NewCastle Gold Appoints Gerald Panneton as President and Chief Executive Officer
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Gerald Panneton
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NewCastle Gold Ltd. has appointed Gerald Panneton as president and chief executive officer.
Gerald Panneton, a geologist with over 30 years in mineral exploration and development, was the founder, president and chief executive officer of Detour Gold Corporation from its incorporation in July 2006 until November 2013. Under his leadership, the Detour Lake Project grew from 1.5 million ounces in resources to over 16 million ounces in reserves and into production in less than 6 years after its acquisition. The Detour Lake Mine now ranks as the largest gold mine in Canada.
From 1994 to 2006 Panneton was with Barrick Gold Corporation where for the last six years of his tenure he was director of advanced projects and evaluations for the exploration and corporate development group. Prior to Barrick Gold, he worked for Lac Minerals, Placer Dome Exploration and Vior-Mazarin Group.
“We are very pleased that Gerald has agreed to join our team as we expand the drill program on our highly prospective Castle Mountain Project. Gerald successfully brought the Detour Lake Project from the exploration stage into production and we look forward to his guidance and leadership on Castle Mountain,” said Richard Warke, executive chairman of NewCastle Gold.
Panneton received his Bachelor of Science in Geology at the University of Montreal and his Master of Science in Geology from McGill University. Panneton and his team were the recipients of the PDAC 2011 Bill Dennis Award for a Canadian mineral discovery and prospecting success.
About NewCastle
NewCastle has 100 percent of the right, title and beneficial interest in and to the Castle Mountain Venture, a California general partnership, which owns the Castle Mountain property in San Bernardino County, California. The Castle Mountain heap leach gold mine produced over one million ounces of gold from 1992 to 2001, when mining was suspended due to low gold prices. An updated NI 43-101 resource for the project was announced December 2, 2015 which includes measured mineral resources of 17.4 million tonnes grading 0.86 g/t gold containing 0.48 million gold ounces, indicated mineral resources of 202.5 million tonnes grading 0.57 g/t gold containing 3.71 million gold ounces along with inferred mineral resources of 40.8 million tonnes grading 0.58 g/t gold containing 0.76 million gold ounces.
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