Project Description
Crusader Resources Ltd. (“Crusader” or “the Company”) is a junior mineral exploration company organized and existing under the laws of Western Australia, Australia. The Company is focused on the development of the Borborema Gold Project (“Borborema” or the “Project”) located in Rio Grande do Norte, in Northeastern Brazil. Borborema, Crusader’s flagship project, is an advance gold exploration project which has a gold resource of 2.43Moz of which 1.6Moz (@1.18 g/t) are classified as reserves. The Project is at the feasibility stage and Crusader is currently conducting an optimization study to determine the Project’s optimal size. The Project hosts the old San Francisco mine which operated in the 1980s and produced 100,000 ounces of gold.
IFC’s investment will support the optimization study on Borborema and further exploration in the Serido belt in which the Project is located.