Crescent Resources Announces Final Results From 2009 Field Season
Final analytical results have been received for the 2009 season and include new gold in soil anomalies and one rock sample from the DC claim block, anomalous copper and gold values in rocks from the QL claim block, and also anomalous silver-lead-zinc values from rock samples in the BG claim block. The proximity, geologic setting, and geochemical signature of gold mineralization in the DC block are considered prospective and analogous to mineralization identified on the adjacent Evolving Gold property. Anomalous copper and gold values from the QL claim block and the silver and base metals from the BG claim block suggest a zonation of different styles of mineralization from porphyry to epithermal on the Crescent properties.
Michael Hopley, President and CEO of Crescent says; "These new results together with the results we announced in January are very encouraging. Gold and trace element values are at levels that are considered by management of Crescent to be significant in this geological setting and are consistent with those reported to overlie Evolving Gold's Rattlesnake Hills adjacent gold discovery and other large alkalic gold deposits in the Rocky Mountains. This significance is particularly true given the proximity and geological similarity to Evolving Gold's property. The results certainly justify an aggressive program of work this spring".
DC Claim Block
The DC claims, which cover approximately 840 acres, encompass all or part of four phonolite stocks that are located approximately two to three kilometers north and northwest of Evolving Gold's North Stock discovery (see maps #1 and #2 below). These types of stocks are considered to be the centre of gold mineralization in this environment. The four stocks within the DC claims are surrounded by considerable areas of shallow cover material that obscures the margins of the stocks as well as any associated structures and possibly diatremes.
Forty-three soil samples collected along two reconnaissance lines at 50 foot intervals spanning the northeastern basin identified two zones with soil sample values of 27 ppb and 43 ppb (parts per billion) gold. One of these intervals is also strongly enriched in potassium with values up to 2.32%K. Mineralization indicated by these two anomalies is in addition to results of reconnaissance rock samples taken in the same area which showed gold values of 452, 119, 42, 34, and 32 ppb (four of these values were previously reported in NR 2010-02 dated January 28, 2010). Surface gold values of buried mineralization are usually a few tens to a few hundreds of ppb gold in discoveries such as made by Evolving Gold. Most of these anomalous results are from a northwest trending corridor approximately 2,000 meters long and 1,000 meters wide. Overall, these results, particularly because they are from an area with very poor outcrop, demonstrate the wide spread nature of anomalous gold values adjacent to the Evolving Gold's "North Stock" discovery area.
QL Claim Block
The QL claims cover approximately 2,000 acres and encompass an area where two regional faults cross, the northeast trending UT Creek Fault and the East trending North Granite Mountain Fault. A quartz latite stock is intruded along the UT Creek Fault. Rock samples were collected from iron-oxidized, fractured metabasalts and graywackes lying adjacent to UT Creek including the western edge of the quartz latite stock. Forty-six reconnaissance rock samples were collected from the claim block; one sample from easterly trending fault contained 739 ppb gold and three samples collected adjacent to the quartz-latite stock contained gold values of 234, 56, and 28 ppb gold. In addition anomalous copper values were widespread; 19 samples contained greater than 60 ppm including seven samples ranging from 248 ppm to 776 ppm, three samples ranging from 1,225 ppm to 3,470 ppm and three more containing values from 14,550 ppm to 33,370 ppm copper. Most of these anomalous samples are located in a northeast trending corridor approximately 1,000 meters long. (See map #2 below). These anomalous copper values are from Eocene -- age structures associated with sub-alkaline quartz latite stocks and appear to be not the same as mineralization described by Evolving Gold. The significance of these values is being evaluated but may suggest fracture controlled mineralization at a different geological level to the mineralization discovered on the DC claim block and Evolving Gold's property.
BG Claim Block
The BG claims cover an area of approximately 1,320 acres encompassing a large quartz latite exposure consisting of multiple stocks and peripheral lithic flows and tuffs. Twenty-nine reconnaissance rock samples were collected. Two samples contained 25 ppb and 30 ppb gold, four samples contained values between 0.5 and 1.3 ppm silver, four samples contained 2.8 to 7.7 ppm silver, and three more samples contained 16.3 to 58.3 ppm silver. Five of these samples with anomalous silver values also were enriched in lead (87 ppm to 507 ppm) and zinc (192 ppm to 909 ppm). (See map #3 below). These anomalous silver values are from Eocene -- age structures associated with sub-alkaline quartz latite stocks and appear not to be the same as mineralization described by Evolving Gold. Silver and base metal mineralization on the BG claims is tentatively considered to overlie possible porphyry targets at depth.
2010 EXPLORATION PROGRAM
Subject to financing, the planned 2010 exploration program will consist of follow-up geologic surveys, including detailed mapping and rock sampling, focused soil sample surveys and CSAMT geophysics surveys. CSAMT surveys have been a very successful tool for targeting drill holes for Evolving Gold. Subject to funding and the findings of the exploration program, drilling is planned for the summer of 2010.
GEOLOGY
Evolving Gold's discovery of both high-grade gold zones surrounded by larger lower grade gold "halo" zones in alkaline sub-volcanic intrusive rocks with associated widespread carbonate and potassic alteration suggests a strong geological similarity between the Rattlesnake Hills gold system and several other past gold producing deposits that are part of the Rocky Mountain Alkaline Gold District. These include the Cripple Creek gold camp in Colorado which has produced approximately 27 million of ounces of gold from both high grade underground-mined vein systems and broad low-grade open pit deposits; the Zortman-Landusky (~2-million ounces of gold) and Golden Sunlight gold mines in Montana (~1.5-million ounces gold) and the Ortiz gold district in New Mexico (~1.5 million ounces gold).
CRESCENT RESOURCES:
Crescent is a junior exploration company currently focused on exploring and developing the Rattlesnake Hills North Project in Wyoming. The Company is managed by an experienced team with several discoveries attributable to the group. Crescent currently has 38.5 million shares outstanding and trades on the TSX.V -- symbol: CRC.
NOTES:
- A Quality Assurance/Quality Control program was part of the reconnaissance and sampling program at Rattlesnake Hills Project. This program includes chain of custody protocols as well as systematic submittals of standards, duplicates and blank samples into the flow of samples.
- Samples were prepared and analyzed by ALS Chemex Laboratories in Vancouver, Canada.
- The results of this work have been reviewed by Michael J. Hopley the Qualified Person for Crescent. Mr. Hopley is also the person responsible for preparation of the technical information contained in this news release and is President and Chief Executive Officer of Crescent.
"Michael Hopley"
President and Chief Executive Officer
For further information contact:
Don Halliday, Executive Vice President
Email: info@crescentresourcescorp.com
Tel: 604-899-1505 (direct)
Greg Davis, VP Business Development
Email: greg@crescentresourcescorp.com
Tel: 604-688-1263 (direct)
www.crescentresourcescorp.com
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Results Of 2009 Field Work Starts Defining Drill Targets At Rattlesnake Hills Gold Project, Wyoming
Since August 2009, exploration focused on only four of ten claim blocks the DC, SR, QL and BG claims. Reconnaissance programs over the four blocks consisted of preliminary geologic evaluations (with 164 rock samples being taken), stream sediment and limited soil surveys (92 and 198 samples taken), and two ground magnetic surveys. Crescent has received complete results for the DC and SR claim blocks with results still pending for the QL and BG claims.
Phase 1 reconnaissance exploration confirmed the presence of elevated gold and arsenic values in rock samples and therefore the potential for discovery of alkaline related gold mineralization. Mid- to low-level gold anomalies from rock samples associated with prospective geology (the same or similar rock types, alteration, spatial relationships and structures to those on the nearby Evolving Gold ground,) on the DC and SR claims are considered significant and warrant aggressive follow-up exploration work. Historical work in the area show that low-level gold values from surface rock samples (some as low as 30 to 50 parts per million (ppm), are sometimes an expression of deeper gold mineralization at Rattlesnake Hills. Two prospects in particular warrant significant follow-up in 2010.
RESULTS FROM THE DC CLAIMS
The DC claims cover a northeast trending series of four phonolite stocks that are located along the northwest side of a circular grouping of phonolites which includes the North Stock phonolite and adjacent Antelope Basin area, which are the locations of Evolving Gold's discovery only two to three kilometers to the southeast. (See Map #2 below) The geology and gold mineralization prospectivity at the DC claim area is considered similar to the North Stock-Antelope Basin area. This has been reinforced by results of Crescent's 2009 exploration at the DC claims. Specifically, four samples containing gold anomalies of 32, 34, 42, and 452 parts per billion (ppb) were collected from structural/breccia zones along the margins of 3 phonolites and are considered significant. These four samples also contain significantly anomalous arsenic (As) values of 21, 58, 102, and 124 ppm. Arsenic is considered to be an important pathfinder element in this geological environment.
RESULTS FROM THE SR CLAIMS
The SR claims are located on a circular complex of quartz-latite stocks and flows. The complex is comprised of two main stocks which appear to be made up of multiple circular intrusives. In the southern portion of the claim block quartz-latite intrusive rocks are strongly carbonate altered with some zones containing brown carbonate veining, which are characteristic of host rocks in alkaline gold deposits. Several northeast and east trending structures cut through the complex. Three carbonate altered samples collected from a fault zone at the southeast side of the more southerly stock contained 35, 36, and 48 ppb gold. Additional potentially mineralized structures are indicated from soil sample lines containing anomalous arsenic values.
2010 EXPLORATION PROGRAM
Subject to financing, the planned 2010 exploration program will consist of follow-up geologic surveys, including detailed mapping and rock sampling, focused soil sample surveys and CSAMT geophysics surveys. Subject to the findings of the exploration program, drilling is planned for the summer of 2010.
GEOLOGY
Evolving Gold's discovery of both high-grade gold zones surrounded by larger lower grade gold "halo" zones in alkaline sub-volcanic intrusive rocks with associated widespread carbonate and potassic alteration suggest a strong geological similarity between the Rattlesnake Hills gold system and several other past gold producing deposits that are part of the Rocky Mountain Alkaline Gold District. These include the Cripple Creek gold camp in Colorado which has produced approximatley27 million of ounces of gold from both high grade underground-mined vein systems and broad low-grade open pit deposits; the Zortman-Landusky (~2-million ounces of gold) and Golden Sunlight gold mines in Montana (~1.5-million ounces gold) and the Ortiz gold district in New Mexico (~1.5 million ounces gold).
Crescent Resources:
Crescent is a junior exploration company currently focused on exploring and developing the Rattlesnake Hills North Project in Wyoming. The Company is managed by an experienced team with several discoveries attributable to the group. Crescent currently has 38.5 million shares outstanding and trades on the TSX.V -- symbol: CRC.
CRESCENT RESOURCES CORP.
"Michael Hopley"
President and Chief Executive Officer
For further information contact:
Don Halliday, Executive Vice President
Email: info@crescentresourcescorp.com
Tel: 604-899-1505 (direct)
www.crescentresourcescorp.com
Greg Davis, VP Business Development
Email: greg@crescentresourcescorp.com
Tel: 604-688-1263 (direct)
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Crescent Resources Grants Options
CRESCENT RESOURCES CORP.
"Michael Hopley"
President and Chief Executive Officer
For further information contact:
Don Halliday, Executive Vice President
Email: info@crescentresourcescorp.com
Tel: 604-899-1505 (direct)
www.crescentresourcescorp.com
Greg Davis, VP Business Development
Email: greg@crescentresourcescorp.com
Tel: 604-688-1263 (direct)
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Crescent Resources Provides Update On Exploration And Staking Program At The Rattlesnake Hills Gold Properties, Wyoming
Staking
Crescent has recently staked an additional 257 claims that cover approximately 5,140 acres and now holds approximately 9,180 acres in the Rattlesnake Hills area near or adjacent to Evolving Gold's significant new gold discovery. The new claims targeted areas where gold mineralization would be expected to occur based on Evolving Gold's exploration results and the findings from Crescent's recent ground exploration work as well as the geology of other known similar gold occurrences. Crescent now holds mineral rights in 13 separate blocks covering 20 Tertiary-age intrusives mapped in the Eocene - age Rattlesnake Hills volcanic field.
Exploration Work
Work by Crescent to date has included reconnaissance geology and rock sampling and stream sediment, soil and ground magnetic surveys. The program has been successful in identifying several targets. Full results from all field work will be released when the program is complete and all assays have been received by Crescent.
Crescent Resources:
Crescent is a junior exploration company currently focused on exploring and developing the Rattlesnake Hills North Project in Wyoming. The Company is managed by an experienced team with several discoveries attributable to the group. Crescent currently has 38.5 million shares outstanding and trades on the TSX.V -- symbol: CRC.
CRESCENT RESOURCES CORP.
"Michael Hopley"
President and Chief Executive Officer
For further information contact:
Don Halliday, Executive Vice President
Email:
Tel: 604-899-1505 (direct)
www.crescentresourcescorp.com
Greg Davis, VP Business Development
Email:
Tel: 604-688-1263 (direct)
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Crescent Resources Closes Tranche 2 Of Private Placement
The first tranche of 3,600,000 Units for proceeds of $360,000 closed on October 15, 2009 and the second tranche of 1,400,000 Units for proceeds of $140,000 closed October 21, 2009. Securities issued October 15, 2009 are subject to a four month hold period until February 16, 2010 and securities issued October 21, 2009 are subject to a four month hold period until February 22, 2009.
Crescent is a junior exploration company currently focused on exploring the Rattlesnake Hills North Project in Wyoming. The Company is managed by an experienced team with several discoveries attributable to the group. Crescent trades on the TSX.V -- symbol: CRC.
CRESCENT RESOURCES CORP.
"Michael Hopley"
President and Chief Executive Officer
For further information contact:
Don Halliday, Executive Vice President
Email: info@crescentresourcescorp.com
Tel: 604-899-1505 (direct)
www.crescentresourcescorp.com
Greg Davis, VP Business Development
Email: greg@crescentresourcescorp.com
Tel: 604-688-1263 (direct)
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."