AurCrest Retains Aeroquest for Survey of Richardson Lake Property
28 May 2014 - 2:59AM
Marketwired
AurCrest Retains Aeroquest for Survey of Richardson Lake Property
TORONTO, ONTARIO--(Marketwired - May 27, 2014) - AurCrest Gold
Inc. (the "Company" or "AurCrest") (TSX-VENTURE:AGO) is pleased to
report that it has hired Aeroquest Airborne, a division of Geotech,
to fly the remaining 11 kilometres of the untested Jacquie-Girl
Iron Formation ("JGIF") on its Richardson Lake property. The survey
will begin the first week of June. The JGIF is a 12 kilometre long
iron formation 100% owned by AurCrest. The first kilometre is host
to the South Side Lucky gold discovery made by AurCrest's team in
the late winter - early spring of the 2012 drill campaign. During
the program it was referred to as the Richardson Lake Gold
Discovery in the Company's Press Releases dated April 30, 2012 and
June 5, 2012 whereupon it was announced diamond drillhole RL-12-07
had intersected 15 metres of 1.83 g/t Au, including 3 metres of 7.4
g/t Au. Due to market conditions, the new discovery has lain
dormant until now. This marks the beginning of the 'follow-up'
phase to the discovery set to ascertain the significance of a new
gold hosting iron formation. The Helicopter-Borne High Resolution
Magnetic Survey will define the boundaries of the JGIF and areas of
deformation (folding) which could potentially host other gold
zones.
The Jacquie-Girl Iron Formation is likened to the 8 kilometre
iron formation that hosts the Musslewhite Gold Mine and the 11
kilometre long iron formation that is host to the historic
Homestake Gold Mine. The airborne will cover the untested 11
kilometres trending west from the discovery. Of particular note is
towards the western boundary of the Richardson Lake property where
the Shabumeni Break (Fault) may intersect the JGIF.
The Company wishes to announce that it placed a further 500,000
working capital units (each a "WC Unit") of the non-brokered
private placement announced in its Press Release dated April 16,
2014, for proceeds of $25,000. Securities issued are subject to a
hold period expiring on September 27, 2014. The Company also wishes
to announce that it has increased the Offering to a total of
$450,000 with the addition of up to a further 3,000,000 WC Units
for up to a further $150,000.
Trevor Boyd, P.Geo., Vice-President of Exploration, a qualified
person as defined by National Instrument 43-101, has reviewed and
approved the technical information contained in this news release
in compliance with National Instrument 43-101.
About AurCrest Gold Inc.
AurCrest Gold 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 and Bridget Lake gold properties.
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.
AurCrest Gold Inc.Ian Brodie-BrownPresident and C.E.O.(416)
368-2929info@aurcrestgold.comwww.aurcrestgold.com
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