Castillian Acquires Nickel Properties in Kagera Nickel Belt, Tanzania.TORONTO -- This release corrects and replaces the release disseminated on October 4, 2005 at 0800 ET. Castillian Resources Corp. is listed on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. under the symbol "CT" (sted on the TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension exchange). The corrected release reads: CASTILLIAN ACQUIRES NICKEL PROPERTIES IN KAGERA NICKEL BELT
Nickel Belt is an informal nickname for the Sudbury region in Northern Ontario, because of the belt of nickel ore deposits found in the area. , TANZANIA CASTILLIAN RESOURCES CORP. (TSX VENTURE:CT) has entered into an agreement with Tsar Emerald International AB to acquire three nickel properties in the prospective Kagera Nickel Belt, host to the Barrick/Falconbridge Kabanga Nickel Deposit in northwestern Tanzania. The three properties, NE Kabanga, Burigi and Kibombo - collectively the Kagera Nickel Project The Nickel Project is a nickname for a transportation funding package enacted by the 2003 Washington State Legislature. The slogan for the package is "It’s your Nickel, Watch it Work." The $3. , comprise a large land position, approximately 1752 square kilometres within the Kibaran Orogenic Belt, a north-northeasterly trending metasedimentary sequence along the western border of Tanzania which is intruded by mafic and ultramafic ul·tra·maf·ic adj. Ultrabasic. ultramafic Containing mainly mafic minerals. Used of igneous rocks and often used interchangeably with ultrabasic. Dunite is an ultramafic rock. intrusions with associated nickel and copper mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. , including the Kabanga Nickel Deposit. The Kabanga Nickel Deposit, owned by Barrick Gold Barrick Gold Corporation TSX: ABX NYSE: ABX is the largest pure gold mining company in the world, with its headquarters in Toronto, Ontario, Canada; and four regional business units (RBU's) located in Australia, Africa, North America and South America. Corporation and subject to an exploration and development joint venture between Barrick and Falconbridge Limited, was discovered after a large comprehensive geochemical and geophysical program during the 1970s by the United Nations Development Program (UNDP UNDP United Nations Development Programme UNDP Unión Nacional para la Democracia y el Progreso (National Union for Democracy and Progress) ) identified a chain of coincident airborne magnetic and geochemical anomalies within a 20-30km wide northeasterly north·east·er·ly adj. 1. Situated toward the northeast. 2. Coming or being from the northeast. north·east trending belt extending over 200km in length from Burundi in the south, through western Tanzania to Uganda in the north. The Kabanga Ni-Cu Deposit, which is within 25 kilometers of the Kagera Nickel Project, with an Inferred Resource of 26.4 million tonnes grading 2.6% nickel, 0.27% copper and 0.16% cobalt (Barrick Gold Corporation, Feb 2003) was discovered by following up one of the UNDP anomalies; additional mineralization has also been reported at a new adjacent discovery, the MNB MNB Magyar Nemzeti Bank (National Bank of Hungary) MNB Multi-National Brigade (NATO) MNB Mint Condition, No Box MNB Metropolitan National Bank MNB Michigan National Bank MNB Merchants' National Bank Deposit. The Kagara Nickel Project areas were selected to cover other identified magnetic geophysical anomalies and nickel and other associated metal geochemical anomalies within the northern extension of the Kagera Belt to the north from Kabanga. Two of the five target areas recommended by the UNDP evaluation mission in 1979, Anomalies 29-04 and 18-01, are located within the Kagara Nickel Project area; the other three recommended targets are within ground held by Barrick/Falconbridge, one of which is the Kabanga discovery. Initial reconnaissance exploration work will comprise follow-up geological, geophysical and geochemical surveys to identify areas of specific interest within the broader regional anomalies detected by the UNDP surveys. To acquire the right to earn up to a 100% interest in Sagittarius Minerals (Tanzania) Limited ("Sagittarius"), a Tanzanian company that holds title to the nickel properties, Castillian will make a one time cash payment of $100,000 to Tsar Emerald International AB. ("Tsar") and assume the agreement that Tsar has with the owners of Sagittarius to acquire this Tanzanian company. Castillian would be required to issue the equivalent of CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $30,000 worth of common shares of Castillian to the current shareholders of Sagitarrius, on each of the 30 day, 6 month, 12 month and 18 month respective anniversaries of the receipt of regulatory approval for the transaction. The agreements referred to above remain subject to receipt of regulatory approval. Castillian's President, Mr John Buckle commented, "We are excited about securing a land position within such a favourable geological terrain. The project areas have had only cursory historical exploration and, given the presence of anomalies defined by the UNDP work, considerable potential exists for discovery of significant nickel-copper sulphide mineralization." Mr. Douglas A Currie, MAusIMM, an independent geological consultant to the company, is the Qualified Person responsible for the technical disclosure in this press release. Castillian Resources Corp. is a Canadian mineral exploration company listed on the TSX Venture Exchange under the symbol "CT". To view a map of the Kibaran Belt, Tanzania please click on the following link: http://www.ccnmatthews.com/docs/ctmap.pdf Castillian Resources Corp. (TSX VENTURE:CT) |
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