Australia-based specialised minerals producer Crusader Resources has initiated a major diamond drilling program at its 100% owned high-grade Juruena Gold Project after successfully raising A$6.25 million.
Crusader said the 6,000 metre drilling program – to be conducted by drill contractors GRK Brazil – will initially target Querosene and Dona Maria prospects before moving on to investigate several new targets, including Tomate, Mauro and Uiliam.
According to Managing director Rob Smakman, the resource-infill and expansion program will comprise a minimum of 50 holes over a period of up to 90 days.
He said the company expects to covert a high percentage of the current Inferred resources at Dona Maria and Querosene to the Indicated category as well as seek to expand the size of the overall gold resources at Juruena.
“Our recent successful capital raising allows Crusader to get back on the ground and continue on from previous high-grade results at both the Querosene and Dona Maria prospects,” commented Mr Smakman.
“Our aim is to convert resources from Inferred to Indicated as well as expand the size of the resource at these prospects. I look forward to updating shareholders over the next few months as the results from this drilling program become available.”
The Juruena Project is located in Central Brazil on the southern fringe of the Amazon Basin. Situated on the western end of the prospective Juruena-Alta Floresta gold belt, Juruena has been explored extensively by artisanal miners since the 1980’s, producing an estimated 500koz of gold.
