Gold is core our focus - Exploration: Uranium

Target mid 2009 to recommence production

Free
Message: Crescent Gold Limited: Strong Gold Results in




Diamond Drilling-Laverton Gold Project

ccnm



SUBIACO, WESTERN AUSTRALIA--(Marketwire - April 5, 2011) -


NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES


Crescent Gold Limited (TSX:CRA)(ASX:CRE)(FRANKFURT:CRE5), the Australian gold miner and resources developer, today reported encouraging results from diamond core drilling at the Company's Apollo, Aurora and Calypso gold resources, part of its broader Laverton gold project in Western Australia.


The purpose of the drilling was to supply material for density testwork, provide high quality samples for comparative work against previous RC drill samples and to build a better understanding of geological controls on mineralisation.


The most significant recorded intersections from the diamond drilling include:

12.1m @ 12.58 g/t Au, including 5.9m @ 21.85 g/t Au
4.5m @ 3.62 g/t Au
11.9m @ 1.27 g/t Au



(A full table of intercepts greater than 0.8 g/t received in this programme is included below along with a list of collars).


Crescent Gold's Managing Director, Mr Mark Tory, commented:


"We are very excited with the continuation of encouraging drilling results from the Apollo, Aurora and Calypso gold resources. These results and further planned drilling on the resources will likely enable the Company to extend its resource base."


The Apollo deposit is located 8 kilometres southwest of Laverton and approximately 20 kilometres from Barrick's Granny Smith Mill (BGSM). Crescent has an Ore Purchase Agreement (OPA) with subsidiaries of Barrick Gold for the sale of Crescent's gold ore to Barrick for processing at BGSM.


The Apollo, Aurora and Calypso gold projects, are part of an 11 km trend of gold mineralisation that also includes the Liberty, Eclipse and Emerald projects. These six projects as at 30 June 2010 were estimated to contain combined indicated and inferred resources of 502,000 ounces gold. A breakdown of these resources is provided in the Crescent Gold 2010 Annual Report. The projects are located on mining leases 38/49, 38/535 and 38/101, held 100% by Crescent Gold Limited.


This announcement is based on results from 8 diamond core holes totalling 604 metres. Four holes were drilled at Apollo, 2 holes at Aurora and 2 holes at Calypso. Crescent is continuing the development of these deposits, with further infill RC, diamond core drilling and associated development studies set to commence. The Apollo area is also currently being assessed for additional deep RC / diamond core drill targets.

---------------------------------------------------------------------------
DD DRILLING SIGNIFICANT RESULTS
---------------------------------------------------------------------------
GRADE
HOLE FROM TO INTERVAL (g/t MGA MGA
No. (m) (m) (m) Au) SIGNIFICANT INTERCEPTS EAST NORTH
---------------------------------------------------------------------------
WHDD003 68.9 81.0 12.1 12.58 12.1m @ 12.58 g/t 433527 6830040
---------------------------------------------------------------------------
Including 71.0 76.9 5.9 21.85 5.9m @ 21.85 g/t 433527 6830040
---------------------------------------------------------------------------
INDD002 28.5 33.0 4.5 3.62 4.5m @ 3.62 g/t 433967 6832308
---------------------------------------------------------------------------
WHDD001 46.1 58.0 11.9 1.27 11.9m @ 1.27 g/t 433704 6830853
---------------------------------------------------------------------------
WHDD001 61.0 67.0 6.0 2.49 6.0m @ 2.49 g/t 433704 6830853
---------------------------------------------------------------------------
WHDD004 56.1 61.0 4.9 2.14 4.9m @ 2.14 g/t 433251 6829408
---------------------------------------------------------------------------
INDD002 37.0 40.5 3.5 2.84 3.5m @ 2.84 g/t 433967 6832308
---------------------------------------------------------------------------
BCDD002 41.4 44.8 3.4 2.25 3.4m @ 2.25 g/t 433929 6837933
---------------------------------------------------------------------------
WHDD002 21.1 28.2 7.1 1.07 7.1m @ 1.07 g/t 433676 6830483
---------------------------------------------------------------------------
WHDD004 49.3 54.0 4.7 1.61 4.7m @ 1.61 g/t 433251 6829408
---------------------------------------------------------------------------
WHDD002 33.0 38.0 5.0 1.23 5.0m @ 1.23 g/t 433676 6830483
---------------------------------------------------------------------------
INDD001 80.0 84.0 4.0 1.33 4.0m @ 1.33 g/t 434084 6832458
---------------------------------------------------------------------------
Selection criteria: 0.8g/t gold lower cut-off, minimum down-hole width of
2m and maximum down-hole internal dilution of 2m. The tables list only
those intercepts with a gram-metre product greater than or equal to 5 gram-
metres. Core recovery was excellent, at typically better than 97 % over
intervals reported.
---------------------------------------------------------------------------
CRESCENT GOLD DD DRILLING COLLARS
---------------------------------------------------------------------------
HOLE MGA_51_ MGA_51_ MGA_51_ MGA_51_ MGA_51_ TOTAL LOCAL_ LOCAL_ LOCAL_
No. EAST NORTH RL AZI DIP DEPTH EAST NORTH RL
---------------------------------------------------------------------------
BCDD001 433954 6838108 430 270 -60 70 433816 6837949 430
---------------------------------------------------------------------------
BCDD002 433929 6837933 431 270 -60 70 433791 6837774 431
---------------------------------------------------------------------------
INDD001 434084 6832458 435 270 -60 102.5 433946 6832299 435
---------------------------------------------------------------------------
INDD002 433967 6832308 435 270 -60 61.7 433829 6832149 435
---------------------------------------------------------------------------
WHDD001 433704 6830853 435 270 -60 75 433566 6830695 435
---------------------------------------------------------------------------
WHDD002 433676 6830483 435 270 -60 50 433538 6830325 435
---------------------------------------------------------------------------
WHDD003 433527 6830040 435 270 -60 90 433389 6829882 435
---------------------------------------------------------------------------
WHDD004 433251 6829408 435 270 -60 85 433113 6829250 435
---------------------------------------------------------------------------



The information in this report that relates to gold Exploration Results is based on information compiled by Mr Jeff Ion, who is a Member of the Australasian Institute of Mining and Metallurgy and a member of the Australian Institute of Geoscientists and is employed by Crescent. Mr Ion has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and a Qualified Person under "Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects". He consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.


To view the images accompanying this press release, please click on the following link:


In accordance with the requirements of Canadian National Instrument 43-101 further information on the geology and mineralising setting can be found within the "Independent Technical Report on the Laverton Gold Project Western Australia" which is available on SEDAR (
>www.sedar.com or on the Company's website at >www.crescentgold.com
ABN 49 087 360 996





FOR FURTHER INFORMATION PLEASE CONTACT: Mark Tory
Crescent Gold Limited - In Australia:
Managing Director
+61 8 6380 7100
+61 8 6380 7199 (FAX)
ORRenee Brickner
Crescent Gold Limited - In Canada:
+1 604 802 6806
[email protected]
http://www.crescentgold.com/">www.crescentgold.com

Share
New Message
Please login to post a reply