Crescent Gold - Copper
Perth, Aug 7, 2006 AEST (ABN Newswire) - Crescent Gold Limited (ASX: CRE) has commenced the evaluation of a six kilometre long copper anomaly with reported values of up to 7% copper, on its Laverton tenements in Western Australia.
The Company stressed today its first pass assessment of the copper anomaly would not be at the expense of the start-up to gold production at Laverton scheduled for late this year.
Drill results just received include 9m at 0.7% copper and 0.7g/t gold, and 20m at 0.4% copper and 0.3g/t gold.
"This is a large copper-gold anomaly and it lies in part, directly beneath the Laverton gold oxide zone already scheduled for mining," Crescent Gold's Managing Director, Mr Andrew Haythorpe, said today.
"Our primary focus has been on drilling and reserve upgrade of our gold resource at Laverton in preparation for mining, as Laverton gold will be our primary revenue generator in the foreseeable future," Mr Haythorpe said.
"However, we see the assessment of the copper potential within our gold tenements as complimentary at this stage to our mainstream gold campaign.
"The anomaly has visible copper minerals at surface and previous Reverse Circulation drilling has intersected a copper rich zone with reported values of up to 7%.
"Drilling has indicated that the copper gold zone extends over a minimum strike length of 1.5 kilometres and to a depth of 300 metres and remains open.
"Given the extent of the soil anomaly and the width and tenor of the intersections, the area has the potential to host a significant copper gold resource.
"To that end, Crescent has now commenced re-assaying selected RC holes which intersected the copper rich zone."
Mr Haythorpe said further drilling and exploration activity is being planned as the bulk of the drilling and technical work for the Laverton Gold project is entering the tidy up stages ahead of grade control drilling and subsequent mining.
"The first pass investigation of the copper gold zone is very encouraging and we need to see just how extensive the zone is," Mr Haythorpe said.
"The Laverton Gold Project is a starting point for Crescent Gold. We are keen to develop additional opportunities for the sustained growth of the Company. This can be achieved while we continue to extend mine life at Laverton," Mr Haythorpe said.
Crescent is the largest landholder in the rich Laverton tectonic zone and its primary Sickle gold ore body will be open-pit mined from the December quarter this year at an initial production rate of 90,000 ounces per annum.
Contact
Kevin Skinner
Senior Consultant
FIELD PUBLIC RELATIONS
231 South Road
MILE END SA 5031
Tel: (08) 8234 9555
Fax: (08) 8234 9566
Mob: 0414 822 631
kevin@fieldpr.com.au
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