Stunning share price gains for companies invoking the Pilbara conglomerate gold story continued yesterday with Castle Minerals joining the rush.

Castle is focused on gold exploration in Ghana, but its shares closed up more than 200 per cent at a three-year high of 3.4¢ yesterday after it announced it had secured an 80 per cent interest in two exploration licence applications 40km south-west of Marble Bar.

Castle said it had been advised by the prospector applicants they had found gold nuggets on the land.

The applications are said to lie on the so-called Hardey Formation and Mt Roe Basalts at the base of the Fortescue Group, which some believe is geologically linked with the well-endowed Witwatersrand gold basin in South Africa.

Castle’s Managing Director Stephen Stone admitted the transaction was opportunistic, but also based on sound geological research supported by government mapping.

“Castle’s geologists will shortly travel to site to determine if the area meets its geological expectations, to undertake first-pass reconnaissance rock chip sampling, metal detecting and mapping with a view to planning follow-up programs upon licence grant,” he said.

Millennium Minerals also announced yesterday it would review its Nullagine gold project for conglomerate-hosted gold.

It noted Nullagine had already produced more than 45,000oz, but said no detailed assessment had been undertaken of the potential for large-scale, conglomerate-hosted gold mineralisation.

Shares in Millennium, which also released positive drilling results from its Shearers North and Au81 West prospects at Nullagine, yesterday closed up 1.5¢, or 10 per cent, at 16.5¢.

Meanwhile, Coziron was examining its Shepherds Well project near Cape Preston and its other Pilbara tenements for conglomerate gold. Its shares closed up 0.3¢, or 12 per cent, at 2.8¢.

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