|By Marketwired .||
|March 18, 2014 11:00 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/19/14 -- As a result of a review by the British Columbia Securities Commission, Castle Peak Mining Ltd. ("Castle Peak" or the "Company") (TSX VENTURE:CAP) is issuing this news release to clarify and retract certain technical disclosure.
Castle Peak's November 19, 2013 news release, November 2013 corporate presentation and Management's Discussion & Analysis for the period ended September 30, 2013 disclose that the Company was undertaking an internal conceptual study in order to consider the potential development of the Akorade Project with a view to completing a preliminary economic assessment ("PEA") on the Akorade Project. In addition, in a March 2013 interview with Proactive Investors, the Company stated that "next steps (include) internally modelling the Apankrah target in order to evaluate underlying economics and determine overall potential" of the project.
The Company clarifies that the foregoing internal conceptual study does not imply the results of any economic analysis in respect of the project, that a preliminary economic analysis has not been prepared in respect to the development of the project, and that the mineral resources of the project are classified as inferred mineral resources, meaning that they are considered too speculative, geologically, to have economics applied to them and there is no certainty that economic results can be achieved. The Company further clarifies that a development decision has not yet been made in respect of the Akorade Project and any such conceptual planning is subject to change.
The Company retracts all disclosure in the above-noted documents and interview that relate to the internal conceptual study and advises the non-compliant disclosure should not be relied upon. Accordingly, any persons that still have copies of the documents or interview should not rely upon them. The internal conceptual study referred to in those documents and in that interview is not supported by a technical report compliant with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), which is not in compliance with NI 43-101. The retracted information was not the subject of a complete report, and such report cannot be completed without significant additional work which must be completed by an independent qualified person under NI 43-101.
Castle Peak's technical disclosure in this news release has been reviewed and approved by Darren Lindsay, P.Geo., Castle Peak's President and CEO, who serves as a Qualified Person under the definition in NI 43-101. The Akorade Project represents early stage exploration properties which include a mineral resource on the Apankrah Deposit with an effective date of June 1, 2013, as described in the "NI 43-101 Technical Report on The Apankrah Project, Western Region, Ghana", dated June 1, 2013, authored by Simon Meadows Smith (IOM3), a fulltime employee of SEMS, who acts as an independent consultant to the Company. A copy of the report, as amended, is filed under the Company's profile on SEDAR at www.sedar.com and the Castle Peak website.
About Castle Peak
Castle Peak Mining Ltd. is a Canadian-based mineral exploration company focused on advancing greenfields and early stage gold projects. The Company holds a large, strategic land package in the Ashanti belt adjacent to several producing gold mines in Ghana, West Africa. The Ashanti belt is known as one of the most prolific gold belts in the world, putting Ghana as the second largest gold producer in Africa with past production of greater than 150 million ounces. The investment inflow for Ghana's mining sector since 1983 has been about $12.5 billion, with production the highest in the history of the country at 4.2 million ounces in 2012 (source: Ghana Business News, April 8, 2013).
On behalf of the Board of Castle Peak Mining Ltd.:
Darren Lindsay, President and Chief Executive Officer
Except for statements of historical fact, this news release contains certain 'forward-looking information' and 'forward-looking statements' within the meaning of applicable securities laws including statements regarding future exploration and development at the Akorade Project. Such forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to known and unknown risks, uncertainties and assumptions that could cause actual results to vary materially from the anticipated results or events predicted in these forward-looking statements, including those risk factors identified in the Company's Annual MD&A filed under the Company's SEDAR profile. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this release. Except as required by applicable law, Castle Peak disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and ...
Oct. 31, 2014 04:15 AM EDT Reads: 1,994
We live in a time when seconds – even milliseconds – can have a dramatic economic impact on your company’s future. With technology being the primary conduit for consumer interaction, the user experience is at center stage. User experience will be a deciding factor in separating the future winners from the losers. By building more speed and agility into the application delivery process, DevOps prom...
Oct. 31, 2014 04:00 AM EDT Reads: 1,114
Ixia develops amazing products so its customers can connect the world. Ixia helps its customers provide an always-on user experience through fast, secure delivery of dynamic connected technologies and services. Through actionable insights that accelerate and secure application and service delivery, Ixia's customers benefit from faster time to market, optimized application performance and higher-qu...
Oct. 30, 2014 07:00 PM EDT Reads: 1,829
When an enterprise builds a hybrid IaaS cloud connecting its data center to one or more public clouds, security is often a major topic along with the other challenges involved. Security is closely intertwined with the networking choices made for the hybrid cloud. Traditional networking approaches for building a hybrid cloud try to kludge together the enterprise infrastructure with the public clou...
Oct. 30, 2014 07:00 PM EDT Reads: 1,521
SYS-CON Events announced today that Stratogent will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Stratogent is a custom managed services organization based in San Mateo, California. We design, implement, and support mission critical infrastructure 24x7 on premises, in datacenters and in t...
Oct. 30, 2014 06:45 PM EDT Reads: 2,138
SYS-CON Events announced today that Grid Dynamics, the leading provider of scalable eCommerce technology solutions, will exhibit at DevOps Summit Silicon Valley, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Grid Dynamics is a leading provider of open, scalable, next-generation commerce technology solutions for Tier 1 retail. Grid Dynamics h...
Oct. 30, 2014 06:00 PM EDT Reads: 1,135
SYS-CON Events announced today that Harbinger Systems will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Harbinger Systems is a global company providing software technology services. Since 1990, Harbinger has developed a strong customer base worldwide. Its customers include software product...
Oct. 30, 2014 06:00 PM EDT Reads: 3,161
The only place to be June 9-11 is Cloud Expo & @ThingsExpo 2015 East at the Javits Center in New York City. Join us there as delegates from all over the world come to listen to and engage with speakers & sponsors from the leading Cloud Computing, IoT & Big Data companies. Cloud Expo & @ThingsExpo are the leading events covering the booming market of Cloud Computing, IoT & Big Data for the enterp...
Oct. 30, 2014 05:30 PM EDT Reads: 1,201
SYS-CON Events announces a new pavilion on the Cloud Expo floor where WebRTC converges with the Internet of Things. Pavilion will showcase WebRTC and the Internet of Things. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices--co...
Oct. 30, 2014 05:30 PM EDT Reads: 2,168
Docker offers a new, lightweight approach to application portability. Applications are shipped using a common container format and managed with a high-level API. Their processes run within isolated namespaces that abstract the operating environment independently of the distribution, versions, network setup, and other details of this environment. This "containerization" has often been nicknamed "th...
Oct. 30, 2014 05:00 PM EDT Reads: 1,782