Wa Project

The Wa Project covers approximately 10,000 km² in NW Ghana near the border with Burkina Faso and consists of five large Reconnaissance Licences and seventeen Prospecting Licences.

The Project was acquired in November 2007 and in 2009 the Jang and Wonachiyiri RLs were applied for covering a total area of more than 11,000 km². The 1.0Moz Julie gold deposit (ASX:AZM) is located within an excised portion of the Wa Project and the 1.0Moz Kunche and Bepkong gold deposits are located 50km north. Centamin's Konkera gold resource (~3Moz) is located immediately to the west across the border in Burkina Faso.

In 2009 Castle discovered and defined a near surface JORC Code compliant Resource Estimate of 56,000 ounces for the Julie West deposit comprising 415,000 tonnes @ 4.2g/t gold from the natural surface to 80m. (Now sold to Azumah Resources.)

In 2010 the Kandia gold deposit was discovered and an initial resource of 107,500 ounces defined.

2011/12 exploration focussed on the Baayiri Prospect (52m @ 2g/t gold), Danyawu (16m @ 14.7g/t gold), the Pole Auger anomaly, Kandia prospect and the Wa South prospect. (Now sold to a private Ghanaian company.)

Castle purchased its own exploration drill rig that was commissioned onsite in February 2012.

In 2013/14 exploration at Wa South discovered two new zones of gold mineralsation named Bundi and Kpali. Bundi is a 1,200m long surface with a strong zinc association and gold grades to 51g/t gold and is open at depth. Kpali is 4km to the south with significant open ended RC intercepts that include 28m @ 2.26 g/t gold, 14m @ 2.29 g/t gold, 16m @ 3.23 g/t gold and 10m @ 2.01 g/t gold.

In 2014 a new gold target was defined at Kpali East following RAB drilling. Kpali East represents an advanced new gold target that requires RC drill testing.