Quartz vein yields high grade gold on Talbot Lake property

The property is north of Troutfly Lake, about 62 miles northeast of the town of Pickle Lake, Ont.

Placer Dome, operator of the project, recently released a series of channel-sample assay results to its junior partner Golden Crescent Resources. Highlights of the surface results are as follows: Channel Width Gold No. (ft) (oz/t) A 3.3 0.25 B 7.2 0.14 C 11.5 0.33 D 21.3 0.33 incl. 5.6 1.19 E 7.2 0.15 F/G 11.5 0.41 incl. 2.6 1.08 and 8.9 0.21 H 3.3 0.23 I 7.2 0.41 J 13.6 0.25

Golden Crescent President Vance White said the assays were obtained from up-dip surface extensions of gold zones intersected in earlier drilling. The distance between the samples was not specified.

To date, Placer Dome has drilled more than 26,000 ft in 47 holes on the Talbot Lake prospect. Anomalous gold values have been intersected sporadically in a 3- to 15-ft wide quartz vein over a strike length of 600 ft and to depths of 442 ft. Geologically, the vein is hosted by a belt of mafic volcanic rocks and intercalated iron formations. The mineralized zone is disrupted by several granodiorite dykes and fault structures.

According to Golden Crescent, results from a 13,000-ft drill program, currently under way, should be available by the end of October.

In other news, the company said it has completed a private placement of one million units consisting of one flow-through share at 50 cents , and a warrant to purchase another flow-through share at 70 cents .

Shares of Golden Crescent have traded at 90 cents recently on The Alberta Stock Exchange. The company has an option to earn a 49% interest in the Talbot Lake prospect.

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