Posted by Peter Grandich at 8:47 AM on Thursday, January 28th, 2010
Crescent Resources released encouraging results from their 2009 exploration and sampling program this morning and the results confirm that Crescent is in the right geological address to find another elephant. Geological mapping work has shown that the Crescent ground is indeed in the same geological system as Evolving Gold’s Rattlesnake Hills project and the program successfully identified targets for follow-up detailed exploration work and possibly drilling this spring. In addition, phase one reconnaissance exploration confirmed the presence of elevated gold and arsenic values (an important pathfinder) in rock samples and therefore the potential for the discovery of alkaline related gold mineralization similar to the significant discovery next door at Evolving Gold’s Rattlesnake Hills Gold Project and Cripple Creek in Colorado.
It is currently the “off season” due to winter conditions for both companies working in the Rattlesnake Hills, but this has created a window of opportunity for the speculative investor as the area should once again be a center of exploration activity come spring. With a market cap of only $ 4.8 million, Crescent represents a low cost, yet highly speculative, opportunity to have exposure to a potential gold discovery in a proven geological environment for discoveries.
