Crescent Doubles WA Gold Resource

13 August 2009 (Last Updated August 13th, 2009 18:30)

Crescent Gold has doubled its gold inventory in the Laverton province in Western Australia by signing an $8m deal to acquire assets of Barrick Gold and Carbon Energy. The deal boosts Crescent’s gold inventory to more than 2.1 million ounces of measured, indicated and inferred resources.

Crescent Gold has doubled its gold inventory in the Laverton province in Western Australia by signing an $8m deal to acquire assets of Barrick Gold and Carbon Energy.

The deal boosts Crescent’s gold inventory to more than 2.1 million ounces of measured, indicated and inferred resources.

The acquisition includes the Laverton Exploration Joint Venture, which comprises the Chatterbox and Beasley Creek gold deposits, and sole ownership of the Lancefield deposit, Crescent said.

The combined assets deliver an aggregate of 1.1 million ounces, representing a purchase price of about A$7 a resource ounce, Crescent said.