Goldcrest Intersects Additional Copper-Gold Mineralization at its Gaoua Copper-Gold Project in Burkina Faso, West Africa

    TORONTO, June 19 /CNW/ - Goldcrest Resources Ltd. ("Goldcrest", "the
Company"), (GCL-TSX.V) is pleased to announce additional results from the
on-going diamond drilling program at its Gaoua copper-gold project in southern
Burkina Faso, West Africa.
    Assay results for three more holes (S23GON/07, S26GON/07 and S27GON/07)
have been received and show highly anomalous gold and copper mineralization as
indicated in Table 1 below. A total of 15 holes of the 32 hole program, which
commenced in early April (see news release of 5 April, 2007), were drilled at
the Gongondy target.

    Table 1. Main Cu-Au Intercepts

    Drill Hole No         FROM(*)   TO(*)     Interval(*)
                             (m)     (m)          (m)      Cu (%)    Au (g/t)
    S23GON/07                9.0    78.0         69.0       0,62        0,68
    S26GON/07               77.0    90.0         13.0       0,52        0,35
    S27GON/07               60.0    83.0         23.0       0,45        0,31
                       AND 119.0   178.0         59.0       0,61        0,36
                      INCL 138.0   146.0          8.0       0,69        0,33
                      INCL 154.0   164.0         10.0       0,72        0,39
                      INCL 170.0   177.0          7.0       1,80        0,75

    (*)core length not true width.

    The above intersections are based on a 0.3% Cu cut-off with no top cut
applied. Internal dilution (less than 0.3 % Cu) has been carried to a maximum
of 3m except for S27GON/07 (5m).
    Hole S23GON/07 was designed to test the main breccia as recognized by
previous explorers. The hole intersected 69m of copper-gold mineralization
averaging 0.62% copper and 0.68g/t gold. The hole confirms the extension of
the mineralized breccia towards the east and indicates that the mineralization
dips towards the west.
    Hole S26GON/07 and S27GON/07, drilled respectively 400m and 500m north of
hole S23 (See Figure 1 -,
confirmed the presence of a second breccia pipe in the area and/or a northern
extension of the main breccia, to be verified with additional drilling (second
phase). Hole S26GON/07 is interpreted to have intersected the mineralization
too far to the east, missing the "core" of the mineralization as reflected by
a narrower copper-gold mineralized intercept (13m @ 0.52% Cu and 0.35g/t Au)
within in a wider gold-rich envelope (87m @ 0.42g/t Au, see Table 3).
S27GON/07 encountered several zones of high grade copper-gold mineralization
with the most significant intercepts being 23 metres averaging 0.45% copper,
0.31 g/t gold and 59 metres grading 0.61% copper and 0.36g/t gold. The latter
zone includes a 7 metre intersection grading 1.8% copper and 0.75g/t gold.
    The drill holes confirm the nature and grades of the mineralized breccia
as reported in the Company's news release of May 23, 2007. The hydrothermal
breccia is largely hosted by diorite porphyry intrusions, though it extends
into the adjacent volcanic tuffs. The Cu-Au mineralization seems confined to
the dioritic porphyry dominated area. The mineralized breccia is characterized
by small clasts and by the presence of centimetric clots of cementing minerals
that approximate a triangular form. The hydrothermal cement is composed of
quartz, K-feldspar, epidote, chalcopyrite, bornite, pyrite, calcite and
anhydrite. Open cavities occur in core recovered from above the sulphate
front, thereunder anhydrite is an important late cementing mineral. Most of
the breccia-hosted mineralization consists of hypogene chalcopyrite with which
gold values appear to be closely correlated.
    The above assay results were obtained on HQ and some NQ sized core
sampled at one metre intervals on average and cut in half using a diamond saw.
One-half of the core was archived at the core storage facility on site while
the other half was sent to Abilab Burkina S.A.R.L, Ouagadougou/Burkina Faso
(subsidiary of ALS Laboratory Group) for standard preparation (crushing,
pulverization, split) and gold fire assay on 50g charge. Copper was assayed by
atomic absorption at the ABILAB facilities in Bamako/Mali, while multi-element
analysis, aimed at characterizing the mineralization, is being carried out by
ICP-MS by the ALS Laboratory Group in the Republic of South Africa (results
pending). The accuracy of the results was tested through the systematic
inclusion of standards (Ore Research and Exploration, Australia, (OREAS) Cu-Au
and OREAS multi-element standards) and field blanks. Standards were inserted
every 15 (S23) to 25 (S26 and S27) samples and blanks every 25 samples. From a
QA/QC perspective, the initial review of results suggests this is a
satisfactory and reliable data set.

    Table 2. Drill Hole Locations for Holes 23, 26 and 27.

                          Location(*)                              Drill Hole
    Drill Hole No        North    East       Dip        Azimuth    Length (m)
    S23GON/07          1139350  499305  50 degrees   N90 degrees E     311.0
    S26GON/07          1139750  499296  55 degrees   N90 degrees E     356.7
    S27GON/07          1139900  499273  50 degrees   N90 degrees E     311.6
    (*)Datum WGS84, coordinates as planned, final coordinates to be further
    surveyed and confirmed.

    Important isolated gold highs which are not directly associated with the
copper mineralization, occurring beyond the above-listed mineralized
intervals, are presented in table 3.

    Table 3. Main gold intervals not directly associated with high copper

    Drill Hole No    FROM(*) (m)   TO(*) (m)   INTERVAL(*) (m) Au (g/t)
    S26GON/07              3.0      90.0            87.0         0,42
                        192.55     205.0           12.45         0,61
    S27GON/07            235.0     237.0             2.0         0,98
                         245.0     255.0            10.0         0,45

    (*)core length not true width.

    The above intersections are based on a 0.3g/t Au cut-off with no top cut
applied. Internal dilution (less than 0.3 g/t Au) has been carried to a
maximum of 2m except for the wider intercept in S26GON/07 (5m). The gold
mineralization in the deeper parts of the hole appears to be related to
mineralized veins and alterations which may post-date the Cu-Au sulphide
mineralization phase.
    Based on the initial results, the drilling program has been expanded by a
further 750 metres. To date, drilling on the Gongondy target has been
completed for this phase of work. 15 angle and vertical core holes were
completed, testing the main and two inferred breccias and the porphyry-style
mineralization in the Gongondy target area, totalling 4,464 meters. Together
with the assays of hole S19GON/07, reported in a press release dated May 23,
2007, results have been obtained for 4 holes. Results for the remaining holes
will be released as they become available. The drill rig has now been moved to
the Dienemera target, about 8km due north of Gongondy where it will be testing
the Dienemera target (See Figure 2 - with a further 15 holes.
    This drilling campaign is being funded by Phelps Dodge Exploration
Corporation ("PDEC"), a subsidiary of Freeport-McMoRan Copper & Gold Inc., as
part of its earn-in (see news release of 21 November, 2006). Approximately
$2 million is planned to be spent on the Gaoua project in this current phase.
    Under the guidelines of National Instrument 43-101, the qualified person
for the Gaoua copper-gold project is Mr. Guy Franceschi, Consulting
Exploration Manager for West Africa. Mr. Franceschi is a member of the
European Federation of Geologists and has reviewed and approved the contents
of this news release.

    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
closing of the transaction, the acquisition of Gidgee Gold Project and
Aphrodite Gold Project by Apex and the strategy and plans of Apex. 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

    %SEDAR: 00017848E

For further information:

For further information: Kevin Bullock, P.Eng., President & CEO,
Goldcrest Resources Ltd.,, Ph: (647) 388-1842,
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