Crusader extends gold mineralisation

THE DRILL SERGEANT: Drilling at the 100% owned Borborema gold project of Brazil-focused Crusader Resources has continued to return pleasing results for the company.

“We are really pleased to report the results today which continue to build the picture of a major gold project at Borborema,” Crusader resources managing director Rob Smakman said in the company’s announcement to the ASX.

“These results will help to upgrade the classification as well as add to the current 1.86 million ounce mineral resource.

“Encouragement at depth in the higher-grade central zone and  also deeper in the northern and southern zones is giving our technical team confidence these results will help Crusader deliver a further resource update later in 2011.”

The company has reported results from 26 RC holes and 28 diamond holes, which have been carried out on target areas that included several deeper holes below the southern and northern extensions of the Borborema project area.

The company said it had been encouraged by results received from the southern zone.

These included results achieved adjacent to the central zone including:

– 10 metres at 8.66 grams per tonne gold from 151m; and

– 14m at 2.19 g/t gold from 185m.

In the northern zone, better results included:

– 11m at 1.54 g/t gold from 92m; and

– 4m at 1.92 g/t Au from 90m.

Crusader said the central zone continued to return consistently broad mineralised results and remains the company’s preferred target area.

Results from the central zone include:

– 6m at 7.83 g/t gold from 146m;

– 29m at 2.06 g/t gold from 157m; and

– 9m at 3.52 g/t gold from 66m.

The drilling campaign is continuing with three diamond rigs drilling targeting down dip extensions in the higher-grade central zone.

Crusader said this program will be the last of the holes to be included in the resource update which is due in the second half of 2011.

The company said it is also continuing on a Pre-feasibility study, with results also expected in coming months.