnetometer survey with 75 meter line spacing and 600 meter tie lines has been selected for the 15.8 square kilometer project in order to define potentially gold-bearing structures associated with sulphide mineralization and siliceous bodies. Deliverables include maps of both the electromagnetic and magnetic data, identified anomalies, and calculated vertical gradients, which will be used to identify targets below extensive shallow ground cover for drill testing later in 2013.
About Duncastle Gold
Duncastle Gold Corp. is a Vancouver-based exploration and development company with 100% ownership potential on over 510 square kilometers of projects in Ontario and British Columbia, Canada. In addition to three newly acquired gold projects in Ontario and the past-producing Yankee-Dundee Mine in southeast BC, Duncastle controls the highly prospective polymetallic Porphyry Creek project in northwest BC.
As part of the Manex Resource Group, Duncastle benefits from shared expertise in corporate finance, public company administration, investor relations, and technical and geological services provided for seven public companies active in North America. Since its formation in 1997, the Manex Group companies have raised over $350 million in exploration financing.
Rob Macdonald, (P.Geo.), is the Qualified Person responsible for reviewing the technical results in this release.
On behalf of the Board of Directors,
Michael Rowley, President, Director
Duncastle Gold Corp.
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the company's projects, and the availability of financing for the company's development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Duncastle Gold Corp. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Duncastle Gold Corp.
1.888.456.1112 or 604.641.2742
Duncastle Gold Corp.
1.888.456.1112 or 604.641.2773
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