Castle Rock secures drill permits

Drill permits have been granted to Castle Rock Explorations (VSE) for three prospective properties north of the Voisey Bay discovery in Labrador.

One of these, the Okak Bay property, is a joint venture between Castle Rock and United Compass Resources (VSE). Each company can earn a 35% interest from St. John’s-based Newfoundland Mining & Exploration.

Semi-massive sulphide mineralization occurs along the edge of a northwest-trending valley and carries elevated values of nickel, copper and cobalt over a distance of 3 km. A strong electromagnetic conductor trends parallel to the mineralization.

Surface sampling over a 500-metre area has returned consistent values exceeding 1% nickel, with the best sample yielding 1.76% nickel, 1.34% copper and 0.21% cobalt. An initial 5-hole drill program is planned.

Meanwhile, at least six holes will test the NBK property, which is fully owned by Castle Rock subject to a 10% back-in interest held by Connecticut Development (VSE).

Airborne electromagnetic surveys, combined with ground max-min surveying and prospecting, have defined six electromagnetic conductors that coincide with anomalous nickel-copper-cobalt values. Values as high as 1.71% nickel, 1.9% copper and 0.23% cobalt were previously reported.

Before year-end, Castle Rock expects to drill-test the Krinor property, where ground max-min surveys are already in progress. Airborne geophysical surveys will focus on two massive sulphide zones, which have returned a sample value as high as 1.31% nickel, 0.52% copper and 0.21% cobalt.

Castle Rock and Consolidated Magna Ventures (VSE) each has the right to earn a 33.33% interest in Krinor.