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Crest Minerals finds gold with peak grade of 23.5 grams per tonne at Majestic North

Published: 18:00 01 Jul 2013 AEST

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Crest Minerals (ASX: CTT) has discovered high-grade gold in a 58-hole air-core drilling program in the Western Supergene of the company's Majestic North Gold Project, which is located in Western Australia's Eastern Goldfields.

Highlights include: 1 metre at 23.5g/t gold from 25 metres; 1 metre at 7.53g/t gold from 36 metres; and 1 metre at 6.61g/t gold from 22 metres.

Of the 58 holes, 5 holes returned assays of greater than 5g/t gold, while 11 drill holes returned assays above 3g/t gold.

Crest said that intrusive basement rocks encountered central to gold mineralisation on six of nine traverses, providing strong indication the anomaly may sit above an intrusive-related gold system of some significance.

The results confirm and extend Crest’s exploration target at Majestic North in terms of size and grade, creating a zone of supergene mineralisation 1100 metres in strike and up to 240 metres wide (at >1.0 g/t gold) in two main gold enriched layers, which is open to the north.

The company will focus now on discovering the source of primary mineralisation of this potentially mineable regolith gold mineralisation.

This will include wide-diameter reverse circulation drilling of an exploration target in the Western Supergene zones in the transported and upper transported materials, with drilling to test for presence of the primary gold source.

 

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