TORONTO, ON / ACCESSWIRE / March 29, 2021 / AurCrest Gold Inc. (the "Company" or "AurCrest") (TSXV:AGO) is pleased to announce that the Company has received permitting for the initial phase of the Ranger Lake drill project and is mobilizing equipment to the Ranger Lake Gold Property.
Phase I drilling is designed to test several areas that are coincident with overlapping geologic inference, AI-target modeling, and SGH(soil gas hydrocarbon) results. "We have three technologically independent exploration models all pointing to one area." said Amber McIntosh, Consulting Economic Geologist. "That is rare in the industry."
A preliminary 600 meter drill program will focus on three drill holes to delineate a potential greenfield gold anomaly within the municipal boundary of Red Lake, Ontario, approximately 10 km east of Evolution Gold Mines Ltd.s' Campbell Mill Complex.
"With the recent closing of our flow-through financing, AurCrest is well-capitalized to undertake our preliminary Ranger Lake Gold Property drill program. As announced previously, our Team has identified several high-priority exploration projects and is eager to test the guidance of our Windfall AI and Activation Laboratories soil SGH interpretations." stated Christopher Angeconeb, President & CEO. "The positive demonstration of leading-edge exploration technologies at our Ranger Lake Gold Property has the opportunity to add a new driver for the economic landscape of the local First Nations communities, local municipalities, and ultimately the people that make this area their home."
The Company closed a brokered flow-through placement (see press release date March 24, 2021) for $999,999.90CDN to fund this drill program, as well as other near-term exploration on the Ranger Lake Gold Property.
ABOUT AURCREST GOLD INC.
AurCrest is a mineral exploration company focused on the acquisition, exploration, and development of gold properties. AurCrest has a portfolio of properties in Ontario, which include the Richardson Lake, Ranger Lake and Bridget Lake gold properties.
FOR FURTHER INFORMATION PLEASE CONTACT:
AurCrest Gold Inc.
Christopher Angeconeb
President and C.E.O
(807) 737-5353
christopherangeconeb@gmail.com
Ian Brodie-Brown
Director of Business Development
(416) 844-9969
ianbrodiebrown@gmail.com
Forward Looking Statement:
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. AurCrest undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
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.
SOURCE: AurCrest Gold Inc.
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