Strong Gold Intercepts at Kpali and Kandia Projects Extend Mineralisation Depths

Robust Drilling Results Highlight Kpali and Kandia Projects

Castle Minerals Limited (ASX, CDT) has delivered a compelling update from its June 2025 quarter activities, reporting a series of strong gold intercepts from its flagship Kpali and Kandia Gold Projects in Ghana’s Upper West Region. The company’s drilling campaigns have revealed multiple high-grade gold zones at relatively shallow depths, reinforcing the potential for significant mineralisation within this emerging West African gold frontier.

At the Kpali Prospect, an eight-hole reverse circulation (RC) drilling program totaling 1,106 meters returned standout intercepts including 12 meters at 8.29 grams per tonne (g/t) gold from 25 meters depth, highlighted by a peak 1-meter intercept grading 20.43 g/t. Nearby, the Bundi Prospect’s five-hole infill drilling confirmed continuous mineralisation with intercepts such as 18 meters at 1.22 g/t gold from 89 meters, indicating thickening mineralised zones at depth.

Kandia Project Emerges as a Multi-Deposit Corridor

Further afield, the Kandia Gold Project’s eleven-hole, 1,510-meter RC program has reinforced the concept of a cohesive gold corridor, with mineralisation extending to depths of 150 meters. Notable intercepts include 5 meters at 1.39 g/t gold from 155 meters and a high-grade 1-meter intercept at 9.91 g/t from 50 meters. These results suggest the presence of multiple ore shoots within structurally controlled zones, offering promising targets for follow-up drilling.

Strategic Exploration Plans and Community Commitment

Building on these encouraging results, Castle plans to initiate auger drilling campaigns in August 2025 to test new and existing targets generated from a comprehensive review of historical data and recently acquired high-resolution aeromagnetic surveys. Follow-up RC drilling is scheduled for September, aiming to infill and extend known mineralisation and explore additional high-conviction targets.

Castle’s approach is underpinned by strong community engagement, exemplified by the installation of a potable water bore and pump for the Kandia community during the quarter. This initiative not only supports local well-being but also fosters goodwill essential for sustainable exploration activities.

Financial Position and Broader Portfolio

Financially, Castle raised approximately $193,000 through a loyalty options issue and ended the quarter with $2.5 million in cash. Exploration expenditure for the period was $788,000, reflecting the company’s active drilling programs. While no work was undertaken at the Kambale Graphite Project this quarter, Castle is exploring options to monetise this asset. Additionally, the company maintains interests in Western Australian projects, including an option agreement with Great Boulder Resources for the Polelle and Wanganui projects.

Castle’s Executive Chairman, Stephen Stone, emphasised the company’s systematic exploration strategy and confidence in the region’s potential, noting the geological similarities to other prolific West African gold camps and the strategic proximity to significant deposits such as the Black Volta Gold Project.