TORONTO, ONTARIO–(Marketwired – Oct. 26, 2015) – Canstar Resources (Canstar) (TSX VENTURE:ROX) is pleased to announce the discovery of a new showing on its Kenora Gold Project with rock grab samples returning assays of up to 283.3 g/t gold. The discovery was made 1.2 kilometers south of the historic Black Sturgeon showing and 800 meters southwest of the historic Black Sturgeon South showing. Other grab samples from the discovery area yielded significant values of 15.7 g/t and 4.7 g/t, with numerous additional samples grading above 0.8 g/t Au. This is the second phase of a 2015 exploration program on the Kenora Gold Project, the successful results for the first phase having been announced on July 28, 2015.
Several highlights of this most recent program, including the above developments, are:
- The discovery of a new high grade showing yielding grab samples up to 283.3 g/t gold
- 20 of 168 grab samples returning gold values greater than 1 g/t
- 6 grab samples returned very high gold values ranging from to 7.9 g/t to 283.3 g/t
- 56 of 168 grab samples returned anomalous gold values (0.1 g/t) or greater
The upper 90 percentile of these results (19 grab samples) have 1.1 g/t or better, averaging 5.2 g/t, and continues to demonstrate the high grade nature of the gold occurrances on the project.
Table 1 shows the top 20 grab samples ranked by gold values:
Table 1. Ranked gold values for Kenora Project 2015.
|Sample ID||Au g/t||Comments|
|258009||3.36||Black Sturgeon Trend|
|258010||2.56||Black Sturgeon Trend|
|258067||2.02||Black Sturgeon Trend|
“The project continues to expand both in its scope and potential”, says Danniel Oosterman, President and CEO of Canstar. “The discovery of this new showing confirms the potential of this project, and supports further exploration to understand the extent of the showings in all directions including at depth. Perhaps most interesting from these results is that 11 of the top 25 gold bearing grab samples are not solely associated with quartz veining but occur in volcanic and sedimentary rocks; this adds much greater potential for discovering thick, extensive gold-bearing systems.”
The new showing appears to occur along a parallel structure to the Black Sturgeon trend to the north, which will also be the subject of further exploration in future programs.
As of this release, a work program is currently underway to follow up on these results. This program will involve mechanical trenching of the previously reported Aviator Trend and the Black Sturgeon Trend. The newest showing is slated for trenching in Spring of 2016 as there is insufficient time to obtain permits before the end of the 2015 field season. The Company intends to complete a winter program including geophysics in order to define drill targets for the 2016 exploration season.
QP and Quality Control
“Significant Assays” as mentioned in this Press Release are based on statistically significant results determined by plotting data in normal probability plots to ascertain background and anomalous values. Quantile values of “mean” +1 standard deviation are considered anomalous and therefore significant. Canstar observes a quality control program for all of its exploration work according to best practices in the industry from sample shipment and preparation to data collection and analyses. Laboratory analyses were completed by Accurassay Labs, who are an accredited lab under Standards Council of Canada to the internationally recognized ISO/IEC 17025 guidelines.
Danniel Oosterman, P.Geo is President and Chief Executive Officer of Canstar, is a Qualified Person as defined by NI 43-101 and is responsible for the technical information in this release.
On behalf of the Board of Directors,
Danniel J. Oosterman, P.Geo, President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release. This News Release includes certain “forward-looking statements”. These statements are based on information currently available to Canstar, and Canstar provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements that describe Canstar’s future plans, objectives or goals, including words to the effect that Canstar or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Forward-looking statements are based on Canstar’s assumptions regarding, among other things, results of exploration, project development, reclamation and capital costs of Canstar’s mineral properties, capital markets activities, and Canstar’s financial condition and prospects. As these statements address future events and conditions, by their very nature they involve inherent risks and uncertainties, and so Canstar’s actual results could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Canstar’s activities; and other matters discussed in this News Release. This list is not exhaustive of the factors that may affect any of Canstar’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Canstar’s forward-looking statements. Canstar does not undertake to update any forward-looking statement that may be made from time to time by it or on its behalf, except in accordance with applicable securities laws.
Danniel J. Oosterman, P. Geo.
President & CEO
Canstar Resources Inc.
Director of Corporate Communications