Mr. Don Halliday reports
CRESCENT RESOURCES STARTS DRILLING PROGRAM AT THE UNCLE SAM GOLD PROJECT, ALASKA
Crescent Resources Corp. and Millrock Resources Inc.'s initial diamond drill program is now under way at the Uncle Sam gold project in the Tintina gold belt, Alaska. The project is located 110 kilometres southeast of Fairbanks, Alaska. This program will consist of approximately 2,100 metres of large-diameter (HQ-sized) diamond drilling that will initially focus on two highly prospective gold targets, the Lone Tree and Wolf prospects. Crescent Resources is financing the program and Millrock Resources is the operator.
Lone Tree prospect
Drilling will target a strong gold-in-soil anomaly that measures approximately 4,000 metres in length and up to 1,000 metres wide. Previous drilling by other operators has returned encouraging results, such as drill holes USC-011, 19.22 metres averaging 2.03 grams per tonne gold, and USC-013, six metres averaging 1.79 grams per tonne gold and 14 metres averaging 1.65 grams per tonne gold. Management believes this area has not been fully or properly tested and will focus on expanding the area of gold mineralization and testing for extension at depth. Crescent Resources is financing the drill program and Millrock Resources is the operator of the program.
Wolf prospect
Drilling will target another very strong gold-in-soil anomaly measuring over 2,000 metres in length and 1,000 metres in width that has returned encouraging results from previous operators, such as drill hole USRC-22, 15.54 metres averaging 4.45 grams per tonne gold, and USR-055, 13.72 metres averaging 1.34 grams per tonne gold. This area has not been fully tested and the drill program will focus on confirming previous results, expanding the area of known mineralization and testing for extension at depth.
The drill intersections reported for the Lone Tree and Wolf prospects are from prior project operators. The company cautions that the intersections have not been independently verified and it is not known if the reported intervals represent true widths. The planned drilling program is in part designed to determine and establish the structural orientation of the mineralized zones with greater certainty.
The Uncle Sam gold property
Crescent executed a definitive agreement with Millrock Resources on Dec. 15, 2010, whereby Crescent can earn a 100-per-cent interest in Millrock's rights to the property which is located 110 kilometres southeast of the city of Fairbanks. The project is an intrusion-related gold target hosted in a similar age of intrusive rocks to those which host the large Pogo gold mine approximately 60 kilometres to the east of Uncle Sam. A comprehensive exploration data package provided to Millrock by previous operators indicates that there are extensive anomalous areas defined by surface gold geochemistry and numerous significant drill intercepts that indicate strong potential for a large new gold discovery.
We seek Safe Harbor.