TORONTO, March 26, 2013 /CNW/ - Alacer Gold Corp. ("Alacer") [TSX:ASR, ASX:AQG] is pleased to announce a number of significant results returned from its ongoing exploration programs in Australia.
Alacer's management believes its 3400km 2 tenement holding along the +100 million ounce Kalgoorlie to Norseman gold belt has the potential to deliver significant exploration success and has committed to a substantial $36 million exploration budget in Australia for 2013. The ongoing exploration program currently has eight drill rigs in operation in the Higginsville and South Kalgoorlie areas.
Recent Exploration Highlights
Alacer's 2013 exploration program commenced in mid January and highlights of work completed to date include:South Kalgoorlie
- Location 48 Significant shallow (< 30m below surface) high-grade gold mineralization has been discovered over a two square kilometer area just three kilometers from the Jubilee processing plant; and
- SBS28 Area High-grade gold mineralization has now been intersected over 200m below the lowest levels at both the historical Barbara and Surprise underground mines.
- Challenge Further high-grade mineralization discovered in a >1km long bedrock structure at the Jupiter Prospect;
- Eundynie Multiple, shallow, high-grade gold intersections at the Hidden Secret Prospect; and
- Vine Multiple high-grade gold zones intersected at depths up to 800m below the base of the Vine pit.