Crusader Resources Follow-up Sampling Confirms High-Grade Gold Results - Juruena

Perth, Oct 23, 2015 AEST (ABN Newswire) - Crusader Resources Limited (ASX:CAS) (OTCMKTS:CHLXF) announce sampling of individual samples from previously released composite sample results return up to 3m @ 161 g/t gold (inc. 1m @ 329 g/t gold from 101m in MR-10/2015 -Dona Maria prospect) The original 4m composite sample results from MR-10/2015 returned 12m @ 35.13 g/t gold from 99m. Single metre samples from this composite were collected in the field, re-submitted to the lab and returned;

- 8m @ 62.40 g/t gold from 101m including

- 3m @ 161 g/t gold from 101m and

- 2m @ 5.9 g/t gold from 107m

Individual samples are routinely done on composite samples with results >0.5g/t gold to more precisely define mineralised zones

New results from follow-up drill core sampling from Dona Maria prospect, increases significant intercept in MD-01/2015 from 3.4m @ 48 g/t gold (from 183.25m) to 8m @ 21.76 g/t gold from 179m New results from follow-up drill core sampling from Querosene prospect includes 1.03m @ 58.2 g/t gold from 88.46m in hole QD-05/2015 Strong repeatability of composite versus individual samples across all of the prospects drilled in 204/15, is demonstrated and increases confidence in the drilling representivity Global Resource Engineering commissioned to undertake preliminary economic assessment to assist with consideration of potential trial mining operation Crusader has received encouraging results from a program of re-sampling of composite samples that can better define mineralisation zones at the Juruena Gold Project. This sampling is implemented when the previously received composite drill sample results (see ASX announcements released on 18/12/2014, 17/03/2015, 08/05/2015 and 01/07/2015) return values over 0.5 g/t gold.

The Juruena Project (> 400km2 of contiguous tenements, 100% Crusader owned) is located in Central Brazil on the southern fringe of the Amazon basin. Situated on the western end of the prospective Juruena-Alta Floresta gold belt (estimated to have produced ~7Moz Au), Juruena has been worked extensively by artisanal miners (garimpeiros) since the 1980s, producing an estimated 500koz of gold.

Crusader recently announced (ASX Announcement - 29 September 2015) a maiden resource for three prospects at Juruena, including the Dona Maria, Querosene and Crentes prospects. The maiden resource estimated a total of 1.3Mt @ 5.6g/t for 234koz Au.


Drill sample results -Composite comparison

A full table comparing the composite sample results (previously reported) and the newer individual metre results, as well as a graphical summary of the results, is presented below. The data shows that there is no significant bias between the composite sample results and the individual sample results (re-composited for comparison).

Composite sampling (when several intervals of drilling are submitted as a single sample) is routinely implemented in RC drilling as a means to reduce assaying costs. The geologist on the drill rig, logs the hole and selects the most prospective sections- these are sampled on normal spacing- either 0.5m or 1m (depending on the prospect). Areas considered less prospective are composite sampled in order to ensure coverage of the entire hole. Once results are received, composite results above the nominal 0.5 g/t cutoff are re-submitted in their original sample intervals, either 0.5m or 1m.


New diamond drill results -holes MD-01/2015 and QD-05/2015 (Dona Maria and Querosene prospects)

Crusader has received results from follow-up sampling of diamond core which were recently cut, sampled and sent to the lab. The sections of core which were cut and sampled, were targeted after the initial samples results were received and interpreted, prompting follow-up sampling in several holes. The full results are published in Table 2 below and illustrated in Figure 1. Highlights include;

- MD-01/2015 from 3.4m @ 48g/t gold (from 183.25m), has been extended to;

o 8m @ 21.76g/t gold from 179m- Dona Maria prospect

- QD-05/2015 1.03m @ 58.2 g/t gold from 88.46m - Querosene prospect

Significant intercepts are calculated based on a 1g/t lower cut-off, no upper cut and up to 2m of consecutive internal dilution.


Preliminary Economic Assessment

Global Resource Engineering (GRE), a Denver based mining engineering firm specialising in providing geology and engineering services to developing and existing projects, has commenced work to assess the economics of a high-grade trial mining operation at Juruena. This work will involve scoping level underground mine designs for Querosene and Dona Maria. GRE has substantial Brazilian experience and importantly completed work on similar projects also located in the Amazon regions of Brazil.

To view tables and figures, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-CAS-738533.pdf


About Crusader Resources Limited

Crusader Resources Limited (ASX:CAS) is a minerals company focussed on the identification, acquisition, development and operation of projects in Brazil. Crusader believes that Brazil is a vastly underexplored country with high potential for the discovery of world class mineral deposits. The company has already acquired a diverse portfolio of projects including gold, iron ore, tin, tungsten and uranium and continues to utilise its strong networks in Brazil to identify new opportunities.

Crusader is characterised by a tight corporate structure and features an experienced board of directors who are strongly focussed on the success of the company.



Contact

Crusader Resources Limited
Mr. Rob Smakman, Managing Director, Brazil
Office (Brazil): +55 31 2515 0740
Email: rob@crusaderdobrasil.com

Mr. Paul Stephen, Executive Director, Australia
Office (Aus): +61 8 9320 7500
Email: paul@crusaderresources.com