Crew Gold Corporation: Lefa Exploration Update
Wed Apr 23, 9:00 AMLONDON, UNITED KINGDOM--(Marketwire - April 23, 2008) - Crew Gold Corporation ("Crew" or "the Company") (TSX: CRU.TO) (OSLO: CRU.OL) (FRANKFURT: KNC.F) (PINK SHEETS: CRUGF.PK) today announced:
Crew Gold Corporation (Crew) is pleased to report that exploration drilling at LEFA from January to March 2008, has continued to extend the Firifirini resource to both the east and west. Furthermore, drilling at Camp de Base is continuing to support the model linking the mineralization to the Pharmacie mineralization to the east and infill drilling is also showing continuation of the Camp de Base structure. Drilling has been focussed at Firifirini, Lero-Karta-Camp de Base and Fayalala and was a combination of RC and diamond drilling. To the end of March 2008, a total of 14,444m of RC drilling and 1,077m of HQ3 Diamond drilling have been completed comprising 120 RC Holes and 15 DDH tails. Camp de Base Drilling down dip and along strike from known mineralisation at Camp de Base has yielded expected results with broad zones of typical Camp de Base style of mineralisation consisting of disseminated and fracture filled pyrite in highly fractured, siliceous Birimian sandstone. Drilling at depth approaching the sinistral Karta fault has delineated wide dilation zones of gold mineralisation linking up with the Pharmacie structure to the north. Exploration in this area is ongoing and it is expected the Camp de Base pit will now link up to the Karta pit, significantly improving the economics of this area and may result in these two pits optimising into a single pit. Firifirini The geological understanding of the Firifirini deposit skarn mineralization has improved and understanding has highlighted a new focus for exploration going forward across selected areas of the concession. In October 2007, the Company announced an initial reserve for Firifirini of 0.23 million ounces at 2.25 g/t Au. The BBC-prefixed holes listed in the following table are some of the intercepts that show the same mineralization style as Firifirini located 4kms west and is hosted in a typical retrograde skarn context developed by a dioritic intrusion forming contact metamorphism with calcareous sediments. Massive accumulations of magnetite together with lesser pyrite are developed on the contacts with other skarn minerals such as epidote, grossular garnet and diopside. These sites form localised high concentrations of gold with lower more disseminated grades hosted by the altered carbonate-sandstones, marbles or felsic intrusives. Selected intercepts are listed in the table below. The intercepts listed below do not form part of the currently reported resource and are a combination of infill and extensional drilling.
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Max Depth Depth
Hole Depth From To Intercept (1)
Hole_ID Type (m) (m) (m) (metres @ grade)
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FIRIFIRINI and Surrounding Area
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SIRC0349 RC 120 66 73 7m @ 5.54 g/t
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SIRC0354 RC 120 11 14 3m @ 3.64 g/t
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SIRC0359 RC 120 66 69 3m @ 3.67 g/t
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SIRC0382 RC 120 42 47 5m @ 55.78 g/t
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SIRC0397 RC 120 57 60 3m @ 3.22 g/t
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SIRC0406 RC 100 48 51 3m @ 4.51 g/t
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SIRC0519 RC 100 11 14 3m @ 4.52 g/t
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BBC0001 RC 100 31 42 11m @ 8.50 g/t
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BBC0002 RC 100 11 32 21m @ 4.07 g/t
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BBC0018 RC 100 30 36 6m @ 5.00 g/t
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BBC0023 RC 100 18 22 4m @ 3.02 g/t
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BBC0027 RC 80 17 20 3m @ 9.38 g/t
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BBC0034 RC 80 36 49 13m @ 3.40 g/t
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BBC0036 RC 80 42 51 9m @ 11.03 g/t
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LERO-KARTA
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LKCD1146 RCDDH 180 66 87 21m @ 3.73 g/t
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LKCD1155 RCDDH 190 96.55 103 6.45m @ 3.15 g/t
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LKCD1157 RCDDH 190 119 126 7m @ 3.37 g/t
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LKCD1157 RCDDH 215 136 139 3m @ 3.75 g/t
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LKCD1157 RCDDH 215 157 160.52 3.52m @ 3.33 g/t
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LKCD1163 RCDDH 220 75 81.47 6.47m @ 4.80 g/t
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LKCD1166 RCDDH 190 150 155 5m @ 3.70 g/t
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LKCD1167 RCDDH 210 157 173 16m @ 7.31 g/t
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LKCD1169 RCDDH 180 135 145 10m @ 4.10 g/t
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LKCD1170 RCDDH 190 165 169 4m @ 3.38 g/t
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LKCD1172 RCDDH 180 195 212 17m @ 3.90 g/t
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LKCD1175 RCDDH 220 128.3 139 10.7m @ 4.21 g/t
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FAYALALA
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FACD1420 RCDDH 150 42 55 13m @ 3.35 g/t
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FACD1420 RCDDH 150 113.62 118 4.38m @ 24.05 g/t
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Intercept(1) True width has not yet been confirmed
Regional Exploration Crew is also pleased to report further encouraging results from the ongoing regional program. This program has focused in the areas surrounding the LEFA corridor specifically to the north in the Siguirini area, to the southeast on the prospects of Sikasso, Goldring, and Dar Saalam and in the corridor between the known deposits of Lero Karta and Banora. To the end of March 2008, a total of 36,143m of Aircore (AC) drilling has been completed comprising 452 AC holes. The prospects are shown on the attached map of the LEFA Concession and exploration titles. In the Siguirini area near the Firifirini deposit, a new prospect, Toume Toume has been identified and which is hosted in a retrograde skarn context similar to that at Firifirini. At Dar Salaam, four mineralized structures have been delineated by Air Core drilling. Further drilling is planned using both RC and Diamond methods to further test this mineralization. Banora-Lero In the corridor between Lero Karta and Banora, regional exploration has delineated further targets. The Tombakansa target corresponds to a succession of small altered quartz veined structures in a shear zone along strike to the west from the LEFA corridor. Also in this corridor is the prospect of Hansaghere, an 800 m length mineralized structure, orientated N 110 degrees E and dipping south with parallel quartz veining. The structure is still open along strike and down dip. The Fello Antigou prospect contains old workings and is hosted by Birimian sandstones. Diguili North continues to give promising results. Drilling has extended the target at depth to the east and to the south east. Furthermore at Diguili Bougoufe, a small mineralized structure has been identified consisting of a north-east orientation with a southerly dip and is now ready to be tested by RC drilling. The Banora West prospect is hosted in a narrow shear zone, with a southeast orientation located 2 km to the northwest of the Banora deposit.
Selected Results are listed below
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Max Depth Depth
Hole Depth From To Intercept (1)
Hole_ID Type (m) (m) (m) (metres @ grade) Location
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TBR0111 AC 90 38 42 4m @ 1.62 g/t Tombakansa
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TBR0117 AC 90 50 54 4m @ 1.96 g/t Tombakansa
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TBR0135 AC 120 92 96 4m @ 2.73 g/t Tombakansa
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HSR0059 AC 90 18 22 4m @ 1.40 g/t Hansaghere
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FER0021 AC 90 6 12 6m @ 2.34 g/t Fello Antigou
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FER0044 AC 90 14 24 10m @ 4.11 g/t Fello Antigou
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BNR0460 AC 90 44 48 4m @ 4.53 g/t Banora West
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BNR0461 AC 90 14 18 4m @ 2.91 g/t Banora West
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BNR0465 AC 90 76 83 7m @ 2.45 g/t Banora West
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BNR0466 AC 90 8 20 12m @ 1.80 g/t Banora West
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BNR0466 AC 90 28 36 8m @ 3.10 g/t Banora West
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BNR0469 AC 90 74 83 11m @ 2.23 g/t Banora West
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BNR0470 AC 90 12 20 8m @ 0.94 g/t Banora West
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BNR0470 AC 90 38 68 30m @ 1.1 g/t Banora West
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BNR0480 AC 90 22 26 4m @ 1.35 g/t Banora West
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DNR0081 AC 120 106 110 4m @ 2.03 g/t Diguili North
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DNR0108 AC 120 42 46 4m @ 3.24 g/t Diguili North
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DNR0111 AC 120 74 78 4m @ 1.18 g/t Diguili North
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DNR0112 AC 120 4 12 8m @ 1.10 g/t Diguili North
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DNR0114 AC 120 78 84 6m @ 2.50 g/t Diguili North
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DNR0135 AC 120 28 34 6m @ 2.24 g/t Diguili North
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DNR0136 AC 120 98 102 4m @ 2.83 g/t Diguili North
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Diguili
DBR0361 AC 120 40 59 19m @ 2.06 g/t Bougoufe
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Diguili
DBR0362 AC 120 12 32 20m @ 1.31 g/t Bougoufe
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DSR0240 AC 120 46 50 4m @ 3.63 g/t Dar Saalam
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DSR0241 AC 120 8 14 6m @ 3.17 g/t Dar Saalam
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DSR0248 AC 120 28 44 16m @ 1.40 g/t Dar Saalam
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GRR0094 AC 120 18 34 16m @ 6.48 g/t Goldring
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GRR0094 AC 120 46 54 8m @ 1.79 g/t Goldring
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GRR0111 AC 120 114 118 4m @ 1.30 g/t Goldring
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Intercept(1) True width has not yet been confirmed
Quality Assurance and Control and Qualified Person All drilling is conducted using industry accepted equipment and procedures for drilling and sampling. All drill intercepts reported in this press release relate to either RC percussion (dry samples, 1m intervals, greater than 75% sample recovery) or NQ/HQ diamond drill core (half core samples, maximum 1m intervals, greater than 95% sample recovery) for Resource definition drilling, all first pass regional exploration drilling is conducted using AC drilling, with follow up using RC. Historically sampling and assaying of wet RC samples has occurred, this data is flagged in the resource database. A program of confirmatory diamond drilling is ongoing to verify the reliability of this data. All assay results reported have been determined by 50 gram fire assay, aqua regia digest and atomic absorption spectrometer readings to a detection limit of 0.01 g/t gold by independent assay contractors SGS Siguiri. A check assay program with internationally recognized and certified umpire assay laboratories Genalysis (Perth, Australia) and ALS Chemex (Vancouver, Canada) is also conducted to confirm reliability of assay data. The data is verified on an ongoing basis by Crew's Qualified Person. Data, of a scientific or technical nature, regarding mineral reserves and mineral resources of Crew Gold Corporation included in this document has been verified by Mr. Andrew Pardey, the General Manager Exploration. Mr. Pardey is a "qualified person" within the meaning of Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Pardey is not "independent" of Crew Gold Corporation within the meaning of NI 43-101 as he holds securities of the company. All exploration work of the company is conducted under the supervision of Mr. Pardey. Commenting on these latest results, Jan Vestrum President and CEO of Crew commented, "These drilling results continue to demonstrate not only the potential to add resources and reserves on a consistent and fast growing manner, but to do so at higher grades than the current Measured and Indicated resource grade of 1.6g/t Au for the LEFA Gold Mine. Improved grade has been a focus as this is important not only for the overall output from the mine, but a main contributor to lower cash costs The Company is confident that a major part of its future resource growth will come from the LEFA concession and this, together with the ramp-up of production from the CIP plant, will be important value drivers for shareholders." Jan A Vestrum, President & CEO Safe Harbour Statement This news release contains forward-looking statements which reflect the expectations of management and the board of directors, and are made pursuant to applicable and relevant national legislation (including the Safe-Harbour provisions of the United States Private Securities Litigation Reform Act of 1995) in countries where Crew Gold Corporation is conducting business and/or investor relations. Forward looking statements typically contain words such as "believes", "anticipates", "continue", "could", "expects", "indicates", "plans", "will", "may", "projects", "would" or similar expressions suggesting future outcomes or events, although not all forward-looking statements contain these identifying words. Such forward-looking statements reflect the current beliefs of management and the board of directors based on information currently available to them. Forward-looking statements involve inherent risks and uncertainties, and Crew cautions readers not to place undue reliance on these statements as a number of important factors could cause Crew's actual results to differ materially from the beliefs and expectations expressed in such forward-looking statements. Factors that could cause actual results to differ materially from the results discussed in the forward-looking statements, include, but are not limited to, the factors discussed under the heading "Risks and Uncertainties" in Crew's Annual Information Form dated April 2, 2007, as filed on SEDAR at www.sedar.com. Although the forward-looking statements contained in this news release are based upon what management and the board of directors believes to be current and reasonable assumptions, Crew cannot assure readers that actual results will be consistent with these forward-looking statements. The forward-looking statements contained herein are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Crew undertakes no obligation to publicly update or revise these forward-looking statements to reflect subsequent events or circumstances. ContactsUK Head Office Crew Gold Corporation
+44 -1932 268755
Email: enquiries@crewgold.com
Website: www.crewgold.com
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