Crescent Gold Limited
ASX : CRE
TSX : CRA
FRANKFURT : CRE5

Crescent Gold Limited

July 13, 2010 00:01 ET

Crescent Gold Limited: High Grade Drilling Results at Laverton

PERTH, WESTERN AUSTRALIA--(Marketwire - July 13, 2010) - Crescent Gold Limited (TSX:CRA)(ASX:CRE)(FRANKFURT:CRE5) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Crescent Gold Limited, the growing Australian gold miner and resources developer today reported further encouraging results from reverse circulation (RC) drilling at the Company's Craiggiemore, Mary Mac and Mary Mac South gold projects near Laverton in WA.

The current drill programme is aimed at extending the known resources on these project areas.

Since Crescent's previous announcement on 4th May 2010, a further 111 significant intersections have been recorded, including:



-- 26m at 9.6 g/t gold,
-- 4m at 17.3 g/t gold,
-- 17m at 4.3 g/t gold,
-- 5m at 13.1 g/t gold,
-- 4m at 11.7 g/t gold,
-- 10m at 7.3 g/t gold.


(A full table of the significant intercepts greater than 5g/m received in this programme is included below)

Managing Director, Roland Hill, commented "The Laverton Goldfields is a great gold address, and the current programme is yielding consistently good results. The latest round of drilling confirms the regions exploration potential."

"The continued excellent drilling results not only confirm the Craiggiemore and Mary Mac line of lode deposits as near term development projects but highlights the outstanding exploration potential of the Laverton district."

The Craiggiemore / Mary Mac line of lode, located 3km southwest of Laverton and approximately 15kms from Barrick's Granny Smith Mill (BGSM), consists of the Craiggiemore, Mary Mac and Mary Mac South gold deposits on mining lease 38/270, held 100% by Crescent Gold Limited.

Since the start of 2010, a total of 239 RC drill holes for 20,025m have been drilled into the Craiggiemore and West Laverton projects to infill and extend the known mineralisation.

A diamond drill (DDH) programme on the Craiggiemore project has just been completed to test targets at depth and for various structural assessments. Laboratory analysis is pending and will be reported shortly.

Regards

Crescent Gold Limited

Roland Hill, Chairman & Managing Director

Additional information related to the Company is available for review at sedar.com or on the Company's website at www.crescentgold.com.

The tables below list significant results from analyses received to date. Selection criteria were, 0.8g/t gold lower cut-off, minimum down-hole width of 2m and maximum down-hole internal dilution of 2m. The tables list only those intercepts with a gram-metre product greater than or equal to 5 gram-metres.



----------------------------------------------------
MARY MAC
----------------------------------------------------
FROM TO WIDTH GRADE
HOLE No. (m) (m) (m) (g/t Au)
----------------------------------------------------
MMRC006 99 111 12 6.27
----------------------------------------------------
MMRC027 40 51 11 6.15
----------------------------------------------------
MMRC027 52 57 5 13.11
----------------------------------------------------
MMRC009 56 69 13 4.91
----------------------------------------------------
MMRC007 30 48 18 2.68
----------------------------------------------------
MMRC026 97 111 14 2.83
----------------------------------------------------
MMRC029 47 55 8 4.9
----------------------------------------------------
MMRC026 45 56 11 3.03
----------------------------------------------------
MMRC024 9 17 8 3.57
----------------------------------------------------
MMRC013 32 45 13 1.99
----------------------------------------------------
MMRC011 23 26 3 7.8
----------------------------------------------------
MMRC037 74 84 10 2.05
----------------------------------------------------
MMRC029 80 85 5 3.44
----------------------------------------------------
MMRC040 30 33 3 5.72
----------------------------------------------------
MMRC031 55 60 5 3.22
----------------------------------------------------
MMRC007 12 21 9 1.62
----------------------------------------------------
MMRC011 30 34 4 3.5
----------------------------------------------------
MMRC021 26 32 6 2.18
----------------------------------------------------
MMRC016 92 95 3 4.35
----------------------------------------------------
MMRC005 26 30 4 3.17
----------------------------------------------------
MMRC002 16 21 5 2.37
----------------------------------------------------
MMRC010 63 67 4 2.91
----------------------------------------------------
MMRC001 104 109 5 2.1
----------------------------------------------------
MMRC002 47 51 4 2.62
----------------------------------------------------
MMRC005 17 21 4 2.56
----------------------------------------------------

----------------------------------------------------
MARY MAC SOUTH
----------------------------------------------------
MMSRC135 33 43 10 3.89
----------------------------------------------------
MMSRC134 63 76 13 2.91
----------------------------------------------------
MMSRC147 60 76 16 2.31
----------------------------------------------------
MMSRC136 35 44 9 3.41
----------------------------------------------------
MMSRC156 12 24 12 2.24
----------------------------------------------------
MMSRC158 68 76 8 3.24
----------------------------------------------------
MMSRC135 44 55 11 2.1
----------------------------------------------------
MMSRC157 21 26 5 4.27
----------------------------------------------------
MMSRC157 52 63 11 1.9
----------------------------------------------------
MMSRC151 103 109 6 3.3
----------------------------------------------------
MMSRC141 48 55 7 2.69
----------------------------------------------------
MMSRC129 18 23 5 3.69
----------------------------------------------------
MMSRC126 84 94 10 1.8
----------------------------------------------------

----------------------------------------------------
CRAIGGIEMORE
----------------------------------------------------
FROM TO WIDTH GRADE
HOLE No. (m) (m) (m) (g/t Au)
----------------------------------------------------
CMRC319 30 56 26 9.57
----------------------------------------------------
CMRC313 5 22 17 4.32
----------------------------------------------------
CMRC261 63 73 10 7.31
----------------------------------------------------
CMRC310 13 21 8 8.91
----------------------------------------------------
CMRC325 47 51 4 17.22
----------------------------------------------------
CMRC322 36 44 8 7.26
----------------------------------------------------
CMRC326 31 38 7 8.25
----------------------------------------------------
CMRC328 46 54 8 6.67
----------------------------------------------------
CMRC249 138 142 4 11.65
----------------------------------------------------
CMRC298 0 9 9 4.66
----------------------------------------------------
CMRC276 21 36 15 2.57
----------------------------------------------------
CMRC267 106 112 6 6.39
----------------------------------------------------
CMRC316 29 38 9 3.92
----------------------------------------------------
CMRC260 98 103 5 6.34
----------------------------------------------------
CMRC321 53 60 7 4.26
----------------------------------------------------
CMRC266 73 77 4 6.69
----------------------------------------------------
CMRC279 5 13 8 3.05
----------------------------------------------------
CMRC246 128 132 4 5.88
----------------------------------------------------
CMRC296 10 14 4 4.78
----------------------------------------------------
CMRC269 63 66 3 6.05
----------------------------------------------------
CMRC312 19 23 4 4.19
----------------------------------------------------
CMRC256 25 33 8 2.06
----------------------------------------------------
CMRC284 57 59 2 7.79
----------------------------------------------------
CMRC284 66 68 2 7.78
----------------------------------------------------
CMRC303 11 14 3 4.53
----------------------------------------------------
CMRC252 68 72 4 2.73
----------------------------------------------------
CMRC317 16 20 4 2.69
----------------------------------------------------
CMRC263 6 10 4 2.54
----------------------------------------------------
CMRC248 0 4 4 2.43
----------------------------------------------------
CMRC280 63 67 4 2.28
----------------------------------------------------
CMRC247 0 3 3 2.97
----------------------------------------------------
CMRC278 68 71 3 2.96
----------------------------------------------------


To view the Map: Craiggiemore Development Project Drilling Results, please click on the following link: http://media3.marketwire.com/docs/cra713m1.pdf

The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr Neal Leggo, who is a Member of the Australian Institute of Geoscientists. Neal Leggo has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" and a Qualified Person under "Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects". Neal Leggo consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Neal Leggo is employed by Crescent Gold Limited.

ABN 49 087 360 996

SHARE INFORMATION

ASX Share Price: A$0.135

Issued Shares: 620.1m

Market Cap: A$83.7m

Options unlisted: 35.9m

FULLY DILUTED BASIS

Shares: 656.0m

Contact Information

  • Crescent Gold Limited - Australia
    Roland Hill
    +61 8 6380 7100
    or
    Crescent Gold Limited - Australia
    Mark Tory
    +61 8 6380 7100
    or
    Crescent Gold Limited - Canada
    Renee Brickner
    +1 604 802 6806
    info@crescentgold.com
    www.crescentgold.com