VGN Greencastle Resources Ltd

Greencastle Resources Ltd. (TSX VENTURE:VGN) ("Greencastle" or the "Company"),
has completed a total of 915 metres in 4 holes on its initial diamond drilling
program at its Rockstone property. The property, comprising a total of 340 claim
units, is located between Shebandowan and Thunder Bay in Northwest Ontario.


The Rockstone claims are located over a large number of geophysical anomalies
generated from an earlier airborne electromagnetic (VTEM) survey supplied by the
property vendor and covering an area of some 270 square kilometres. Rock outcrop
on the property is sparse but the geology is interpreted to be typical Archean
greenstone belt rocks comprising mafic to felsic metavolcanics with iron
formation and clastic metasediments.


The program was planned to test for the presence of base metal massive sulphides
and provide information from which to further interpret the large number of
geophysical anomalies in the database. All the holes intersected a sequence of
intermediate to mafic pyroclastic volcanic rocks containing common stringers and
disseminations of pyrite and pyrrhotite with locally minor chalcopyrite and
sphalerite. In addition, graphite is commonly observed coating planar surfaces
in varying amounts throughout some sections of the drill holes. The combination
of graphitic and pyrite-pyrrhotite stringer zones in the volcanic stratigraphy
targeted by the drilling could explain the airborne geophysical anomalies tested
to date.


A number of the sulphide-bearing intersections were sampled for gold and base
metals but no significant values were returned. There remains a large number of
conductive geophysical anomalies which merit being drill-tested on the property.
In addition, the Company continues to evaluate the drilling data with a view to
carrying out down-hole geophysical surveying on some of the holes drilled to
date, once other geophysical analyses of the core have been completed.


All technical information in this press release has been reviewed and approved
by James Pirie, P. Eng. who is a Qualified Person ("QP") under National
Instrument 43-101. 


This news release includes certain "forward-looking statements" within the
meaning of that phrase under Canadian securities laws. Without limitation,
statements regarding potential mineralization and resources, exploration
results, and future plans and objectives of the Company are forward-looking
statements that involve various degrees of risk. Forward-looking statements
reflect management's current views with respect to possible future events and
conditions and, by their nature, are based on management's beliefs and
assumptions and subject to known and unknown risks and uncertainties, both
general and specific to the Company. Although the Company believes the
expectations expressed in such forward-looking statements are reasonable, such
statements are not guarantees of future performance and actual results or
developments may differ materially from those in our forward-looking statements.
The following are important factors that could cause the Company's actual
results to differ materially from those expressed or implied by such forward
looking statements: changes in the world wide price of commodities, general
market conditions, risks inherent in exploration, risks associated with
development, construction and mining operations, the uncertainty of future
profitability and the uncertainty of access to additional capital. Additional
information regarding the material factors and assumptions that were applied in
making these forward-looking statements as well as the various risks and
uncertainties we face are described in greater detail in the "Risk Factors"
section of our annual and interim Management's Discussion and Analysis of our
financial results and other continuous disclosure documents and financial
statements we file with the Canadian securities regulatory authorities which are
available at www.sedar.com. The Company undertakes no obligation to update this
forward-looking information except as required by applicable law. The Company
relies on litigation protection for forward looking statements.

Greencastle Resources (TSXV:VGN)
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Greencastle Resources (TSXV:VGN)
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De Jan 2024 à Jan 2025