FSC / Press Release
Newcastle Engages Mph Consulting For Ni 43-101 Technical Report on Swayze Gold
Properties adjoin IAMGOLD's multi-million ounce Cote Gold Project
Victoria, British Columbia CANADA, January 14, 2013 /FSC/ - Newcastle Minerals
Ltd.(TSXV: NCM) (USOTC: NCMBF)is pleased report it has engaged MPH Consulting
Limited to complete a National Instrument (NI) 43-101-compliant technical report
on the company's Swayze Belt Properties that adjoin IAMGOLD Corporation's
multi-million ounce Cote Gold Project located halfway between Timmins and
Based on historical and recent exploration data, MPH Consulting has concluded
"Newcastle's Swayze Properties represent very good exploration prospects in an
established, formerly producing, gold district and adjacent to Iamgold Corp's
Cote Gold advanced gold exploration project.
Although the Swayze Belt has seen exploration activities throughout much of the
20th century and in more recent years, the overall level and sophistication of
work is significantly less here than along the more famous and productive
paleotectonic settings along the Porcupine-Destor and Larder Lake-Cadillac
Breaks. It is rare to encounter a section along the Larder Lake-Cadillac Break
without extensive multidisciplinary exploration and drilling campaigns. Even
areas with hundreds of meters of Proterozic cover sediments have been drilled.
Geological studies have now clearly established that both major Breaks extend
into the Swayze Belt and that the Ridout Deformation Zone is the extension of
the Larder Lake-Cadillac Break. Newcastle's Neville-Potier Property covers an
approximately fifteen kilometre swath along the Ridout Break and that section
has a grand total of four drill holes.
There have been significant advances in geophysical surveying since the 1980s
when the bulk of the historical exploration work was done on the Properties.
This is particularly relevant with respect to interpretation of high-resolution
magnetic surveys for structural/stratigraphic mapping and the detection and
delineation of deeper resistivity and chargeability targets by Induced
Proceeds from the proposed flow-through financing previously announced on
January 10th will be used to initiate an exploration program based on the
recommendations made by MPH Consulting.
"Given the findings of MPH Consulting, it only makes sense to focus our initial
2013 exploration activities on our Swayze Properties that adjoin IAMGOLD's
multi-million ounce Cote Gold Project. Particularly as IAMGOLD is Newcastle's
largest shareholder," said Newcastle's President, Michael Romanik.
The NI 43-101 technical report will be completed in the coming weeks and made
available online at www.sedar.com.
The technical information herein was prepared under the supervision of Howard
Coates, MSc., P.Geo., of MPH Consulting Limited, who acts as Newcastle's
Qualified Person as defined by National Instrument 43-101.
About Newcastle Minerals
Newcastle Minerals Ltd. is a Canadian gold exploration company trading on the
TSX Venture Exchange (TSXV: NCM). The Company is advancing its three key
properties: the 15,500-hectare Pickle Lake Property in northwestern Ontario, its
6,898-hectare property located in the Swayze greenstone belt of Ontario near
IAMGOLD's Cote Gold Project, and its 120-hectare Carscallen Property in the West
Timmins area of Ontario.
ON BEHALF OF THE BOARD
Signed "Michael Romanik"
Michael Romanik, President
Direct line: (204) 724-0613
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.
To view this press release as a webpage please click on the following link:
Source: Newcastle Minerals Ltd. (TSX-V: NCM) http://www.newcastleminerals.com
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-0- Jan/14/2013 13:29 GMT
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