(TheNewswire)
Vancouver, B.C. - TheNewswire – May 13, 2021? Crest Resources Inc. (CSE:CRES) (CNSX:CRES.CN) (“Crest” or the “Company”) ispleased to announce that the March 29 th drill program has beenincreased to 42 drill holes from the original 35 that were planned.Based on the favorable stratigraphic lithologies intersected in thefirst 29 drill holes at the Allaru Vanadium project, (“Allaru” orthe “project”) AusVan Battery Metals Pty Ltd. (“AusVan”) hasexpanded the drill program to the north west to include additionalshallow shale hosted vanadium targets. Crest holds a 60% interest inAllaru through AusVan, it’s 60% owned Australian subsidiary.
The Allaru Project is a resource stage Vanadium deposit withadditional potential for High Purity Alumina (“HPA”) located incentral Queensland, Australia.
Crest has scheduled a conference call on May 19th to discuss the valueand opportunities in the vanadium sector in relation to thedevelopment of the Allaru deposit located in Queensland, Australia. Conference call details are found below.
President Michael Collins comments, “Crest is pleased with theresults of the initial drilling at Allaru, and has expanded theprogram as we move to define additional oxidized vanadium resources.We see tremendous opportunity in AusVan to be a part of the greenenergy market. AusVan is yet another of our projects that are buildingvalue for our shareholders.”
The Allaru Vanadium Deposit is hosted in the shallow dipping vanadiumshale of the Toolebuc Formation. The Toolebuc Formation is projectedto break surface on a N-NW trending arch that crosses the claimpackage. The current drilling is focused on the extension of knownvanadium enriched shales where it is expected to encounter oxidizedvanadium shale.
Crest Schedules a conference call onVanadium
Topic: Crest Resources - AusVan Vanadium
Time: May 19, 2021 01:30 PM Vancouver
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Meeting ID: 928 1178 2644
Passcode: 103492
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Allaru Vanadium Project
Covering 1,088 km 2 , the AllaruVanadium Project is located 80km north of Julia Creek in centralQueensland, Australia. The base metals mining center of Mt. Isa, andregional airport is located 230km to the west. The Mt. Isa railnetwork passes through Julia Creek with connections to Charters Towersand Townsville and Port Abbot at Bowen allowing for low cost shipping.The area has a hot dry climate with flat lying topography and iseasily accessible by road and near existing power.
As part of it’s purchase, AusVan also holds rights to an advancedmetallurgical process flow sheet designed for an adjacent PFS levelVanadium/HPA project which also targets Toolebuc Formation VanadiumShale and is located 40 km south west of the Allaru Project. Thechemistry of the vanadium shale of these two projects is very similarin major and minor elements. AusVan has commissioned Brisbane MetLab to conduct bench scale metallurgical work seeking to optimize theprocess for recovery of vanadium from Allaru Vanadium shale.
The technical portion of this news release was reviewed and approvedby Mr. Nicholas Rodway, P.Geo. and VP Corporate Development, aqualified person as defined under definition of NI 43-101.
About Crest Resources Inc.
Crest Resources Inc. is a British Columbia companylisted on the Canadian Securities Exchange under the symbol CRES. TheCompany’s principal business activity is the acquisition,exploration and evaluation of mineral property assets in Canada,Australia and Peru and the investment in mineral exploration companiesand related mining technologies of merit. The Company’s Canadianassets include various land and corporate ownership positions withinthe Exploits Subzone, the newest emerging district-scale goldexploration and mining district in the province of Newfoundland andLabrador, mineral recovery systems with 3RC/Ecomine/Gemina Labs,copper and gold exploration in the Toodoggone with Volatus Capital,and Vanadium projects in northwestern Australia with AusVanBattery Metals Pty .
FOR FURTHER INFORMATIONCONTACT:
Michael Collins
President and CEO
Crest Resources Inc.
Telephone: +1- 778 - 819 - 2709
Neither the Canadian SecuritiesExchange nor its Regulation Service Provider (as the term is definedin the policies of the Canadian Securities Exchange) acceptsresponsibility for the adequacy of accuracy of this newsrelease.
Forward-Looking Statements
This news release contains certain forward-lookingstatements, which relate to future events or future performance andreflect management’s current expectations and assumptions. Suchforward-looking statements reflectmanagement’s current beliefs and are based on assumptions made byand information currently available to the Company. Readers arecautioned that these forward-looking statements are neither promisesnor guarantees, and are subject to risks and uncertainties that maycause future results to differ materially from those expectedincluding, but not limited to, market conditions, availability offinancing, actual results of the Company’s exploration and otheractivities, environmental risks, future metal prices, operating risks,accidents, labor issues, delays in obtaining governmental approvalsand permits, and other risks in the mining industry. All theforward-looking statements made in this news release are qualified bythese cautionary statements and those in our continuous disclosurefilings available on SEDAR at www.sedar.com. These forward-lookingstatements are made as of the date hereof and the Company does notassume any obligation to update or revise them to reflect new eventsor circumstances save as required by applicable law.
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