Crusader set to gain on surging gold price
(firmenpresse) - Crusader set to gain on surging gold price
Brazil-focused, Australian-based gold play Crusader Resources is set to rally on the Frankfurt Stock Exchange after Donald Trumps victory in the US election sparked a surge in the price of bullion and a buying frenzy in global gold stocks.
The FRA-listed company is set to benefit from todays win by Trump over rival Hillary Clinton with investors propelled to the safe-haven allure of gold stocks as the price of bullion surged 5%.
Crusader has been hitting its stride over the past six months, recently reporting an oversubscribed A$8.5 million share placement and bonanza-grade gold hits from its Juruena Gold Project in central Brazil.
The wholly-owned Juruena project, located in the recognised mining district of Juruena Alta Floresta gold belt where ~7Moz Au is estimated to have been produced, has been delivering an abundance of high-grade intercepts from its recent 7,722m expansion and in-fill drilling program across multiple prospects.
The Dona Maria prospect is shaping up to be an important zone with lab results retuning high-grade intercepts of 8.25m (at) 23.7 g/t gold from 86.75m and 1.5m (at) 76.69 g/t gold from 78m.
One gold intercept was particularly impressive, with hole MD-09 returning 10m (at) 101g/t gold from 125m including a spectacular 0.4m (at) 2,009 g/t gold from 133m.
We are obviously really excited to get such an extraordinary hit and even more so that it occurs as part of a broad, high-grade intercept, said Crusader Managing Director Rob Smakman.
The central zone at Dona Maria is proving to be the source of some of the best intercepts in the district and indicates a broad, highgrade zone that is continuous and relatively close to surface.
With drilling results from Querosene and Dona Maria, Crusader intends to upgrade sections of the inferred resource to indicated, using the improved numbers in a proposed scoping study for the project.
We are on target to convert a high percentage of the current resource from inferred to indicated at Dona Maria and Querosene, Smakman said.
This resource upgrade will broaden our options to secure finance to progress Juruena into production.
The company has also recently been awarded a mining license for the Querosene prospect, an essential part of the process and demonstrated the Crusader team had a strong relationship with the Department of Mines.
Meanwhile, Crusaders is also focussing on its other Brazilian gold asset; the Borborema Gold Project, a brownfield project located in the Seridó region of north eastern Brazil.
Borborema is the more advanced project with sealed roads, power, water and buildings on site with three granted mining leases covering a total area of 29sq km, including freehold title over the main prospect area. Borboremas measured, indicated and inferred mineral resource estimate comprises 2.43Moz (at) 1.10 g/t gold, open in all directions.
Crusader is currently testing over six tonnes of samples from the Borborema project in Australia as part of an extensive metallurgical testwork program.
This program will seek to confirm the project flowsheet and investigate various potential improvements in the flowsheet and project optimisation. Results will begin to flow during the current quarter and once complete, will form the basis of an updated feasibility into the development of Borborema.
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" alt="I-Minerals retains Small Cap Invest Ltd.Datum: 09.11.2016 - 16:24 Uhr
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