Posted in | Gold | Mining Business

Crescent Gold Releases Statement Regarding $45 Million Rights Issue

Crescent Gold Limited (TSX:CRA)(ASX:CRE)(FRANKFURT:CRE5) released a statement today headlined "Crescent Gold's $45 million Rights Issue Creates a Platform for Growth".

Within the statement, Crescent stated that 'preliminary mining studies indicate the opportunity to recommence mining of 2.66Mt of resource at an average grade of 6.64 g/t Au.'

The information in this report that relates to gold Exploration Results is based on information compiled by Mr Jeff Ion, who is a Member of the Australasian Institute of Mining and Metallurgy and a member of the Australian Institute of Geoscientists and is employed by Crescent.

The information in this report that relates to Ore Reserves utilising underground extraction (the Summit deposit) is based on information compiled by Mr William Holly, who is a Member of the Australasian Institute of Mining and Metallurgy and is an independent consultant.

They each have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are 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" and a Qualified Person under "Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects". They each consent to the inclusion in the report of the matters based on their information in the form and context in which it appears.

Source:Crescent Gold Limited

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