Goldcrest Commences 8,000 Metre Diamond Drilling Program at the Gaoua Copper-Gold Project in Burkina Faso, West Africa

    TORONTO, April 5 /CNW/ - Goldcrest Resources Ltd. ("Goldcrest", "the
Company"), (GCL-TSX.V) is pleased to announce the commencement of an
8,000 metre diamond drill program at the Gaoua copper-gold project in Burkina
    There are two main objectives for this drilling program. One is to
further define and test the depth extension of the two known Cu-Au mineralized
breccia structures which show porphyry copper characteristics. The other is to
test three new target areas which exhibit similar Cu-Au mineralized breccia
    Approximately 30 holes will be drilled to depths ranging between 200 and
450 metres to assess five target areas identified from historical data and by
regional geological, geophysical and geochemical programs carried out
previously by the Company.
    "We are beginning to grasp the considerable potential of the Gaoua Cu-Au
porphyry," says Kevin Bullock, President and CEO of Goldcrest Resources Ltd.
"This aggressive diamond drill program will provide information that should
lead us to a better understanding of the mineralization in order to plan
further programs."
    This drilling campaign is being executed under the auspices of the option
agreement that the Company signed with Phelps Dodge Exploration Corporation
("PDEC"), a wholly-owned subsidiary of Freeport McMoRan Copper & Gold Inc.
(see news release of 21 November, 2006).
    The program is underway with one drill rig from West African Drilling
Services. A second drill rig is being considered in order to accelerate the
execution of the program. The program should be completed by the end of the
third quarter of 2007.
    The known mineralized areas are located near the Dienemera village in the
Company's Malba exploration permit, and near the Gongondy village in the
Company's adjacent Souhouera permit. The mineralization is genetically related
to the porphyry complexes as part of porphyry copper-gold systems. Most of the
breccia-hosted mineralization consists of hypogene chalcopyrite with which
gold values appear to be closely correlated. The Dienemera and Gongondy
mineralized areas, are approximately 10km apart and lie within the confines of
a previously defined 20km long copper-in-soil geochemical anomaly.
    The three other target areas lie within this geochemical anomaly and
occur near the Gongondy and Dienemera mineralized areas. The targets near
Gongondy have been tested by one or two historical holes which returned Cu and
Au grades, but no core nor detailed logs from these holes have been retrieved,
and as such, the precise nature of the mineralization cannot be determined.
The Mont Biri target, near Dienemera, consists of an outcropping breccia with
local chalcopyrite fragments and abundant malachite staining. Historical
exploration close to the target, including scattered diamond drill holes and
abundant RC holes, confirmed the presence of copper and gold mineralization.
    Under the guidelines of National Instrument 43-101, the qualified person
for the Gaoua copper-gold project is Mr. Guy Franceschi, Exploration Manager
for West Africa. Mr. Franceschi is a member of the European Federation of
Geologists and has reviewed and approved the geological contents of this news

    Goldcrest Resources Ltd. is a mineral exploration company focused on
growing shareholder value through the advancement of its Youanmi project in
Western Australia and its Gaoua copper-gold and Kampti and Titao Sud gold
projects in Burkina Faso. The Youanmi project has complete infrastructure
including a carbon in pulp ("CIP") processing plant, a biological leach plant
and a mine village on site. The Youanmi property has previously produced over
667,000 ounces of gold. New NI 43-101 estimates identify measured and
indicated resources of 432,249 ounces of gold (5,449,249 tonnes @ 2.47 g/t Au)
and inferred resources of 519,190 ounces of gold (2,785,546 tonnes at) 5.80
g/t Au). The mineral resource estimates have been prepared in accordance with
National Instrument 43-101 and were reported on by Ravensgate Pty Ltd. and RSG
Global Pty Ltd.of Perth, Western Australia. (See Qualified Persons Report
dated July 16, 2003 by RSG Global Pty Ltd., Independent Resource Model Report
On the Youanmi Deeps Underground Gold Project dated July 25, 2006 by
Ravensgate Pty Ltd., and Amended Independent Resource Model Report On the
Youanmi '4 pits' and Youanmi 'South' Gold projects by Ravensgate Pty Ltd.
dated August 15, 2006, all filed on Sedar). (

    The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. Except for the
historical statements contained herein, this news release presents
"forward-looking statements" within the meaning of Canadian securities
legislation that involve inherent risks and uncertainties. Forward-looking
statements include, but are not limited to, statements with respect to the
future price of gold and other minerals and metals, the estimation of mineral
reserves and resources, the realization of mineral reserve estimates, the
capital expenditures, costs and timing of the development of new deposits,
success of exploration activities, permitting time lines, currency exchange
rate fluctuations, requirements for additional capital, government regulation
of mining operations, environmental risks, unanticipated reclamation expenses,
title disputes or claims and limitations on insurance coverage. Generally,
these forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not expect",
"is expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of Goldcrest to be materially different
from those expressed or implied by such forward-looking statements, including
but not limited to: risks related to international operations, risks related
to the integration of acquisitions; risks related to joint venture operations;
actual results of current exploration activities; actual results of current or
future reclamation activities; conclusions of economic evaluations; changes in
project parameters as plans continue to be refined; future prices of gold and
other minerals and metals; possible variations in ore reserves, grade or
recovery rates; failure of equipment or processes to operate as anticipated;
accidents, labour disputes and other risks of the mining industry; and delays
in obtaining governmental approvals or financing or in the completion of
development or construction activities. Although the management and officers
of Goldcrest Resources Ltd. believe that the expectations reflected in such
forward-looking statements are based upon reasonable assumptions and have
attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking statements, there
may be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements. Goldcrest does not undertake to
update any forward-looking statements that are incorporated by reference
herein, except in accordance with applicable securities laws. Trading in the
securities of Goldcrest Resources Ltd. should be considered highly

For further information:

For further information: Kevin Bullock, P.Eng., President & CEO,
Goldcrest Resources Ltd.,, Ph: (416) 867-2299,
Fax:(416) 867-2298; Ann Gibbs, Investor Relations, Goldcrest Resources Ltd.,, Ph: (416) 488-0778; Corporate Website:

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890