Business
AurCrest Gold Recieves Permit for Exploration Richardson Lake Gold Discovery
(via Thenewswire.ca) Toronto, Ontario May 22, 2013 - AurCrest Gold Inc. (the "Company" or "...
About this update from Big Tree Carbon Inc
[{"type":"text","content":"AurCrest Gold Recieves Permit for Exploration Richardson Lake Gold Discovery(via Thenewswire.ca)\n\n \nToronto, Ontario May 22, 2013 - AurCrest Gold Inc. (the \"Company\" or \"AurCrest\") (TSX-V: AGO) is pleased to announce that it has received an exploration permit from the Ministry of Northern Development and Mines to further explore the Richardson Lake gold discovery in the Birch-Uchi belt of the Red Lake mining division located between the historic Pickle Lake and Red Lake Gold camps. The new permit is good for 3 years and covers up to 6,000 metres of diamond drilling, airborne and surface geophysics, sampling and mapping. \n\n\n \nIan Brodie-Brown, President & CEO of AurCrest states: \"We are pleased to have completed the permitting stage of our ongoing efforts to explore the new gold-in-iron formation occurance on our Richardson Lake property. This marks the beginning of the second stage of assessing our highly prospective gold discovery. AurCrest has a strong First Nation partnership, 9.9% of the outstanding shares of the company having been purchased by the Lac Seul First Nation. The company has First Nation representation on the Board of Directors and continues ongoing discussions with other key First Nations in the area. We believe strongly in the ownership and direction of our work having strong participation and support by all local peoples. The Richardson Lake discovery is associated with a quartz carbonate shear zone in an iron formation and occurs 150 metres away from an untested nose-fold axis fault feature.\" \n\n\n \nThe previously announced hole RL-12-007 intersected grades of 15 metres of 1.83 g/t, including 9 metres of 2.95 g/t, including 4.0 metres of 6.0 g/t, including 3.0 metres of 7.4 g/t and including 1 metre of 11.1 grams (previously discussed in the AurCrest April 30, 2012 News Release). In conjunction with these results, three high grade surface hand samples included 14.3 g/t, 12 g/t and 4.74 g/t gold along a similar westerly trend to the aforementioned drilling results. \n\n\n \nThis favourable magnetic feature is approximately 1.5 km long and 200 metres wide and it is believed from these preliminary exploration results to represent a significant potential host for gold mineralization. The unsurveyed section of this feature continues for 7 kms to the west beyond the airborne geophysical survey c...