New York, NY (PRWEB) August 17, 2009
Mining MarketWatch Journal has published a review on Duncastle Gold Corp. (TSX VENTURE: DUN) (Frankfurt: 5D3). The review offers insight and opportunity afforded investors as DUN.V is advancing development of the historically successful Yankee-Dundee mine and the surrounding Ymir Camp in southeastern BC, encountering very good grades in the extensions of the old mines and methodically adding value to the prolific gold-silver vein system.
The full review and valuation commentary may be found at: http://miningmarketwatch.net/dun.htm online.
With assistance from the proven exploration and ounce building capability of the Manex Resource Group, Duncastle has drilled over 6,000m in 42 holes, found numerous extensions of the old mine(s), and recorded impressive grades within the core of the most advanced shoot (the Yukon shoot) at 3.23 metres of 14.1g/t gold, 281g/t silver, 11.1% lead and 12.6% zinc - all part of a broader zone with very good grades. As the largest mine in the Ymir camp, the Yankee-Dundee mine is a significant past producer. Duncastle has been consolidating properties in the area over the last several years to the point they now control most of the historic Ymir Camp which was at one time the largest silver producer in the British Commonwealth (BC MEMPR Bulletin 109, 2001). Consolidation and control of this proven area are key in taking the project to the point a major would be interested in considering acquisition. A steady flow of exploration results and developments are expected, offering numerous catalysts for share price appreciation. Risk is minimized by expanding on a proven past producing area, plus sizeable time and cost savings are realized by taking advantage of existing infrastructure, including adits which are in excellent condition and provide immediate exploration access.
Duncastle Gold Corp. is following a familiar and successful formula - look for new mines beside significant past producing mines. There are numerous past producers in addition to the Yankee Girl and Dundee mines within the historically successful Ymir Camp now held under 100% option by Duncastle Gold Corp.
Yankee-Dundee Mine and Surrounding Ymir Camp
100% owned • Gold-Silver-Lead-Zinc and other minerals • Significant Past Producer
The Yankee-Dundee claims cover 5,987 hectares consisting of 95 mineral claims and 26 crown granted claims (patented), located 3 km east of Ymir, BC (53 km northeast of Trail, BC). Hosted in rocks of the Kootenay Terrane and Nelson Batholith the claims contain multiple precious and base metal occurrences including the Yankee Girl and Dundee veins.
Duncastle Gold Corp. was originally interested in the area because of the history of the mine; this is a historic mining district (see history section below) which operated very successfully from late 1800's to the 1950s and was in the 1930s reported to be the largest silver producer in the British Commonwealth. Like many mines in BC, the Yankee-Dundee and other mines in the Ymir camp closed in the early 1950s for reasons of economics, politics, and, in the case of the Yankee-Dundee, a 20% NSR on the project. When Duncastle acquired the project in 2007 no one had looked at it with a systematic and well funded exploration program for over 50 years for the same political and economic factors that brought closure as well as because many of the holdings remained stubbornly fragmented for years. The recent efforts to consolidate the area by companies like Duncastle and Valterra (a sister company through the Manex Resource Group) has the mining world rediscovered the fact the southeastern corner of BC is very prolific in terms of mining potential.
Mining Potential at Yankee Girl and Dundee
For a company with an eye on exploration, the Yankee-Dundee project presents Duncastle with great potential supported with good infrastructure. Based on the fact that mines on DUN.V claims were once such significant producers and largely ignored since the 1950's, it stands to reason that modern exploration techniques will reveal what was missed or never got to -- It is believed a world class deposit exists within and evidence suggests this may become a reality within the next few years...
Since picking up the claims Duncastle has drilled just over 6,079 meters in 42 holes, found extensions of the old mine(s), has numerous targets and is systematically adding value to the prolific high grade gold-silver vein system.
The Yukon shoot is one of several thicker and more continuous mineralized lenses that occur as extensions to the Yankee Girl mine and is a big part of the story today. The core of the shoot is 3.23m of 14.1g/t gold, 281g/t silver, 11.1% lead and 12.6% zinc, within a broader zone of 13.9m of 3g/t gold, 64g/t silver, 2.5% lead, and 3.1% zinc.
The 2009 drilling efforts have targeted and successfully tested the Max and 400 shoots which are located on either side of the Yukon Shoot along the Yankee Girl structure. The Vice-President and Director of Operations for Duncastle Gold Corp. Michael Rowley, RPBio., was contacted by Mining MarketWatch Journal in conducting research for this article. Michael Rowley explained how finding these shoots and adding them up is key to Duncastle's vision "The plan now is to build up the hits to the point at which we can start compiling a resource. While we would like to hit the million ounce gold number, we have been told 500,000 oz gold would be a fine reserve to build from in this neighbourhood given the infrastructure and the fact the Wildhorse adit is already there -- that's a savings of over $2,000,000 in commissioning the mine. Also, the Teck-Cominco smelter at Trail, BC is only 53km away, so 500,000 ounces may be enough to make an attractive producer out of this project".