Monday, 5th September 2005 (2722 views)

Crew Gold has successfully defined further resources after drilling, which took place around its Nalunaq Gold Mine in Greenland.

After independent verification, Crew Gold can report that the resource for its Mountain, Upper, Target West and South Blocks contains 1.32 million tonnes at a best-estimated gold grade of 18g/t within the range 16-21 g/t.

The expected gold grade is consistent with 2000's sampling of the Target Block and the grade range reflects the likely variability in a coarse-grade high-nugget system such as this.

Drilling will continue in both the Mountain and Valley blocks to provide further information.

Due to the so far encouraging results, the company will now be looking into constructing a processing plant.

Mine planning is scheduled to allow for ready access and the definition of mineral reserves.

Nalunaq is located in the south of Greenland, a country which counts zinc, lead, iron ore, coal, molybdenum, gold, platinum and uranium amongst its natural resources.

 

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