Company Information for Crusader Resources Ltd

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Company Statement

Crusader Resources Ltd (ASX:CAS) (Crusader) is a minerals exploration company focussed on the identification, acquisition and development of projects in Brazil and Australia. 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 iron ore, gold, 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.

Current Operations

Posse Iron Project
Posse is located in Brazil's World Famous Iron Quadrilateral region of Minas Gerais state and is a low capital cost project with no infrastructure bottlenecks and simple logistics. Posse contains an Indicated Mineral Resource of 4.83Mt at 47.39% Fe and an Inferred Mineral Resource of 31.18Mt atm 42.89% Fe. (Refer to ASX announcement made 11 May 2009)

Located less than 30km from the capital of Belo Horizonte -also known as the mining capital of Brazil, Belo has a population of over 4 million people, an experienced mining workforce, contract mine operators and excellent infrastructure including an international airport and over 100 pig iron smelters within less than 180km radius of the project.

The project is based on the use of bulk open pit mining methods and a processing plant dry treating up to 1Mtpa of iron ore for the first 12-24 months of mine life.  A high grade lump will be produced during this first stage.

A further 8 years of mine life at a rate of ~1Mtpa is proposed following approval of an expanded treatment license- allowing for wet beneficiation. Sales of lump, pellet feed and fines are expected during the second stage.

Posse site activities are continuing, with earthworks for drainage and the beneficiation plant nearing commissioning. 

Crusader has been granted authorisation to complete site works whilst awaiting the granting of the operating license.

Borborema Gold Project
The Borborema gold project is the most important gold project in the NE of Brazil with historical production of ~300,000 ounces. In August 2010, Crusader announced a maiden JORC compliant resource estimate at Borborema (at a 0.5g/t cut-off) of 2.51Mt @ 2.37g/t for 191 kozs Indicated and 11.36Mt @ 1.47 g/t for 537 kozs Inferred for a combined Indicated and Inferred resource estimate of 13.88Mt @ 1.63g/t for 728 kozs Refer to ASX announcement made 25 August 2010). 

Crusader recently initiated an extensive drilling program at Borborema with one Reverse Circulation and two diamond drill rigs operating. All rigs are drilling 24 hours a day, 5 and half days a week.  A total of 10,000m of drilling is planned to be completed before the end of year.

Geographical Spread

Brazil and Australia

Board of Directors and Key Management

Board of Directors
David Archer	Chairman
Robert Smakman	Managing Director
Murray Hodges	Non-Executive Director
Paul Stephen	Executive Director
Justin Evans	Non-Executive Director
Management
Mike Schmulian	Chief Operating Officer
Aidan Platel	Exploration Manager
Christopher Stephens	Geological Consultant
John Foreman	Geological Consultant
Andrew Beigel	Company Secretary

Company Address PO Box 692 Perth, Western Australia, Australia 6872 Telephone: +61 8 9320 7500 Website: http://www.crusaderresources.com

Additional Address/Key Contact Brazil Office Avenida Cajazeiras, 108 Manaira – 58038-040

Capital Ordinary Shares 76,283,514 Options 10,545,000

Year End 30th June

Related News

19/04/11 - Crusader Resources Should Shortly Go Through The Million Ounce Mark At The Borborema Gold Project In Brazil
18/11/10 - Crusader Resources Offers London Its Favourite Dish: Near Term Production, With Longer Term Upside
26/10/10 - Crusader Resources Offers Investors Impending Iron Ore Production And A Million Ounce-Plus Gold Target In Brazil

Most Recent Statement

01/04/11 - Drill Program expanded by 50% at Borborema
24/02/11 - Notice of General Meeting/Proxy Form
17/12/10 - Significant new gold intersections boost Borborema potential
12/10/10 - Posse Iron Ore Project Update
01/10/10 - Full Year Statutory Accounts
07/09/10 - Drilling underway at Borborema Gold Project