Redstar Discovers New Gold Zone on the Cooks Creek Project, Cortez Trend-Nevada
2011年10月24日 - 9:00PM
Marketwired
Redstar Gold Corp. (TSX VENTURE:RGC) and Catalina Metals Corp. (TSX
VENTURE:CTX.H) (Catalina) are pleased to report the discovery of
significant new gold mineralization identified from surface
sampling at the Cooks Creek project on the Cortez gold belt in
Nevada. Exploration costs are being covered by Catalina, who is
earning an interest (see March 2, 2011 news release) in the Cooks
Creek project. The new "Dinner zone" contains rock-chip samples
with values up to 2.45 g/t (0.071 ounces per ton) gold along a
district-scale fault. The zone is about 750m south of
previously-defined gold mineralization at the Main zone and has not
been drill tested.
Catalina has completed a geological mapping and sampling
program, a geophysical survey and attempted two reverse circulation
drill holes. Both holes were terminated prematurely, well above
their target depth, but did intersect strongly anomalous arsenic,
mercury, antimony and gold. No drilling has been completed at the
Dinner Zone, and initial drilling plans are being made to drill
this prospective area.
Cooks Creek consists of approximately 3.7 square miles of
unpatented mining claims 100%-owned by Redstar covering areas of
outcropping sediment-hosted gold mineralization. The project is 8
miles west of the world-class Pipeline mine operated by Barrick
Gold Corp.
The Main zone covers an area of at least 2,900 by 2,500 feet
(890 x 760m) with surface rock-chip assays reaching 1.26 g/t gold.
The zone contains strongly anomalous arsenic, mercury, and antimony
(which locally occurs as stibnite), elements characteristic of
Carlin-type gold deposits such as nearby Pipeline-Cortez.
Historical drilling also intersected gold mineralization, including
21.3m (70 feet) grading 2.317 g/t gold (0.068 opt) from 18.3 to
39.6m. Gold mineralization at the Main zone remains open along
strike and depth and is located along at least two
northeast-striking faults separated by about 300m.
The newly-identified Dinner zone is an area of silicified and
brecciated chert and quartzite, located along a northeast-trending
fault that is parallel to structures controlling gold
mineralization at the Main zone. The size of the Dinner zone at
surface is uncertain due to extensive alluvial cover, which
conceals the mineralization, but it appears to be at least 300m
long by 40m wide. Of 31 rock-chip samples collected in the area, 17
exceed 0.1 g/t gold, 6 exceed 1 g/t gold, with a high of 2.45 g/t
gold, and these sample results are higher than surface values at
the Main zone. Trace elements indicate a favorable Carlin-type gold
signature, with strong arsenic (up to 5750 ppm), mercury (up to 57
ppm), and antimony (up to 933 ppm) with low silver, lead and
zinc.
Induced-polarization (IP) geophysics has been completed along a
2.2km line that crosses the structures controlling the Main and
Dinner zones. The survey aided in the delineation of important
faults at depth and identified a significant IP anomaly under the
fault controlling the new Dinner gold zone. This anomaly, possibly
the result of deep elevated sulfide content, provides additional
support for drill-testing this new zone.
Based on the encouraging findings at the new Dinner zone, an
amendment has been submitted to the Bureau of Land Management for
additional drill sites along the Dinner and Main zones. Catalina
plans to complete six to nine drill holes in late 2011 at the two
zones.
Dr. Jake Margolis a qualified person as defined by National
Instrument 43-101 and has reviewed this news release. Dr. Margolis
is the US Exploration Manager for Redstar Gold Corp.
About Redstar Gold Corp.
Redstar recently acquired a high-grade epithermal gold district
in Alaska that is a good complement to the high-grade gold
discovery in Red Lake, Ontario. The Shumagin project in Alaska
includes a high-grade gold deposit with a non 43-101 compliant
resource, a bulk tonnage non 43-101 compliant resource, a historic
high-grade gold mine, and numerous high priority exploration
targets. At the Shumagin project in Alaska a drilling program is
currently underway, and an aggressive drill program is ongoing on
Redstar's high-grade gold discovery at the Newman-Todd project in
Red Lake, Ontario. Along with the high-grade gold projects in
Alaska and Red Lake, the company also has a total of 14 gold
focused projects in Nevada.
On Behalf of the Board,
Redstar Gold Corp.
Scott Weekes, President
Forward-Looking Information This release includes certain
statements that may be deemed "forward-looking statements". All
statements in this release, other than statements of historical
facts, that address events or developments that Redstar Gold
Corporation (the "Company") expects to occur, are forward-looking
statements. Forward-looking statements are statements that are not
historical facts and are generally, but not always, identified by
the words "expects", "plans", "anticipates", "believes", "intends",
"estimates", "projects", "potential" and similar expressions, or
that events or conditions "will", "would", "may", "could" or
"should" occur. Although the Company believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results may differ materially from
those in the forward-looking statements. Factors that could cause
the actual results to differ materially from those in
forward-looking statements include market prices, exploitation and
exploration successes, and continued availability of capital and
financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees
of future performance and actual results or developments may differ
materially from those projected in the forward-looking statements.
Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are
made. Except as required by applicable securities laws, the Company
undertakes no obligation to update these forward-looking statements
in the event that management's beliefs, estimates or opinions, or
other factors, should change.
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.
Contacts: Redstar Gold Corp. - Corporate Inquiries Tim Mikula
Investor Relations
604.488.0051tmikula@redstargold.comwww.redstargold.com
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