Category: Uncategorized
- Published: 29 November -0001
News Release: Intersects High-Grade Gold Mineralization On Its Buckhorn Mtn. Project
Crown Resources Corporation announced today that drilling on its Buckhorn Mtn. Project has intersected significant high-grade gold mineralization. The Buckhorn Mtn. Project (formerly named Crown Jewel) is located in north-central Washington State. The drilling is part of an ongoing infill drill program designed to further support Crown's decision to develop the project as a high-grade, environmentally low-impact underground operation. Highlighting these results were drill holes D02-187 and D02-191 which intersected 15.5 feet grading 2.26 ounces of gold per ton (opt) and 26.5 feet grading 2.28 opt, respectively. Mr. Chris Herald, President and CEO of Crown, stated: "We are excited about these exceptional results that further confirm the high-grade nature and excellent continuity of this deposit. We changed the name of the project to underscore the significant differences between Crown's new underground mining approach and our previous partner's Crown Jewel open pit proposal."
This infill drilling program has been designed to confirm the grade and geometry of mineralization in the important Southwest Zone of the deposit and to provide geotechnical information to support the development of a detailed underground mine plan. In addition to the infill program, selected holes have been located to better define the outer boundaries of economic mineralization in the Southwest Zone. To date 41 holes have been drilled with assay results for the first 18 holes provided below. The remaining 23 holes are currently being processed.
TABLE I: SOUTHWEST ZONE DRILLING RESULTS
Gold Gold
Core Grade Grade
Hole Interval(ft.) Thickness(a) (oz. per Thickness(a) (gr. per
Number From - To (in feet) ton) (in meters) tonne)
------ ------------- ------------ -------- ------------ --------
D02-176 456 - 463 7.0 0.67 2.1 23.0
D02-177 384 - 388.5 4.5 0.37 1.4 12.7
396.5 - 400 3.5 0.16 1.1 5.5
429 - 443 14.0 0.38 4.3 13.0
463 - 466 3.0 0.21 0.9 7.2
D02-183 142.5 - 158 15.5 0.63 4.7 21.6
D02-184 215 - 217 2.0 0.39 0.6 13.4
D02-185 240 - 252 12.0 1.10 3.7 37.7
D02-186 229 - 233 4.0 1.37 1.2 47.0
D02-187 129.5 - 145 15.5 2.26 4.7 77.5
D02-188 132 - 145 13.0 0.32 4.0 11.0
D02-189 110 - 119 9.0 1.36 2.7 46.6
D02-190 121 - 138 17.0 1.10 5.2 37.7
D02-191 100 - 126.5 26.5 2.28 8.1 78.2
D02-192 65 - 82 17.0 0.86 5.2 29.5
D02-193 71 - 107.5 36.5 0.82 11.1 28.1
(a) True thickness of mineralization averages 90% of reported drill
thickness.
A location map for the reported holes and previously reported holes is attached or can be viewed on Crown's website (http://www.crownresources.com/releases/pr49.html. Drill holes D02-179 through D02-182 were drilled on the extreme western margin of the deposit and did not intersect significant mineralization. Drill hole D02-178 encountered technical drilling problems and was not completed. Crown will incorporate these results into a new feasibility study for an underground mining operation. This work will optimize the reserve model, including developing a detailed underground mining plan. Concurrently, progress has also been made on a revised Plan of Operations that focuses on significantly reducing environmental impacts.
Crown is actively engaged in permitting and development of the Buckhorn Mtn. gold project. Crown also owns a 41.2% equity interest in Solitario Resources Corporation. Solitario is actively exploring in Brazil, Peru and Bolivia for gold, silver, zinc and platinum-palladium mineralization. Crown Resources Corporation is traded on the Nasdaq Bulletin Board (OTCBB: CRCE) and Solitario is traded on the Toronto Stock Exchange under the symbol SLR.
Crown Resources
Debbie W. Mino, 800/229-6827
This email address is being protected from spambots. You need JavaScript enabled to view it.
or
Christopher E. Herald (303) 534-1030
http://www.crownresources.com
WEBSITE This email address is being protected from spambots. You need JavaScript enabled to view it.
