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Red Crescent Resources Limited (RCB.TO) today provided an update on its activities from those reported October 1, 2012.

The Company has made good operational progress on its Hakkari Zinc Project enabling it to become a cash generating asset in the immediate term. Mine production from open pit operations on the Uzumlu (Pentagon) license commenced in mid-September and to date has generated approximately 1,100 tonnes of DSO (Direct Shippable Ore). This DSO is in the process of homogenization and is scheduled to be shipped as the first export lot in November 2012 for delivery to the final receiving smelter.

The delivery of the Dense Media Separation (DMS) process plant and all related auxiliary equipment to its operational location in Hakkari along with its required services infrastructure (including water and electricity) was completed in October. Start-up and commissioning of the unit is now in progress to enable production of saleable concentrates from the enrichment of non-DSO materials mined, as soon as possible.

Management, along with a mandated Board member, are in discussions with interested parties to monetize the Sivas and Tufanbeyli projects which might include entering into joint venture arrangements, sale of part or all of a property or further exploration as additional cash resources become available.

At 4.5 cents, Red Crescent is trading near yr lows.

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