Thursday, September 20, 2007


Sep. 20, 2007 (Canada NewsWire Group delivered by Newstex) -- TORONTO, Sept. 20 /CNW/ - Goldcrest Resources Ltd. ('Goldcrest', 'the Company'), (GCL-TSX.V) is pleased to announce continuing success from the current diamond drilling program at its Gaoua copper-gold project in southern Burkina Faso, West Africa.

Assay results have been received from three more holes drilled on the Gongondy target (S31 to S33GON/07) and five holes (S63 and 64DIE/07, S69-71DIE/07) drilled on the Dienemera target (see  http://files.newswire.ca/329/Figure_1.doc). The program commenced in April (see News Release of 5 April, 2007) with the objective to test several targets for copper-gold porphyry style mineralization in two main areas; Gongondy, in the Souhouera property, and Dienemera-Mont Biri, in the Malba property.

The drill holes and assay results at both Gongondy and Dienemera confirm the presence of copper-gold mineralization hosted by hydrothermal breccia, which show porphyry copper characteristics. The results obtained from three holes in Gongondy confirm the extension of the mineralization, as identified by previous holes, to the west. Highlights include 116m @ 0.37%Cu and 0.25g/t Au (S32GON, this hole bottomed in mineralization), including 23m @ 0.79%Cu and 0.45g/t Au and 26m @ 0.75%Cu and 1.11g/t Au (S33GON).

The results obtained from the holes in Dienemera confirm the presence of wide mineralized intervals, while a new prospective area has been identified by a hole (S71DIE) designed to test a coinciding geochemical-ground magnetic anomaly. Best intercepts include 122m @ 0.56%Cu and 0.26g/t Au (S64DIE), 61m @ 0.44%Cu and 0.19g/t Au (S69DIE).


Significant drill intercepts from this program are listed in the table below.



>



The above intersections are based on a 0.3% Cu cut-off with no top cut applied. Internal dilution (less than 0.3 % Cu) has been carried out to a maximum of 3m except for the wider (+50m) intervals, where the maximum internal dilution is 18m (259 to 277m) in hole S32GON/07, 5m (23-28m) in S64DIE/07 and 9m (39-48m) in S69DIE/07.

The above assay results were obtained on HQ and some NQ sized core sampled at one metre intervals, on average (the visually less mineralized intervals were sampled at 2m intervals), and cut in half using a diamond saw. One-half of the core was archived at the core storage facility on site while the other half was sent to Abilab Burkina S.A.R.L, Ouagadougou/Burkina Faso (subsidiary of ALS Laboratory Group) for standard preparation (crushing, pulverization, split) and gold fire assay on 50g charge. Copper was assayed by atomic absorption at the ABILAB facilities in Bamako/Mali, while multi-element analysis, aimed at characterizing the mineralization, is being carried out by ICP-MS by the ALS Laboratory Group in the Republic of South Africa (results pending). The accuracy of the results was tested through the systematic inclusion of standards (Ore Research and Exploration, Australia, (OREAS) Cu-Au and OREAS multi-element standards) and field blanks. Standards were inserted every 25 samples and blanks every 30 samples. From a QA/QC perspective, the initial review of results suggests this is a satisfactory and reliable data set.



>



To date all the holes drilled at Gongondy during the initial drilling program have been assayed and results have been received for Cu and Au. The holes identified copper-gold mineralization over the entire length of the tested area, extending over more than 1.5km from hole S22 in the south to holes S29 to 31 in the north (see  http://files.newswire.ca/329/Gongondy_Dh_Geol_2.jpg). Further drilling will be needed to test whether the mineralization is continuous, hosted by one large breccia, or whether it is contained in a set of contiguous breccia bodies. Drill results obtained to date suggest that the northernmost target is richer in gold, inferring a zoning in the mineralization. An on-going expansion program will also test the mineralization for extensions.


DIENEMERA


The high-grade copper-gold mineralization is confined to hydrothermal breccias, hosted by quartz diorite and/or diorite porphyry intrusions. The breccia-hosted mineralization, intersected by all holes, is genetically related to the porphyry complexes as part of a porphyry copper-gold system and is largely hosted by diorite porphyry intrusions.



>



The above +1m intersections are based on a 0.15g/t Au cut-off with no top cut applied. Internal dilution (less than 0.15g/t Au) has been carried out to a maximum of 3m as indicated.

Currently, drilling continues on the Gongondy target, where a 2,500m drilling expansion program is being carried out (see news release of August 30, 2007). The drilling at Gongondy aims at identifying extensions and at testing the continuity of the +1.5km long mineralized area as identified by the initial drilling campaign. The north-south oriented mineralization is, as known to date, open to the north, south and west.

This drilling campaign is being funded by Freeport-McMoRan Exploration Corporation (formerly Phelps Dodge Exploration Corporation), a subsidiary of Freeport-McMoRan Copper & Gold Inc., as part of its earn-in (see news release of 21 November, 2006).

Under the guidelines of National Instrument 43-101, the qualified person for the Gaoua copper-gold project is Mr. Guy Franceschi, Vice President Exploration. Mr. Franceschi is a member of the European Federation of Geologists and has reviewed and approved the contents of this news release.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Except for the historical statements contained herein, this news release presents 'forward-looking statements' within the meaning of Canadian securities legislation that involve inherent risks and uncertainties. Forward-looking statements include, but are not limited to, statements with respect to the closing of the transaction, the acquisition of Gidgee Gold Project and Aphrodite Gold Project by Apex and the strategy and plans of Apex. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Goldcrest to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to international operations, risks related to the integration of acquisitions; risks related to joint venture operations; actual results of current exploration activities; actual results of current or future reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold and other minerals and metals; possible variations in ore reserves, grade or recovery rates; failure of equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the management and officers of Goldcrest Resources Ltd. believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Goldcrest does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws. Trading in the securities of Goldcrest Resources Ltd. should be considered highly speculative.


%SEDAR: 00017848E




Newstex ID: PRN-0001-19710757


Delivered by Newstex LLC
via theFinancials.com