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MONTREAL, QUEBEC–(Marketwired – Aug. 10, 2017) –
NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES
Goldstar Minerals Inc. (“Goldstar” or the “Company”) (TSX VENTURE:GDM) is pleased to announce that a detailed trenching program has commenced on its Lake George Property, located in New Brunswick, Canada. The current trenching program is following numerous previously identified gold bearing structures. A recently completed and very detailed ground magnetic survey will allow the exploration team to identify structural controls and to optimize ongoing trenching efforts.
Understating Waterloo Lake Fault Zone disseminated mineralization
One of the primary objectives of the current trenching will be to characterize the nature and scale of the surface mineralization found at the Waterloo Lake Fault Zone. Recall that within this newly-identified Waterloo Lake Fault Zone, four (4) samples returned gold values respectively of 0.5, 0.65, 0.72 and 1.41 g/t Au. (See Jan 25, 2017 press release). These samples all consisted of bleached metasediments with quartz-hematite veining and less than 1% of finely disseminated pyrite.
Coyote Fault Zone to be more fully investigated
The previous drilling campaign also led to the identification of gold bearing alterations along a newly identified zone.
“Near or within this newly-identified Coyote Zone, hole LG-16-02 ended with a gold-bearing intersection consisting of an enrichment margin roughly 15 metres wide with scattered gold values up to 0.21 g/t that leads to an interval grading 0.63 g/t Au (and 0.073% WO3) over 4.5 m. Hole LG-16-02 was drilled from a hematite breccia outcrop of unknown direction. This gold-bearing interval is either within or very close to (possibly less than 25 metres to the southwest) the major NW-SE interpreted Coyote Zone that runs through a series of lowlands and wetlands for at least 4.5 kilometres and trends 110-115°” press release February 9th, 2017.
Current trenching will investigate how these structures manifest themselves at surface to guide future exploration work.
Regional prospecting to continue
Having established several gold bearing structures and given the kilometric size of these structures, the exploration teams also plans to continue its prospecting to establish new potential zones
Based on the results obtained from trenching, Goldstar expects to begin a second diamond drill program at Lake George that will be carried out next in the fall of 2017. Access for drilling is excellent all year long and easy logistics are expected.
Benoit Moreau, President and CEO of Goldstar comments: “This trenching will both characterize known mineralized outcrop on the Waterloo Lake Fault Zone and give new insights around the Coyote Fault Zone and other potential zones. Armed with this new information, Goldstar plans to begin its second diamond drilling program at Lake George in the fall”.
The technical information contained in this news release has been reviewed and approved by Benoit Moreau, P.Eng., CEO and director of the company. Mr. Moreau is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
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 release.
This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
Goldstar Minerals Inc.
President and Chief Executive Officer
Thu, 10 Aug 2017 13:53:55 GMT