Crusader Resources Limited - Juruena Drilling Update
31.05.2016 | ABN Newswire
Perth - Brazil-focused gold development company Crusader Resources (ASX:CAS) is pleased to report drilling at its wholly-owned Juruena project in Brazil is progressing well with approximately 1,500m (18 holes) of the planned 6,000m program now complete.<Crusader expects analytical results for the first batch of holes to be available in mid-late June.
The resource-infill and expansion program comprises a minimum of 50 holes for approximately 6,000m over a period of up to 90 days. The Company expects to convert a high percentage of the current Inferred resources at Dona Maria and Querosene to the Indicated category as well as seek to expand the size of the overall gold resources at Juruena.
The drill program is initially targeting the Querosene and Dona Maria prospects, which are both open at depth and along strike. Also planned are initial holes at several new targets, including Tomate, Mauro and Uiliam.
The Juruena Gold Project is located in the highly prospective Juruena-Alta Floresta Gold Belt, which stretches east-west for >400km and has historically produced more than 7Moz of gold from 40 known gold deposits.
The Juruena Project has been worked extensively by artisanal miners (garimpeiros) since the 1980s, producing ~500koz in that time. Historically there is a database of more than 30,000 meters of drilling and extensive geological data.
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About Crusader Resources Limited:
Crusader Resources Ltd. (ASX:CAS) (Crusader) is a minerals company focussed on the identification, acquisition, development and operation of projects in Brazil. Crusader believes that Brazil is a vastly underexplored country with high potential for the discovery of world class mineral deposits. The company has already acquired a diverse portfolio of projects including gold, iron ore, tin, tungsten and uranium and continues to utilise its strong networks in Brazil to identify new opportunities.
Crusader is characterised by a tight corporate structure and features an experienced board of directors who are strongly focussed on the success of the company.
Contact:
Crusader Resources Ltd.
Mr. Rob Smakman Managing Director
Brazil Office (Brazil): +55-31-2515-0740
Email: rob@crusaderdobrasil.com
Mr. Paul Stephen Executive Director
Australia Office (Aus): +61-8-9320-7500
Email: paul@crusaderresources.com
Mr Colin Jacoby
Professional Public Relations
Tel: +61-8-9388-0944
Email: colin.jacoby@ppr.com.au