(MENAFN - ProactiveInvestors - Australia) Crest Minerals (ASX: CTT) is making solid progress at its flagship Majestic North Project in Western Australia where a follow up aircore drilling program has been completed delivering promising gold intercepts.
The project is located in the prolific Eastern Goldfields near Kalgoorlie, host to numerous gold discoveries including Integra Mining's (ASX: IGR) Majestic and Imperial discoveries immediately south of Crest's tenements.
Highlights from Crest's 5,813 metre, 112 hole program included 11 metres at 1.495g/t gold, including a 2 metre intersection at 6.56g/t, which is significant being hosted in basement rock at the end of the hole.
Demonstrated wide-spread gold anomalism from the two aircore drilling programs, when overlaid over geophysical interpretation and magnetic data, has assisted Crest in planning for a reverse circulation 24-hole drill program.
Successful drilling programs have refined and identified several new gold anomalies over 1 kilometre in length that remain open to the north and south in the central and supergene zones of the Majestic North Project.
Auger results confirm north/south trending anomalism and complement aircore results and magnetic data.
Stage one of the reverse circulation drill program is scheduled to begin in early December, while the second stage is scheduled for early in the new year. In the new program, Crest is targeting "metres of grade".
The focus has been on the southern extension of the supergene on the western side of the company's leases, and the corridors of gold mineralisation in the central part of the lease.
Having now met its farm-in expenditure obligations, Crest will move to 80% ownership of the Majestic North joint venture.
Next Steps
Over the next three months Crest will complete targeted reverse circulation drilling of bedrock to a depth of about 150 metres each hole.
Also, the original western supergene zone will be infilled further and extended to the north in an aircore drilling program planned for February.
The follow up reverse circulation program will be scheduled once results are received for the December drilling program.
