Billiken, under the exploration program, is expected to compile the existing data, map, muck out and sample many known historic trenches found in the Fault Creek area, and drill test along the strike and under known showings using a man portable prospector drill.
Newcastle president Michael Romanik said, "We have structured this modest exploration plan to give Newcastle the best value for money and we look forward to the drill results in the next 8 to 10 weeks."
Nine grab samples were collected from iron formation by the company which identified anomalous gold values, during a mapping and sampling program conducted in 2011 in the Fault Creek area; however bad weather interrupted work.
The company could not locate the actual showing and follow-up work was recommended.
Newcastle has also announced that it has optioned for about 4,400ha of property adjacent to its current land package and east of gold producing Dona Lake Mine project.
The company has an option to acquire 21 mineral claims and increase its current Pickle Lake property holdings to 15,500ha. The acquisition is subject to regulatory approvals.
The company would have to pay C$102,000 ($103490.2) and its 600,000 common shares over the next four years to the optionor and a smelter royalty of 1.2%.
Newcastle can also buy one-half of the royalty from the unknown optionor for a one-time payment of C$1m ($1m).
