Redstar Intersects 343 g/t Gold Over 0.6 Metres and 33.8 g/t Gold over 0.5 Metres
2011年11月2日 - 9:00PM
Marketwired
Redstar Gold Corp. (TSX VENTURE:RGC) is pleased to report bonanza
grade gold results from the on-going drilling program at the Newman
Todd property in the Red Lake Gold District, Ontario. The work is
being funded by the operator, Confederation Minerals Ltd.
(Confederation) (TSX VENTURE:CFM). To date, 49 drill holes totaling
19,000 metres have been completed in 2011. Drilling has focused on
the Newman Todd Structure (NTS) where gold mineralization has been
discovered over a strike length 1.6 kilometres. Results include a
14.3 metre interval with two high grade intercepts of 343g/t gold
over 0.60metres and 33.8 g/t gold over 0.5 metres.
Highlights:
-- Hole NT-083 intersects a 14.30 metre wide zone with two high grade
intercepts: 343 g/t gold over 0.60 metre and 33.80 g/t gold over 0.50
metre.
-- Hole NT-084 intersects 6.76 g/t gold over 3.0 metres including 13.90 g/t
gold over 1.0 metre.
-- Hole NT-080 intersects 1.18 g/t gold over 32.0 metres including 10.91
g/t gold over 1.0 metre.
Hinge Zone Discovery
Latest results continue to highlight the high-grade potential of
the "Hinge Zone" area of the NTS where 12 of 13 holes have returned
high-grade intervals, over a strike length of approximately 450
metres. This new high-grade discovery has many of the earmarks of
the "High Grade Zone" (HGZ) in Goldcorp's Red Lake mine located 27
kilometres to the southeast (Fig 1:
http://media3.marketwire.com/docs/RGC1102-map1.pdf). These include
a similar structural setting, open space quartz filling with native
gold, gold associated with silica-sulphide replacement zones and
broad zones of iron-carbonate alteration. Sections and initial 3D
modeling can be found on the Company's web site
(www.redstargold.com).
Scott Weekes, President of Redstar, stated: "We are extremely
excited with the continued high-grade results from the Newman Todd
gold project. The new Hinge Zone discovery has very strong
geological similarities to the High Grade Zone of the world-class
Red Lake Mine, and offers Redstar shareholders tremendous potential
for a new Red Lake District gold discovery. The 343 g/t gold
intersection in hole NT-083 is the highest grade intercept from the
project and one of the highest grade intersections in the Red Lake
District outside of the main mine areas. The two high grade
intercepts in hole NT-083 are separated by 10 metres of waste but
the entire 14.3 metre interval averages 16.06 g/t gold. Management
is highly encouraged and focused on further development of the
Hinge Zone with the ongoing program to unlock the potential of this
emerging gold discovery."
Table of results from nine recently completed holes
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Hole From (m) To (m) Gold (g/t) Width (m) Section
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NT-078 240.00 261.00 1.18 21.00 1900
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NT-078 including 246.00 251.00 3.51 5.00 1900
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NT-078 and including 246.00 247.00 8.01 1.00 1900
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NT-079 387.00 394.00 1.00 7.00 2300
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NT-079 410.00 411.00 4.78 1.00 2300
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NT-080 132.00 157.00 1.35 25.00 1900
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NT-080 including 132.00 133.00 5.69 1.00 1900
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NT-080 and including 154.00 156.00 5.91 2.00 1900
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NT-080 and including 155.00 156.00 8.94 1.00 1900
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NT-080 175.00 207.00 1.18 32.00 1900
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NT-080 including 181.00 182.00 10.91 1.00 1900
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NT-080 and including 186.00 187.00 7.24 1.00 1900
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NT-081 103.00 104.00 7.44 1.00 1950
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NT-081 255.00 260.00 2.51 5.00 1950
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NT-082 161.00 170.00 1.95 9.00 2350
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NT-082 and including 169.00 170.00 5.98 1.00 2350
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NT-082 182.00 183.00 6.37 1.00 2350
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NT-082 289.50 304.50 1.01 15.00 2350
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NT-083 251.70 252.30 343.00 0.60 1950
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NT-083 264.00 267.00 11.10 2.00 1950
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NT-083 including 265.50 266.00 33.80 0.50 1950
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NT-084 242.00 257.00 2.49 15.00 2150
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NT-084 including 246.50 254.00 4.06 7.50 2150
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NT-084 and including 251.00 254.00 6.76 3.00 2150
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NT-084 and including 251.00 252.00 13.90 1.00 2150
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NT-084 372.00 373.00 6.99 1.00 2150
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NT-085 315.00 335.00 1.66 20.00 2100
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NT-085 including 323.50 324.00 7.52 0.50 2100
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NT-085 and including 325.50 326.00 9.17 0.50 2100
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NT-085 and including 334.00 335.00 7.16 1.00 2100
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NT-085 357.00 358.00 9.08 1.00 2100
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(i) Width is calculated as core length and does not imply true width of
the zone. Weighted average gold intervals apply a 0.25 g/t lower cut-
off. Internal dilution within reported intervals does not exceed core
lengths of two metres unless otherwise indicated.
(ii) Cross sections are spaced 25 metres apart across the entire NTS,
Section 1375 marks the centre of the Heath Bull Zone.
Discussion of Results
Geological mapping and geophysics has defined a broad warp or
fold of the NTS that has been termed the Hinge Zone. Initial 3D
modeling within the Hinge Zone indicates multiple, northwest
dipping gold zones that show continuity across a 450 metre section
of the Hinge Zone and remain open at depth. In addition to modeling
the high-grade gold intervals within the NTS, the company is also
beginning to model the wide zones of lower grade gold
mineralization often associated with the high grade. In addition to
the high-grade results, the latest results include 32 metres of
1.18 g/t and 25 metres of 1.35 g/t gold.
Exploration work at the Newman Todd project is funded by
Confederation Minerals Ltd. (Confederation) (TSX VENTURE:CFM).
Confederation can earn a 50% interest in the project by spending
$5.0 million in exploration by November 2013, and an additional 20%
by producing a Preliminary Economic Assessment (PEA) by November
2016. During the earn-in period, Confederation is the operator of
the project.
Core samples from the program were cut in half, using a diamond
cutting saw, and were sent to Activation Laboratories Ltd. in Red
Lake Ontario, an accredited mineral analysis laboratory, for
analysis. All samples were analyzed for gold using standard Fire
Assay-AA techniques. Samples returning over 3.0 g/t gold were
analyzed utilizing standard Fire Assay-Gravimetric methods.
Certified gold reference standards, blanks and field duplicates
were routinely inserted into the sample stream, as part of
Confederation's quality control/quality assurance program.
Bob Singh, P.Geo. is the qualified person as defined by National
Instrument 43-101 and has reviewed this news release. Mr. Singh has
been engaged through a third party service provider by
Confederation Minerals Ltd. to manage the project, and is also the
Canadian 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, results from a recently completed
drill program are expected shortly, and an aggressive drill program
is ongoing at 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. Tim Mikula Business Development
604.488.0051 604.488.0053
(FAX)tmikula@redstargold.comwww.redstargold.com
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