Vancouver A $1.6-million private placement will help Castleworth Ventures (WTH-V) fund ongoing exploration at the Pan gold project situated 20 miles southeast of Eureka, Nevada.
The Pan project lies within the southeastern extension of the Battle Mountain-Eureka Trend, and includes known resources of 15.8 million tons of 0.019 oz. gold per ton in the measured and indicated category. A further 8.3 million tons at 0.017 oz. gold are classified as inferred resources.
Castleworth plans to test new targets west of the known resource areas in the next round of exploration, including targets outlined by recent soil geochemical programs. Among the drill-ready targets is the Black Stallion gold prospect discovered in 2004.
Castleworth holds more than 10,000 acres of prospective ground in Nevada. Two projects are on the Battle Mountain-Eureka trend, one is on the Carlin Trend, and three are on the Tonopah/Walker Lane trend.
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