AurCrest Gold Announces Staking in Birch Lake Greenstone Belt
AurCrest Gold Inc.
AurCrest Gold Announces Staking in Birch Lake Greenstone Belt
FOR IMMEDIATE RELEASE TSXV Symbol: AGO
TORONTO, ONTARIO- (Jan. 25, 2011) - AurCrest Gold Inc. ("AurCrest" or the "Company") (TSX-V:AGO) wishes to announce that it has staked 336 mining claim units for a total of 13,440 acres located 80 km east northeast of Red Lake, Ontario. The Company’s newly-staked Swain Lake Property is 100% owned and covers the central portion of the Birch Lake Greenstone Belt situated between the previous 1930s gold producers, Bathurst Mine 2 km to the west and Sol D’Or Mine 3 km to the east. The Springpole Gold Project operated by Gold Canyon Resources Inc., which announced a diamond drilling intersection of 132 metres of 2.30 g/t Au on October 12, 2010, is situated 15 km to the northeast. The new Redgold Project recently acquired by Premier Gold Mines Ltd is located 10 km to the south.
The decision to stake these claim units by AurCrest was based on its assessment of the Ontario Government’s regional airborne magnetometer and electromagnetic survey coverage of the Birch Lake Greenstone Belt over the area of interest in the context of the identification of a series of historic gold occurrences from previous exploration and government mapping and the northeast trending Swain Lake Deformation Zone. AurCrest is continuing to stake claims in the area of the Birch Lake Greenstone Belt.
Recent discoveries in Red Lake have encouraged more risk capital to pursue new opportunities in the Red Lake region. AurCrest Gold believes that the belt east of Red Lake remains highly prospective. The presence of Premier Gold and the recent discovery by Gold Canyon supports our decision to refocus on gold assets in the area. AurCrests exciting Richardson Lake property is located 20 km distance to the northeast, next to the past producing Argosy gold mine.
Trevor Boyd, P.Geo., a qualified person as defined by National Instrument 43-101 (“NI 43-101”), Vice President of Exploration supervised the preparation of the technical information contained in this press release in compliance with NI 43-101.
The Financing announced December 17th 2010, is now closed.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
AurCrest Gold Inc.
Ian Brodie-Brown President and C.E.O.
(416) 368-2929 (416) 601-1450 (FAX)
[email protected] www.aurcrestgold.com