Crescent Gold Limited: Quarterly Report-31 December 2005.PERTH, Australia Perth may refer to:
See: Australian Stock Exchange :CRE CRE Commercial Real Estate CRE Corporate Real Estate CRE Commission for Racial Equality (Scotland) CRE CCD (Charge Coupled Device) and Readout Electronics CRE Camp Response Element ) - HIGHLIGHTS A$8.9m cash received, A$12m cash total. - Some 49.5m of the total 67m CREO's were exercised, raising A$8.9m; - The company can proceed with production with a strong balance sheet. - Contract tenders and schedules are now being prepared. Laverton - substantial improvements in reserves, gold price. - Net Cashflow (Profit) from reserves est. at A$74.3m (A$750/oz - recent spot price). - Three year Flat Forward gold price is now quoted at A$794/oz. - Cash (C1) costs A$313/oz (US$235/oz @ A$0.75) - excellent margins. - 1mtpa restart cost re-estimated A$5.6m - A$5.9m capex to expand to 1.5 mtpa. Laverton Ore Reserves nearly double to 292,000 ozs. - Ore Reserve 4.4mt at 2.1g/t. - Nearly double the previous (BFS BFS Bundesamt Für Statistik BfS Bundesamt für Strahlenschutz (German: federal office for radiation protection) BFS Bowling for Soup (band) BFS Bankable Feasibility Study BFS British Fertility Society Nov 2004 - 148,500 ozs, 1mpta at A$575/oz). - 53% increase on previous Sickle sick·le v. 1. To cut with a sickle. 2. To deform a red blood cell into an abnormal crescent shape. 3. To assume an abnormal crescent shape. Used of red blood cells. Reserve. Probable ore reserves now 2.2mt at 2.1 g/t for 149,000 ozs. - Better drill intersections received: 12m at 9.6 g/t from 41m 6m at 7.3 g/t from 139m 1.38m oz of Inferred Resource - Laverton Gold. - 29.5mt @1.5 g/t mostly soft, shallow oxide at Laverton. - Fish Mineral Resource estimate of 0.66mt at 4.1 g/t for 87,000 ozs. Board Welcomes Tookie Angus - Independent Director. - Tookie Angus appointed to the Board as an Independent Director. Laverton Reserves - 4.4mt @ 2.1 g/t - 292,000 ozs During the December quarter the company compiled its ore reserve statement for the Laverton gold project (Table 1). The ore reserves have been based on the company expanding the existing gold plant to 1.5 mtpa and a gold price of A$625/oz (US$460/oz). This is a 97% increase on ounces and reflects the work completed over the last 12 months. The ore reserve estimate has been carried out by Orelogy consultant mining engineer Steve Craig Steve Craig (born March 13, 1951, in Pittsburgh, Pennsylvania) is an American football player who played tight end in the National Football League from 1974 to 1978 and played in two Super Bowls. . Figure 1 - Location of Ore Reserves-Laverton Gold To view Figure 1 please click on the following link: http://www.ccnmatthews.com/docs/CREfig1.jpg
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Table 1 - Summary of Ore Reserves as at December 2005
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Ore Reserves Pit Design
Strip Max
Tonnes Grade Ounces Work ratio Depth
Deposit (Kt) (g/t) (ozs) Index W:O (m)
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Sickle 2,160 2.1 149,000 10.6 7.7 100
Fish 430 4.0 55,000 19.0 16.6 100
Euro 530 1.6 28,000 5.7 6.5 80
Admiral Hill 1,110 1.4 49,000 8.2 4.5 75
West Laverton 150 2.4 11,000 5.7 17.0 70
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TOTAL 4,380 2.1 292,000
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Gold grades are rounded to 1 decimal figure.
Abbreviations used:
Kt equals 1,000 tonnes,
g/t equals grams per tonne
Definitions;
Ore reserves - Reserves are classified as Proven and Probable,
greater than 0.8 g/t cut off.
Reserve ounces - Net of mine dilution and ore loss Max.
Depth is the maximum pit depth below surface
Asumptions:
A$625/oz spot price,
State Royalty applied at 2.5% and Native Title Royalty of A$1.60/oz.
1.5mtpa mill expanded case
Table 2 - Financial Summary of Ore Reserves December 2005.
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Net Cashflow Recovered Cash Total
A$675/oz A$750/oz Ounces Costs/oz Costs/oz
Deposit (A$m) (A$m) (ozs) (C1) (C1+C2+C3)
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Sickle 26.4 40.2 137,700 306 466
Fish 11.9 17.1 52,700 253 433
Euro 2.9 5.5 26,800 336 551
Admiral Hill 4.8 9.5 47,100 370 556
West Laverton 0.9 2.0 11,100 384 577
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TOTAL 46.9 74.3 275,400 313 488
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Mining and processing costs were updated to reflect the recent
increases recorded. All other technical inputs were sourced and
updated from the BFS.
Definitions;
- C1 - Cash Costs, excluding admin, overheads, capitalised waste,
depreciation, amortisation
- C1+C2+C3 - Cash Costs + admin, overheads, capitalised waste
- Ore Reserve ounces - In-situ net of mine dilution and ore loss
- Recoverable ounces - Net recoverable ounces adjusted for CIP Plant
recovery
- Optimisations have been carried out at $625/oz, however cashflows
have been estimated using $675/oz and $750/oz.
Capex, Opex Cost - Updated for 2005 Cost Increases Bemex Corporation Pty Ltd PTY LTD Propriety Limited (company structure in Australia) provided updated capital and operating costs operating costs npl → gastos mpl operacionales for re-starting the 1mpta Laverton Gold Plant and also expanding the plant to 1.5 mtpa by adding a second ball mill (Expansion option). The total infrastructure re-start cost of $5.6 million includes: - Refurbishment re·fur·bish tr.v. re·fur·bished, re·fur·bish·ing, re·fur·bish·es To make clean, bright, or fresh again; renovate. re·fur of the 1mtpa Laverton Gold Plant, - Including EPCM EPCM Engineering, Procurement, Construction Management EPCM Essential Procedures for Clinical Microbiology EPCM Enhanced Planning Control Message EPCM Enterprise Portal Content Management EPCM European Project & Change Management (The Netherlands) cost, - First fill reagents, - Commissioning; and - 15% contingency. The estimated processing cost per tonne, excluding administration, ranges between $11.2 and $12.7 per tonne. The additional expansion to 1.5mtpa, estimated at $5.9 million, includes: - EPCM cost, - First fill reagents, - Commissioning and - Contingencies. Bringing the total cost to 1.5mtpa capacity to $11.5 million. Estimated processing cost per tonne, excluding administration, ranges between $9.1 and $10.5 per tonne. Sickle Ore Reserve - 2.2mt @ 2.1 g/t, 149,000 oz The probable ore reserve estimate for the Sickle deposit has increased 41%. The new estimate incorporates the 1.5mtpa expansion study and a gold price of A$625/oz (US$460/oz). This is a 41% increase on recovered ounces and reflects the work completed over the last nine months. The ore reserve estimate has been carried out by Orelogy consultant mining engineer Steve Craig.
The following table summarises results of the optimisation study.
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Sickle Deposit 1.5 mpta
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Ore mt 2.2
g/t 2.1
Waste mt 16.7
Strip ratio W:O 7.7
Gold - Contained ozs 149,000
Bond Work Index 10.6
Gold Recovery % 91.5
Gold - Recovered ozs 137,000
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Figure 2 - Sickle, 3D image of Resource and Pit Design To view Figure 2 please click on the following link: http://www.ccnmatthews.com/docs/CREfig2.jpg Fish Reserve - 430,000 t @ 4.1 g/t The initial Fish Reserve estimate incorporates the 1.5 mtpa expansion study and a gold price of A$625/oz (US$460/oz). This reflects the work completed over the last nine months. The ore reserve estimate has been carried out by Orelogy consultant mining engineer Steve Craig. During November 2005, FinOre Mining Consultants produced a new block model using ordinary kriging (OK) estimation techniques for the Fish Resource which is 92 km from the Laverton plant and is located in the Jasper Hills Tenements. The resource contains 660,000t at 4.1 g/t for 86,000 ozs and provides the basis for the optimisation and design work. A mineable reserve of 426,000t at 4.02 g/t for 54,900 ozs can be achieved after accounting for dilution and mining recovery. The strip ratio is approximately 17:1, and the total pit volume is nearly 3.0m bcm. Overall cashflow at A$625/oz is robust at A$9m, before capital costs. Figure 3 - Fish, 3D image of Resource and Pit Design To view Figure 3 please click on the following link: http://www.ccnmatthews.com/docs/CREfig3.jpg As at 31 December 2005, the measured, indicated and inferred resource at Laverton totalled 29.5 million tonnes at 1.5 g/t Au containing 1,384,000 ozs of gold, detailed as follows;
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Measured Indicated Inferred Total
Gold Ton- Gra- Ton- Gra- Ton- Gra- Ton- Gra-
Resources nes de nes de nes de nes de Ounces
(kt) (g/t) (kt) (g/t) (kt) (g/t) (kt) (g/t)
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Sickle 7,150 1.7 2,550 1.5 9,700 1.7 520,000
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Euro 570 1.7 76 1.5 53 1.5 699 1.7 38,000
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Armstrong 4,831 0.8 1,638 1.4 6,469 0.9 197,000
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West
Laverton 392 1.9 321 2.1 713 2.0 45,000
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Fish 320 4.0 180 4.4 160 3.7 660 4.1 87,000
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West
Laverton
Group 48 1.9 829 2.8 877 2.7 77,000
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Central
Laverton
Group 544 1.7 3,532 1.3 4,076 1.4 183,000
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South
Laverton
Group 948 1.1 948 1.1 35,000
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Jasper
Hills
Group 4,125 1.0 4,125 1.0 130,000
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Burtville
Group 210 2.1 1,060 1.7 1,270 1.8 72,000
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TOTAL
RESOURCES 890 2.5 13,431 1.4 15,216 1.4 29,537 1.5 1,398,000
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ADDITIONAL NOTES FOR TABLE 1
- Figures contained within Table 3 have been rounded. Gold grades are
rounded to 1 decimal figure; both estimated tonnes and contained
ounces are rounded to nearest 1000.
- Abbreviations used: Kt equals 1000 tonnes,
g/t equals grams per tonne
- West Laverton Group includes resources for West Laverton, Mary Mac,
Mary Mac South and Craiggiemore.
- Central Laverton Group includes resources for Castaway, Pieces of
Eight, She's Right West, She's Right East, Scotland Yet, Grouse,
Jacks, Bogle, Bogle South, Bells, Ida H and Low Grade Stockpiles.
- South Laverton Group includes resources for Black Label and Lily
Pond Well.
- Jasper Hill Group includes resources for Lord Byron.
- Burtville Group includes resources for Burtville and Karridale
deposits.
- The Karridale deposit is hosted within tenements that are subject
to the Merolia Joint Venture Agreement ("MJV"), in which the
company holds 75.5% interest in the MJV.
- The following mineral resource locations are contiguous with
existing open cut pits West Laverton, Mary Mac, Mary Mac South,
Craiggeimore, She's Right West, She's Right East, Scotland Yet and
Ida H.
Fish Mineral Resource - 660,000t @ 4.1 g/t The initial Mineral Resource for Fish was based on recently completed work, including; - 28 Infill in·fill n. 1. The use of vacant land and property within a built-up area for further construction or development, especially as part of a neighborhood preservation or limited growth program. 2. RC drill holes. - 3 HQ triple tube diamond drill holes. - Further density determinations to substantiate the in-situ dry bulk density model. - Improved geological interpretation. - Metallurgical met·al·lur·gy n. 1. The science that deals with procedures used in extracting metals from their ores, purifying and alloying metals, and creating useful objects from metals. 2. parameters The Mineral Resource estimate confirms the earlier reported high grade continuity and indicates that the Fish deposit hosts a substantial amount of high grade material. The estimate has been completed by independent resource consultants, FinOre Mining Consultants, and has been classified in accordance with Australasian Code for Reporting of Exploration Results, Mineral Resources Noun 1. mineral resources - natural resources in the form of minerals natural resource, natural resources - resources (actual and potential) supplied by nature and Ore Reserves (the 'JORC Code'). The resource estimate at 1.0 g/t cut-off cut-off Anesthesiology The point at which elongation of the carbon chain of the 1-alkanol family of anesthetics results in a precipitous drop in the anesthetic potential of these agents–eg, at > 12 carbons in length, there is little anesthetic activity, is detailed in Table 4.
Table 4 - Fish Mineral Resource Estimate Classification
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Measured Indicated Inferred Total
------------- ------------- ------------- ---------------------
Tonnes Grade Tonnes Grade Tonnes Grade Tonnes Grade Ounes
(kt) (g/t) (kt) (g/t) (kt) (g/t) (kt) (g/t)
------------- ------------- ------------- ---------------------
320 4.0 180 4.4 160 3.7 660 4.1 87,000
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ADDITIONAL NOTES FOR TABLE 1
- Figures contained within Table have been rounded. Gold grades are
rounded to 1 decimal figure; both estimated tonnes and contained
ounces are rounded to nearest 1000.
- Abbreviations used: Kt equals 1000 tonnes,
g/t equals grams per tonne
Figure 4 - Interpreted Geological Section 81010N To view Figure 4 please click on the following link: http://www.ccnmatthews.com/docs/CREfig4.jpg All metallurgical and mining parameters have been obtained and optimisation studies have commenced. Initial engineering assessment and current costing for haulage (100km) have also been completed. Mineralisation at Fish is confined within a tabular steeply dipping BIF BIF In currencies, this is the abbreviation for the Burundi Franc. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. unit that has been delineated de·lin·e·ate tr.v. de·lin·e·at·ed, de·lin·e·at·ing, de·lin·e·ates 1. To draw or trace the outline of; sketch out. 2. To represent pictorially; depict. 3. over a 350m strike length (refer Figure 4). The immediate area north and south of the resource is considered prospective for further mineralisation. Furthermore, anomalous mineralisation has been recorded in the footwall foot·wall n. Geology 1. The mass of rock underlying a mineral deposit in a mine. 2. The underlying block of a fault having an inclined fault plane. and presents the company with a priority drill target. Several mineralised intersections lie below the Mineral Resource estimate and could not be classified due to the lack of drilling. These intersections occur between the 330mRL and 175mRL, 140m below surface. Figure 5 - Fish, 1.0 g/t shell, with Granite surfaces, looking To view Figure 5 please click on the following link: http://www.ccnmatthews.com/docs/CREfig5.jpg Figure 6 - Fish Geological Plan To view Figure 6 please click on the following link: http://www.ccnmatthews.com/docs/CREfig6.jpg Exploration - Further Encouraging Results Drill Result Highlights - Better RC intersections received and previously reported at Fish include: 11m @ 7.6 g/t from 70m 10m @ 6.1 g/t from 154m 4m @ 5.3 g/t from 83m 13m @ 4.0 g/t from 8m 7m @ 2.9 g/t from 68m 7m @ 7.0 g/t from 12m 8m @ 5.7 g/t from 96m 8m @ 5.6 g/t from 107m - Current RC drilling at Sickle will further impact the mineral resource estimate. Recently announced results include: 12m @ 9.6 g/t from 41m 6m @ 7.3 g/t from 139m The project economics are highly leveraged to a higher gold price. The company is conducting optimisation studies based on gold price sensitivities for the other resources contained within the 1.38m ozs total. Exploration - Sickle Corridor Exploratory RAB Rab (räb), Ital. Arbe, island (1991 pop. 9,205), 40 sq mi (104 sq km) off Croatia, in the Adriatic Sea. One of the Dalmatian islands, it is a popular seaside resort. Fishing and agriculture are the main occupations. drilling of regional gravity survey targets along the Sickle Corridor is planned to commence shortly. The Black Swan tenement A comprehensive legal term for any type of property of a permanent nature—including land, houses, and other buildings as well as rights attaching thereto, such as the right to collect rent. (E38/420) lies immediately to the south of Sickle and is considered highly prospective for the southerly extension of the East, West and Main Lodes of Sickle. Several new prospective areas have been identified for follow up over the course of 2006. The Gravity survey (image below) was completed in the December Quarter and has highlighted a number of subtle, large gravity features, similar to those associated with the Sickle ore body. Crescent will be discussing future work programs to the south on the Black Swan tenement with its Joint Venture Partner, Barrick Gold Barrick Gold Corporation TSX: ABX NYSE: ABX is the largest pure gold mining company in the world, with its headquarters in Toronto, Ontario, Canada; and four regional business units (RBU's) located in Australia, Africa, North America and South America. , following the recent Placer takeover. Figure 7 - Sickle Corridor and Black Swan Gravity Anomalies A gravity anomaly is the difference between the observed gravity and a value predicted from a model. Geodesy and geophysics In geodesy and geophysics, the usual model is the surface of a global spheroid (ellipsoid of Hayford or WGS84) by rather simple formulae (2 functions of To view Figure 7 please click on the following link: http://www.ccnmatthews.com/docs/CREfig7.jpg Uranium The review of Crescents' Uranium properties continued during the quarter. All historical data, geophysics geophysics, study of the structure, composition, and dynamic changes of the earth, its atmosphere, hydrosphere and magnetosphere, based on the principles of physics. and remote sensing Deriving digital models of an area on the earth. Using special cameras from airplanes or satellites, either the sun's reflections or the earth's temperature is turned into digital maps of the area. data was acquired and integrated into the exploration database. Although still in early stages, regional exploration models and preliminary targets have been developed, with projects ranked according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. their overall prospectivity. The company elected not to exercise the A$0.5m option over Woolner and Alive Springs, which were returned to the vendor in December 2005. The present uranium portfolio consists of ten exploration licences or exploration licence applications in both Western Australia Western Australia, state (1991 pop. 1,409,965), 975,920 sq mi (2,527,633 sq km), Australia, comprising the entire western part of the continent. It is bounded on the N, W, and S by the Indian Ocean. Perth is the capital. and the Northern Territory, covering over 5100 km2 of terrain highly prospective for uranium and other commodities. Figure 8 - Uranium Projects To view Figure 8 please click on the following link: http://www.ccnmatthews.com/docs/CREfig8.jpg Western Australia - Ethel Hills At the Ethel Creek project (E39/995 and 39/996) in Western Australia, located 130km southeast of the companies Laverton Gold Operations, geophysics and remote sensing data is currently being assessed. Already, a number of target areas prospective for calcrete and sandstone hosted uranium mineralisation as well as gold and nickel have been identified. A number of paleochannel systems have been located that overlie o·ver·lie tr.v. o·ver·lay , o·ver·lain , o·ver·ly·ing, o·ver·lies 1. To lie over or on. 2. To suffocate (a baby, for example) by accidentally lying on top of it. Achaean granitoids. These will be targeted for calcrete-hosted uranium mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. , similar to the many examples of this style of deposit in Australia, including the large Yeelirrie deposit. Further to the east, Mulga mulga Australian vernacular for inland areas where mulga trees, several species of Acacia, especially A. aneura, grow. See also hepatic lipofuscinosis. mulga fern see cheilanthessieberi. Rocks style sandstone hosted targets within younger sediments overlying overlying suffocation of piglets by the sow. The piglets may be weak from illness or malnutrition, the sow may be clumsy or ill, the pen may be inadequate in size or poorly designed so that piglets cannot escape. Achaean rocks also exist. The Mulga Rocks polymetallic deposit, located 40km southeast of Ethel Hills, contains 10.8Mt @ 0.13% U3O8 together with other elements including scandium scandium (skăn`dēəm), metallic chemical element; symbol Sc; at. no. 21; at. wt. 44.9559; m.p. 1,541°C;; b.p. 2,831°C;; sp. gr. 2.99 at 20°C;; valence +3. Scandium is a soft silver-white metal. , cobalt and nickel. Mineralisation is contained within Eocene channel sands and lignites. The project also contains the partly covered southern extension of the Meriola Greenstone belt Greenstone belts are zones of variably metamorphosed mafic to ultramafic volcanic sequences with associated sedimentary rocks that occur within Archaean and Proterozoic cratons between granite and gneiss bodies. , which contains ultramafic ul·tra·maf·ic adj. Ultrabasic. ultramafic Containing mainly mafic minerals. Used of igneous rocks and often used interchangeably with ultrabasic. Dunite is an ultramafic rock. flows and sills Sills , Beverly Originally Belle Silverman. Born 1929. American operatic soprano and manager who joined the New York City Opera in 1953 and was its general director from 1980 to 1989. Noun 1. prospective for nickel sulphide mineralization, as well as BIF and mafic maf·ic adj. Containing or relating to a group of dark-colored minerals, composed chiefly of magnesium and iron, that occur in igneous rocks. volcanics similar to those that host the companies Lord Byron and Fish gold deposits some 45km north. Northern Territory-Calvert Hills A review of the geology and controls to uranium mineralization in the Westmoreland Uranium Field in the Northern Territory has led to the preliminary identification of regional targets within the companies Calvert Hills Project. No exploration for uranium has been completed in the area for some 15 years. The project covers over 3500 km2 of Proterozoic sediments, volcanics and granitoids within the Murphy Inlier in·li·er n. An area or formation of older rocks completely surrounded by younger layers. [in1 + (out)lier.] . This terrain is actively being explored for uranium by Laramide Resources Ltd across the border in Queensland. A number of structural settings with proximal radiometric anomalies have been identified, similar to the setting that hosts one of the largest deposits in the area, Redtree (10.2Mt @ 0.12% U3O8). The company considers the region to be prospective for IOCGU (Iron Oxide The material used to coat the surfaces of magnetic tapes and lower-capacity disks. Copper Gold +/- Uranium) styles of mineralization, due to the presence of potentially hydrothermal hydrothermal, hydrothermic relating to the temperature effects of water, as in hot baths. iron in the area, as well as the association of hematite hematite (hĕm`ətīt), mineral, an oxide of iron, Fe2O3, containing about 70% metal, occurring in nature in red to reddish-brown earthy masses and in steel-gray to black crystalline forms. and structurally controlled copper-gold-uranium mineralisation. A number of geophysical ge·o·phys·ics n. (used with a sing. verb) The physics of the earth and its environment, including the physics of fields such as meteorology, oceanography, and seismology. features have been identified from broad spaced regional surveys that require further investigation. Northern Territory-Tennant Creek Within the Tennant Creek project, previous exploration by CRA See Community Reinvestment Act. in the 1980's identified an uraniferous granitoid to the northwest of the Warrego copper-gold mine. Anomalous water samples to 1.6% U3O8 were returned, although the source could not be located. The Projects covers over 1000 km2 of ground contained within two ELA's. No exploration for uranium has been completed since this time. A large drainage system Noun 1. drainage system - a system of watercourses or drains for carrying off excess water system - instrumentality that combines interrelated interacting artifacts designed to work as a coherent entity; "he bought a new stereo system"; "the system consists of a that flows north from the granitoid into Crescents ground is to be investigated for potential channel hosted uranium mineralization. Lying under thin cover in the southern portion of the project, the project also contains potential easterly strike extensions from known IOCG IOCG Iron Oxide Copper Gold IOCG International Organization for Crystal Growth deposits, namely the Bull Pup (Potentially Unwanted Program) An application that is installed along with the application the user actually asked for. In most cases, the PUP is spyware, adware or some other unwanted software. and Last Hope Prospects. Further work assessing the potential for this style of deposit is continuing. Northern Territory-Rum Jungle Crescent is currently reviewing the potential within the Rum Jungle Rum Jungle can refer to:
Revolutionary People's Struggle , the unconformity un·con·for·mi·ty n. pl. un·con·for·mi·ties 1. Lack of conformity; nonconformity. 2. Geology A surface between successive strata representing a missing interval in the geologic record of time, and produced between the Whites Formation and Wildman Sandstone that hosts the Mt. Fitch uranium occurrence passes close to the eastern portion of licence area, and regional aeromagnetics aer·o·mag·net·ics n. (used with a sing. verb) The science of magnetic characteristics associated with atmospheric conditions. aer suggests the Whites Formation may also extend further west. The central licence, located immediately north of Mt. Burton uranium deposits overlies Coomalie Dolomite dolomite (dō`ləmīt', dŏl`ə–). 1 Mineral, calcium magnesium carbonate, CaMg (CO3)2. . China - Wulaste The process of transferring the Wulaste Exploration Licences to Crescent Gold's Business Licenced entity progressed during the quarter. Corporate Tookie Angus joined the Board as an Independent Director. Tookie is a well respected International Mining Lawyer, based in Canada, with extensive experience spanning over 30 years in the legal and commercial aspects of Mining across the World. Tookie is currently a Director of several public companies including IMA (Interactive Multimedia Association, Annapolis, MD) An earlier trade association founded in 1988 originally as the Interactive Video Industry Association. It provided an open process for adopting existing technologies and was involved in subjects such as networked services, scripting Exploration Inc. and Nevsun Resources Ltd. Before he resigned in 1997 on completion of a successful takeover, he was Chairman of the Board of BC Sugar Refinery Limited. Tookie's appointment strengthens the Board and facilitates new opportunities for the company to grow. His appointment will also assist the company in completing its TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension Interlisting, which will compliment the existing ASX listing and providing a local market opportunity for our North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. shareholders. Planned March Quarter Activity Advancement to Gold Production - 2006 - Completion of project implementation plan. - Schedule for commencement of production of Laverton Gold Project. - Contract tenders in preparation. - Finalization Writing the table of contents (TOC) on a recordable CD or DVD disc. The finalization process ensures that the disc can be played back on most CD and DVD players. See disc-at-once. of term sheets with a Bank. - Selection and appointment of a bank for Project Finance. - Completion of Notice of Intent to mine. - Securing operational management team. Exploration Activity - RC follow-up of significant RAB intersections and geophysical anomalies around and within Sickle Corridor. - Regional compilation and new target generation. - Advance nickel study. Corporate - Advancing the Crescent Gold TSX inter-listing. - Strategic review of recently acquired Uranium assets. Crescent Gold Limited Andrew Haythorpe, Executive Director The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Andrew Spinks, who is a Member of The Australasian Institute of Mining and Metallurgy metallurgy (mĕt`əlûr'jē), science and technology of metals and their alloys. Modern metallurgical research is concerned with the preparation of radioactive metals, with obtaining metals economically from low-grade ores, with included in a list promulgates by the ASX from time to time. Andrew Spinksis employed by Crescent Gold Limited and 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". Andrew Spinks consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Crescent Gold Limited (ASX.:CRE) |
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