TORONTO, ONTARIO–(Marketwired – Jan. 14, 2016) – Canstar Resources Inc. (“Canstar” or the “Company”) (TSX VENTURE:ROX) is pleased to announce that the last batch of results from its 2015 trenching and sampling program have been received. In addition to the Company’s high-grade assays announced on December 3rd, 2015, new high-grade gold results have been returned for samples taken from areas that had not been previously sampled, highlights of which include:
- Grab samples containing 65.1 g/t and 8.4 g/t Au taken just south of the Company’s Main Showing (“Ace”) which returned 2.0 g/t Au over 18m (see December 3rd, 2015 press release);
- A 3.46 g/t Au grab sample taken from a highly altered and rusted zone proximal to Ace Showing (required follow-up);
- Several test channels on the Aviator Trend containing up to 1.67 g/t Au over 0.7 meters.
- A new sulphide zone discovered 25 meters west of the Ace Showing
|Table 1. Channel (CH) and Grab (GR) samples from the Kenora Gold Project Ranked by Grade|
|Trend||Type||From (m)||To (m)||Length (m)||Au (g/t)|
These grab samples represent new areas of sampling which were inaccessible during the previous sampling campaigns and provide further evidence for the presence of extensive mineralized systems on the property. Sample GR-1126504, which returned the highest gold value to date from this trend, was sampled from a strongly chlorite-carbonate altered and oxidized outcrop (i.e. rust), with observed ribbon quartz vein-arrays occurring just south of the Main Showing. Also notable was the discovery of a sulphide zone 25 meters to the west of the Ace Showing which contained anomalous gold values (0.10 g/t Au) and is geologically compelling as it also indicates scale and size of the hydrothermal system in and around the showing, further enhancing its exploration potential.
Danniel Oosterman, Canstar’s President and CEO noted, “We consider the trenching program to have been a resounding success, and a great way to have capped off the 2015 field season. Not only have we discovered wide zones of gold mineralization of up to 18 meters wide, but all of the zones are still open for expansion, a goal which we intend to accomplish in 2016.”
The Company has recently completed its financing (see press release December 30th, 2015) and is now well-funded to continue exploration on the Kenora Project for the upcoming year, with intentions of bringing the project to a drill-ready status by mid-year.
Canstar Resources Inc. also announces that Mr. William Deluce has resigned as director of the Company. Mr. Deluce has served as a Director of Canstar since April 2005. The Board and management of Canstar would like to thank Mr. Deluce for his time and dedication to Canstar. Mr. Deluce has been a valued advisor to the board and management and we wish him well in his future business ventures.
The Company’s board is now comprised of John Hurley, Danniel Oosterman, David Palmer, Dennis Peterson (Chairman) and Patrick Reid.
QP and Quality Control
Channel samples were taken with a diamond blade saw at approximately 90 degrees to observed structural trends. Results reports are composited using weighted averages over the length of sample as reported. 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. Fire assay and Aqua Regia ICP analyses were completed by Activation Laboratories Ltd. (Actlabs) who are ISO 17025 accredited and/or certified to 9001: 2008.
Danniel Oosterman, P.Geo, is President and CEO of Canstar Resources, and is a Qualified Person as defined by NI43-101 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 Corporate Communications