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Message: News Release
Feb. 22, 2012, 9:00 a.m. EST
AurCrest Gold Inc. Announces Initial Assay Results From Richardson Lake
Feb 22, 2012 (ACCESSWIRE-TNW via COMTEX) -- TORONTO, ONTARIO - (February 22, 2012) - AurCrest Gold Inc. ("AurCrest" or the "Company") /quotes/zigman/3019811 CA:AGO +17.24% is pleased to announce the return of initial assays of diamond drill core samples from its winter 2011/2012 diamond drilling program of its Richardson Lake Property. The property is part of AurCrest's 100% owned East Red Lake land package made up of 27,960 acres of unpatented claims located 110 km east northeast of Red Lake, Ontario. To-date this winter, five NQ holes have been drilled for a total of 802 metres. Preliminary assay results report the intersection of multiple Au bearing zones in Hole RL-12-03 which was drilled south from north of a trenched gold occurrence sampled during the summer with previously reported (July 12, 2011) assays of up to 3.96 g/t Au. The drill site was situated 250 metres west of the Richardson Lake Discovery Zone. The hole tested an IP high chargeability anomaly intersecting three metres of 3.89 g/t Au, including 0.5 metres at 7.88 g/t, approximately 40 metres directly beneath the occurrence. Further down, hole RL-12-03 encountered a new zone beneath Richardson Lake grading 1.34 g/t Au over 9.5 metres hosted in highly altered arsenopyrite-pyrite bearing magnetic rocks. Drilling results to-date are summarized as follows:
----------------------------------------------------------------------------
|Hole # |Coordinates|Orientation|Interval (m) |Intersect(m)|Geochemical|
| |NAD83 UTM |AAZ & |Downhole |Downhole |Analyses |
| | |dip (deg) | | | |
|--------------------------------------------------------------------------|
|RL-11-01|544651E |000 / -45 |- -- |No |
| |5706098N | | | |significant|
| | | | | |results |
|--------------------------------------------------------------------------|
|RL-12-01|545058E |180 / -45 |137-140 |3 |0.55 g/t |
| | | | | |Au |
| |5706140N | | | | |
|--------------------------------------------------------------------------|
|RL-12-02|545058E |180 / -60 |- -- |No |
| |5706140N | | | |significant|
| | | | | |results |
|--------------------------------------------------------------------------|
|RL-12-03|544950E |180 / -45 |47-57 A A |10 A A |1.40 g/t |
| |5706065N | |A |A A |Au |
| | | |A A |A A A |A |
| | | |A A A A |A |A A |
| | | |A-incl. |-3 A A |A A A |
| | | |54-57 |A A |A A A |
| | | |A A |A A |A |
| | | |A |A A-0.5 |A |
| | | |A A-incl. |A A |-3.96 g/t |
| | | |55-55.5 |A A A |Au |
| | | |111.5-121 |A |A A |
| | | |A A A |A A A |A A A |
| | | |A-incl.111.5-114|A A A |A |
| | | |A-incl.119-121 |A9.5 |A |
| | | | |A A A |A-7.88 |
| | | | |A |g/t |
| | | | |A A |Au |
| | | | |A-2.5 A |A A |
| | | | |A A |A A A |
| | | | |A A A |A A A |
| | | | |-3.0 |A |
| | | | | |A1.34 |
| | | | | |g/t |
| | | | | |Au A A |
| | | | | |A |
| | | | | |A |
| | | | | |A A |
| | | | | |A A |
| | | | | |-2.80 g/t |
| | | | | |Au |
| | | | | |A A |
| | | | | |A |
| | | | | |A A A |
| | | | | |A |
| | | | | |A |
| | | | | |A-1.82 |
| | | | | |g/t |
| | | | | |Au |
|--------------------------------------------------------------------------|
|RL-12-04|545050E |180 / -45 |- -- |Results |
| |5706090N | | | |pending |
----------------------------------------------------------------------------
The results in Hole RL-12-03 support the presence of open zones of gold bearing mineralization trending to the west from the Discovery Zone, rather than to the south as historically believed, but are particularly exciting because the lower intersection indicates the presence of a previously untested E-W zone under Richardson Lake trending parallel to the main one.
During the drill program, numerous arsenopyrite-pyrite bearing magnetic subcrop and boulders along the shore of Richardson Lake were uncovered and sampled taking advantage of the low winter lake water levels and lack of snow in December. The samples persistently returned anomalous gold values ranging from 0.21 to 1.11 g/t Au along a strike length of 500 metres which remains open to the west. The E-W trend of the Au bearing surface samples and gold intersection in Hole RL-12-03 partially follow along the length of a 1.5 km long and 150 metre wide high magnetic anomaly outlined in an airborne geophysical survey previously completed by the company in 2002.
This program has generated exciting results for follow-up exploration and the property continues to exhibit geologic characteristics similar to other major deposits along the Red Lake-Pickle Lake gold trend. With both the historic Argosy gold mine and the recent Springpole Lake gold discovery bordering the property, we are encouraged by these results and exploration is continuing with the purpose of follow-up diamond drill testing along the north shore of Richardson Lake.
The samples were gathered as NQ core lengths of 0.5 to 1.0 metres with recoveries of >98%. The core was split in half using a diamond saw, sealed in secure packages, and shipped by bonded carrier to Activation Laboratories in Thunder Bay, Ontario for preparation and analysis. The prepared sample pulps were then analyzed by Fire Assay for Au. A duplicate unknown to the laboratory was submitted per batch of ten 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 QA/QC protocols.
Trevor Boyd, P.Geo., a qualified person as defined by National Instrument 43-101 ("NI 43-101"), Vice President of Exploration, supervised the preparation of the technical information contained in this press release in compliance with NI 43-101.
Neither 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.
Copyright 2012 ACCESSWIRE-TNW
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