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Castlemaine Goldfields Ltd, Ballarat Gold Project: Inaugural Britannia Mako Inferred Resource

Castlemaine Goldfields Ltd (CGT) announces its inaugural resource estimation from drilling results on the Mako Fault Zone in the Britannia compartment at the Ballarat Gold Project.

Summary:-

- Total Inferred Mineral Resource1 for the Britannia compartment of:-
100,000 tonnes at 8.0 g/t Au for 25,700 ounces of gold

- Gold grade ranging from 4.0 to 9.0 g/t Au

- Exploration Target2 of 60,000 to 120,000 tonnes at between 3 and 7 g/t Au identified in adjacent areas of the Britannia compartment

- Southern extensions within the Britannia compartment possible with assays awaited for a visible gold in quartz intersection 30m south of the Mako Deep lode

- Recent exploration result of 6.75m @ 10.3 g/t Au from infill drilling

- A revised total Exploration Target2 for the Ballarat Gold Project of:-
390,000 to 770,000 tonnes at between 4 and 8 g/t Au for a potential 50,000 to 195,000 ounces of gold.


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