• Large land position in a highly prospective, emerging gold belt

• Surface assays up to 232 g/t gold

• Project is host to Linda/Snow White Vein Zone - defined over 170 metres strike length and up to 5 metres wide - open in all directions

• Significant drill intercepts of up to 19.5 g/t gold over 1.15 metres including 63.3 g/t gold over 0.35 metres

• Strong similarities to the Bendigo-Ballarat Gold District in Australia -- an area over 22 million ounces of past gold production

Geology

The project is underlain by sedimentary rocks (mudstone, greywacke) and lesser volcanic rocks (mafic, rhyolite tuff) of the Victoria Lake Group. These rocks are stratigraphically overlain by the Carodocian black shale sequence, which separates rocks of the Victoria Lake Group to the south from overlying Ordovician to Silurian siliciclastic sediments of the Badger Group to the north. Younger felsic plutonic rocks of the Hodges Hill granite and the Skull Hill intrusion locally intrude all rocks. Several minor gabbroic dykes and sills also cut the stratigraphy.

Exploration Work

Crosshair first completed a high-resolution magnetic-EM helicopter airborne survey over approximately 60% of the property. In 2004, Crosshair completed a soil geochemistry survey collecting a total of 4077 soil samples. Follow-up prospecting led to the discovery of the Linda/Snow White prospect, an area of mineralized float with initial grab samples up to 10 g/t gold. Trenching by Crosshair at the Snow White prospect was successful in exposing a composite quartz vein system over a strike length of approximately 170 metres and up to 5 metres in width. Highlights of the sampling include up to 29.7 g/t gold over 0.5 metres channel samples and grab samples of up to 232 g/t gold.

A 16 hole (1016 metre) drill program was completed by Crosshair in 2006, to test the trench sample results from late 2005. The drilling intersected the mineralized Linda and Snow White vein system with assays up to 19.5 g/t gold over 1.15 metres, including 63.3 g/t gold over 0.35 metres. The vein system at South Golden Promise appears to lie at the same stratigraphic level and on a structure related to the Jaclyn system (on the Golden Promise Project), located 25 kilometres to the northeast.

Technical Report

Click here for the complete NI 43-101 technical report on the Golden Promise Project (PDF 11.0MB)