Crusader Resources Publishes High Grade Gold Results at Juruena
Crusader Resources states that the positive drilling results have encouraged Crusader to extend its drilling program at Juruena.
Brazil focused resource exploration and development company Crusader Resources (ASX:CAS) published high-grade gold results from its drilling program at its 100% owned Juruena gold project.
Crusader Resources states that the positive drilling results have encouraged Crusader to extend its drilling program at Juruena. To date 52 holes have been completed to a depth of 5,800m while the company now seeks to drill as low as 7,200m. The data was received from the first 32 holes from the Querosene prospect at Juruena, while results from the Dona Maria prospect is pending. If results remain encouraging the company will likely extend its drilling program to two further targets nearby.
Managing Director Rob Smakman is pleased with the results at Querosene and encouraged by Dona Maria. He commented on the outlook: “It’s also very exciting to drill at both Tomate and Mauro. There are our next best targets at Juruena and successful drilling could allow additional resources to be estimated. We have long believed that Juruena is a district gold play and we feel the best way to demonstrate that concept is to continue expanding the drilled prospects.”
You can view the full drilling results in Crusader’s ASX announcement dated 2 August 2016.
Crusaders flagship project is the Juruena gold project located in Central Brazil. Targeting a high grade, open pit / underground development, drilling is underway to convert existing resources to ‘indicated’ classification.
The Juruena Gold Project (“Juruena”) consists of 21 exploration licenses and applications located in the northwestern part of Mato Grosso state, near its boundaries with Pará and Amazonas states. The project covers 447km2 in a sparsely populated area. The small city of Alta Floresta is located some 250 km east-southeast of the property. Access is via dirt roads or light plane, with the site hosting a gravel airstrip.
The high grade Juruena Project is a near term cash flow opportunity.
Author: Simon Herrmann
Aug 02, 2016
Simon is a financial analyst at independent research firm Wise-owl specialised in small-mid cap growth opportunities and ethical investment opportunities. Simon's aim is to disrupt the cliché approach to investment decision making as he believes that socially and environmentally responsible behaviour is a necessity to long-term wealth creation. Simon has a deep fundamental understanding of the global financial landscape and has compiled 300+ research reports, valuations and corporate appraisals. Simon is commonly featured in major media outlets and his research is published weekly in The Australian.