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Sector: Mining - Metals and Minerals  :

Sub sector: Precious Metals  :

News Release - November 20, 2009 04:34 PM ET  

Duncastle Grooming Past Producing High-Grade Gold-Silver Mine for Low-cost Production, Phase II Drill Results Quadruple Strike Length

NEW YORK, NY, November 20, 2009 /Sector Newswire/ - Precious Metals Review of Duncastle Gold Corp. (TSX-V: DUN) (Frankfurt: 5D3) provides insight into the opportunity afforded investors as DUN.V is advancing development of the historically successful Yankee-Dundee mine and the surrounding Ymir Camp in southeastern BC. Duncastle continues to add shareholder value and is grooming the project for low-cost production. Continuing favorable results from the fall drill program indicate a polymetallic structure rich in gold and silver. The high-grade gold-silver vein system at Duncastle’s Yankee-Dundee Mine is beginning to reveal a deposit close to surface with existing workings, excellent infrastructure, in a pro-industry area close to the Trail, BC smelters.

The full Precious Metals Review with chart may be seen at http://preciousmetalsreview.com/pmrDUNnov09.pdf online.

Excerpts:

With only ~36M shares outstanding and trading under CDN$0.15 DUN.V is poised for significant upside revaluation. DUN.V is part of the Manex Group which took Western Silver from 60 cents in 2002 to over $37 in 2006, as well as numerous other ventures from pennies to several dollars, the Manex Group are experts at adding shareholder value by building ounces in projects of merit.

Duncastle Gold Corp. is a Canadian mineral exploration mining company that is systematically adding value to the prolific Yankee Girl high-grade gold-silver vein system in the Ymir camp, once the largest silver producer in the British Commonwealth.

Results from Phase II Fall Drill Program
Drilling results have successfully increased the size of higher-grade lenses of gold and silver-enriched polymetallic mineralization located along the target horizon and have extended the mineralized zone to the west from the historic Yankee Girl workings to approximately 400 metres in strike-length. The Company reported that drill holes YD09-46 and YD09-45 of the recent Phase II drill program had successfully tested a 100 metre drilling gap between the previously tested ‘400’ and ‘Yukon’ shoots and have effectively combined the two lenses of thicker and higher-grade mineralization into a single lens that has now been drill tested along a 180 metre strike-length and 280 metre dip extent.

Yankee-Dundee Mine & Surrounding Ymir Camp:

Duncastle Gold Corp. (TSX-V: DUN) is now at an inflection point and is poised for significant upside revaluation. Duncastle has nurtured along their 100% owned flagship Yankee-Dundee high-grade gold-silver project in S.E. British Columbia, Canada since going public in late 2007 and is now at a point where the risk-reward characteristics are highly advantageous for investors establishing a long position in DUN.V as the current market cap relative to the inherent value is disproportionate. With assistance from the proven exploration and ounce building capability of the Manex Resource Group, Duncastle has drilled over 7,700m in 48 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.
 
Additionally, Duncastle's other project, Porphyry Creek, has been shown by a BC government report to be in the highest percentile for possible IOCG deposit in British Columbia and it too will be a source of catalysts as developments occur.

The full Precious Metals Review with chart may be seen at http://preciousmetalsreview.com/pmrDUNnov09.pdf online.

This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell and of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URLs.

SOURCE: Sector Newswire per: Precious Metals Review

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