CRESCENT GOLD ANNOUNCES HIGH-GRADE CRAIGGIEMORE DRILLING RESULTS
Gold producer, Crescent Gold Limited (ASX:CRE, TSX:CRA) announces it has recorded significant high-grade intersections in recent reverse circulation (RC) drilling at its Craiggiemore gold project near Laverton.
Significant intersections include 8m at 7.5g/t gold, 11m at 5.1g/t gold, 6m at 7.0g/t gold and 13m at 3.6g/t gold.
Located 3km southwest of Laverton, the Craiggiemore development project on mining lease 38/270 is 15 km distance from Barrick Gold Corporation’s processing facility at Granny Smith where Crescent is currently milling its ore.
Crescent Gold Managing Director
”The Craiggiemore project includes Craiggiemore, Mary Mac South and Mary Mac gold deposits, held 100% by Crescent Gold Limited. These high-grade intercepts auger well for the future exploration potential of the Craiggiemore project,” Mr Hill said.
“Two RC drill rigs are continuing the infill and extensional drilling on the Craiggiemore project, with further diamond drilling expected to commence in April 2010. Mining on the Craiggiemore resource is expected to commence mid-2010, with the Mary Mac South and Mary Mac resources expected to follow-on.”
In addition to early historic mining production from underground operations on the Craiggiemore and Mary Mac prospects, open cut mining between 1988 and 1990 at Craiggiemore by Ashton Gold Mines Pty Limited produced (milled) a total of 417,700 tonnes for 34,700oz gold.
Since commencing in late November 2009, the latest round of RC drilling on the Craiggiemore project has seen 65 holes drilled for 6,178m. The purpose of the drilling was to infill and extend the known mineralisation on the Craiggiemore project.
Crescent has previously reported a Probable Reserve at Mary Mac South of 110,000t at 1.9g/t gold and an Indicated and Inferred Resource (inclusive of the Reserve) of 600,000t at 1.9g/t gold. Crescent has also previously announced a Measured, Indicated and Inferred Resource for Craiggiemore of 1,600,000t at 1.6g/t gold. Full details of these resources and reserve are presented in the Crescent Gold 2009 Annual Report.
Longer term development focus will examine the potential for future underground operations. Structurally controlled ore shoots within the host sequence are interpreted to plunge shallowly to the north. High grade gold intersections within these plunging shoots extend below the planned open pit and will drive this exploration.
No comments:
Post a Comment