Crusader shares tumble despite 'significant results' at Jurueana gold project

AIM-quoted minerals exploration and development company Crusader Resources provided investors with an update on its Jurueana gold project on Friday following a recent drilling campaign at three previously un-drilled prospects within the license.

Crusader's initial 2018 exploration programme over its "highly prospective and high grade" Juruena and Novo Astro projects, announced on 16 January, is focused on several new targets identified in line with the main trend in the Juruena Project region, using smaller drilling rigs suitable for operation during the wet season.

The dual-listed firm's programme represented approximately 250 metres of diamond drilling across five holes at an average depth of 50 metres with "significant results" ranging between 0.60 and 12.22 grams of gold per ounce.

Marcus Engelbrecht, managing director of Crusader Resources, said, "I am delighted to be able to provide an update on the recent drilling campaign at Juruena, where we have generated positive results from three new prospects. Juruena is a very exciting project, located within the highly prospective Alta Floresta belt that is generating significant interest from major mining companies. We look forward to updating shareholders on further progress at Juruena as the project develops."

As of 1345 BST, Crusader shares had tumbled 10.20% to 2.20p.