AurCrest Gold Inc. (the "Company" or "AurCrest") (TSX-V: AGO) is pleased to announce that it has made a new discovery on the high potential Richardson Lake gold property. Drill hole RL-12-07, the western-most hole ever drilled on the property, has encountered a wide gold bearing zone with elevated grades over shorter widths. Gold was detected over 15 metres (49 feet) with a grade of 1.83 grams per tonne (g/t) (0.058 ounces/ton (oz/t)), including 9 metres (29.5') of 2.95 g/t (0.095 oz/t), including 4 metres (13.1') of 6.0 g/t (0.19 oz/t), including 3 metres (9.8') of 7.4 g/t (0.24 oz/t). The highest individual sample within the newly named "South-Side zone" ran 1 metre (3.21') of 11.1 g/t (0.34 oz/t) gold. Gold mineralization is associated with a pyrite-quartz-calcite vein zone in sheared Archean-aged metasedimentary host rocks.
AurCrest flew in an extra 100 metres of drill rod to test the south-side of the Richardson Lake airborne Magnetic anomaly. After discussions with consultants the Company made the conscious decision to pursue this approach with the last hole. If successful, this would open up for exploration a potential nose fold structure and axis fault within the magnetic anomaly, providing a significant prospective gold target for future drilling. The centre of the target, the nose fold, is situated approximately 200 metres west of the South-Side zone. The Magnetic high/low contact on the South-Side zone indicates a triple junction of structures which the Company will explore this spring and summer. (This map will be available on the Company website, under the Richardson Lake section www.aurcrestgold.com.) This is the first hole to ever test this area of the property and offers a significant area for future exploration.
AurCrest also reports that a new surface exposure of gold-bearing quartz-arsenopyrite veins has been discovered on the northern edge of the Magnetic anomaly. Access to dense and difficult terrain is now relatively easy due to the extensive fires which burned off ground cover last summer and with help from the cleansing snow and spring melt exposed the outcrop. High grades recovered from three surface hand samples include 14.3 g/t, 12 g/t and 4.74 g/t gold. These grades are all significantly higher than other hand samples taken from the north-east side of the property where previous work has been focused. The new South-Side zone, intersected by hole RL-12-07, is located south and west of this outcrop. (Pictures of the outcrop are on the Company website and the new samples are marked on the magnetic gradient map.)
AurCrest is planning a spring/summer field program to follow-up on this success from the winter exploration. Field crews report that forest fires that swept through the region last summer have made prospecting in difficult areas now easily accessible. The Company intends to take advantage of this once in a generation event and send prospecting teams to cover the ground from our Richardson Lake discovery to the Mink Lake area 10 km to the west. AurCrest will carry out ground based and bore-hole geophysical surveys local to the newly discovered outcrop and hole RL-12-07. There is currently a drill on site and follow-up drilling of the new discovery is of the highest priority.
Assays from hole RL-12-07, oriented at 210* with a 45* dip, returned a 15 metre zone as follows:
Hole From (m) To (m) Width (m) Au g/t
RL 12-07 354 m 369 m 15 1.83 g/t
Including 359 m 368 m 9 2.95 g/t
Including 361 m 365 m 4 6.00 g/t
Including 361 m 364 m 3 7.40 g/t
Including 361 m 362 m 1 11.10 g/t
The Richardson Lake property is located 10 km north of Gold Canyon's Springpole Lake discovery and 110 km east north east of Red Lake Ontario.
The samples were gathered as NQ core lengths of 0.5 to one metre, with recoveries of over 98 per cent. The core was split in half using a diamond saw, sealed in secure packages, and shipped by bonded carrier to Activation Laboratories in Red Lake, Ont., for preparation and analysis. The prepared sample pulps were then analyzed by fire assay for gold. A duplicate unknown to the laboratory was submitted per batch of 10 samples, and a polymetallic standard and a blank, unknown to the laboratory, were included with each batch of 40 samples. Activation Laboratories is an ISO 9002 facility and fulfills standard quality assurance/quality control protocols.
Trevor Boyd, PGeo, vice-president of exploration, a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information contained in this press release in compliance with National Instrument 43-101.
FOR FURTHER INFORMATION PLEASE CONTACT:
AurCrest Gold Inc.
President and C.E.O.
(416) 601-1450 (FAX)
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Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
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