THE BOURSE WHISPERER: Crusader Resources has identified a number of new exploration targets situated within the mineralised system hosting the company’s multi-million ounce Borborema gold project in Brazil.
The targets were identified through a review Crusader conducted of all existing data of the Seridó Belt, which is the regional host of the Borborema project.
Regional geology map after re-interpretation of geophysical data. Source: Company announcement
Crusader said the new targets are located within the same rock units and structural settings as Borborema and appear to be part of the same mineralised system.
The Borborema gold project currently boasts an Indicated and Inferred Mineral Resource estimate of 2.31 million ounces of gold.
One of our highest priorites is expanding our gold resource inventory in the region – our growing tenement portfolio gives us a commanding position within the highly prospective Seridó Belt,” Crusader Resources managing director Rob Smakman said in the company’s announcement to the Australian Securities Exchange.
“The belt could host multiple Borborema-style deposits and our recently completed review of the regional geology has identified some very high quality targets.
“Regional exploration is now underway.”