MONTRÉAL, QUÉBEC–(Marketwired – Nov. 9, 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 it has received the first set of results from the trenching at its Lake George Property, located in New Brunswick, Canada. The current trenching program is following numerous previously identified gold bearing structures (see August 10, 2017 press release). Highlights are detailed below.
|Trench number||From – To:||Interval||Gold assays (g/t)|
|LG-T-17-01||43.0 – 46.0 m||3.0 m||0.5|
|LG-T-17-01-bis||13.0 – 14.5 m||1.5 m||6.8|
|LG-T-17-10||19.5 – 21.0 m||1.5 m||1.1|
|48.0 – 49.5 m||1.5 m||1.0|
|LG-T-17-27||11.5 – 16.0 m||4.5 m||1.0|
Trench LG-T-17-27 with 1.0 g/t Au over 4.5 m confirms the potential for wider disseminated gold bearing alteration zones.
This trench follows up an outcrop sample that graded 0.8 g/t Au and is characterized by mineralization associated to strongly altered metasediments, containing finely disseminated sulfides in a sericitized and hematized matrix. This material is similar in nature to that found in the WLF Zone located 1.6 km to the east where outcrops averaged approximately 1.0 g/t Au (see October 3rd, 2017 press release).
Trench LG-T-17-27 shows mineralization over the largest interval to date and the trench was constrained by topography rather than geology.
Trench LG-T-17-01-bis samples 6.8 g/t Au over 1.5 m – the highest grade found on surface to date since the start of the project.
This trenching was following up the gold-bearing interval in hole LG-16-06 that returned 1.1 g/t Au over 1.0 m (press release 2017-02-09). The host rock is lightly altered metasediments with significant quartz veining (vein widths of 5-10 cm). High levels of bismuth (558 ppm) were also reported.
Trench LG-T-17-10 followed up hole LG-16-03 where tungsten and intermittent gold values were obtained. Of interest in the channel is the identification of mineralization (1.1 g/t Au over 1.5 m) in a strongly chloritized, sericitized and hematized breccia vein in the interval from 19.5 to 21.0 m. This breccia vein contained finely disseminated sulfides which reinforces the possibility of gold being associated with finely disseminated sulfides. In addition, this material may be related to the hematite breccia roughly 200 m to the north and the WLF Zone 600 m to the east.
Benoit Moreau, President and CEO of Goldstar comments: “We are very pleased with the progress achieved to date. We have confirmed the presence of gold in multiple surface outcrops and trenches. Of particular interest is the fact that the strongly altered gold bearing metasediments, containing finely disseminated sulfides in a sericitized and hematized matrix that we have found at the WLF Zone, are similar in nature to those found in trench LG-T-17-27. This represents a target area over 1.6 km wide. We are waiting for further results from trenching and prospecting in other areas nearby. The exploration team is presently assessing the next exploration campaign and how we advance the knowledge that we have gained from our surface work and apply that to areas of potential that are covered by overburden.”
Assays were performed at AGAT Laboratories located in Mississauga, Ontario using conventional Au fire assay. These are channel samples that are not necessarily representative of the mineralization hosted on the property. Four (4) standards were inserted every 100 metres for QC/QA procedures. No duplicates or blanks were inserted.
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.
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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.
President and Chief Executive Officer