Goldstar reports partial assay results from its Lake George Property in New Brunswick, Canada
30 November 2019 - 4:03AM
Goldstar Minerals Inc. (“
Goldstar” or the
“
Corporation”) (TSX-V: GDM) is pleased to announce
that drilling results from the first seven (7) holes of its third
phase diamond drilling program completed last October on its Lake
George Property, located in New Brunswick, Canada, have been
received and compiled. Final results from the remaining three (3)
holes are expected to be disclosed by mid-December 2019.
Potential Intrusion-Related Gold System
(“IRGS”) environment, suggesting the presence of granodiorite
intrusions nearby.
Hole LG-19-07 was drilled to a depth of 375
metres and encountered a wide zone approximately 150 metres wide
starting at 150 downhole. The zone had anomalous gold, copper,
bismuth and tellurium within metasediments. Although no
granodiorite was intersected, these results suggest that an
intrusion could be present nearby.
Hole LG-19-08, which is located 500 metres
northwest of hole LG-19-07, and, was drilled to a depth of 241
metres, intersected a 8.3 metre wide granodiorite dyke between 155
and 163 metres. This dyke is altered and mineralized with
disseminated sulfides throughout the 8.3 metre interval.
Both holes LG-19-07 and LG-19-08 suggest that a
granodiorite intrusion may be located nearby, thus requiring
additional diamond drilling. No granodiorite was intersected in the
other holes.
Gold results
Several gold values were intersected within
metasediments as follows:
- LG-19-07: Ten (10) scattered gold
values over 0.1 g/t were intersected, including 0.42 g/t over 2
metres, 0.22 g/t over 3 metres, 0.45 g/t over 1 metre and 0.44 g/t
over 1 metre. Most gold values are strongly associated with
increased copper, bismuth and tellurium;
- LG-19-03: A gold value of 0.98 g/t
was intersected near the bottom of the hole.
Gold assays were performed at Agat Laboratories
located in Mississauga, Ontario using fire assay. True width of all
these intervals is unknown. Standards and blanks were inserted in
every 25 samples.
Tungsten results
With the exception of a few scattered values, no
tungsten was intersected in these first 7 holes.
However, the remaining 3 holes from LG-19-08 to
LG-19-10 intersected wide and strongly mineralized intervals,
containing sulfides and scheelite (the main tungsten bearing
mineral at Lake George) that can be easily detected by an UV lamp.
Again, Goldstar expects the remaining assays by mid-December 2019
that could confirm the extent of possible gold and tungsten
mineralization.
Tungsten assays were performed at Agat
Laboratories located in Mississauga, Ontario using sodium peroxide
fusion followed by an ICP finish. Standards and blanks were
inserted in every 25 samples.
Next steps
The Corporation will report the final remaining
assays by mid-December, 2019 and will then determine the
appropriate exploration strategy to follow up on these results.
Benoit Moreau, President and CEO of Goldstar
comments: “These results showed that the Corporation was able to
further constrain the area where a granodiorite intrusion could be
intersected. The geological team has taken and recorded extensive
structural measurements during the course of this drilling program
that could help finding granodiorite intrusions and understanding
possible associated gold mineralization.”
Disclosure
The technical information contained in this news
release has been reviewed and approved by Benoit Moreau, P.Eng.,CEO
and director of the Corporation. Mr. Moreau is a qualified person
as defined by National Instrument 43-101, Standards of Disclosure
for Mineral Projects.
For further information, please contact:
Benoit MoreauPresident and Chief Executive
OfficerTelephone: 514-591-8058bmoreau@goldstarminerals.com
François PerronVice-President of Corporate
DevelopmentTelephone: 416-312-4811fperron@goldstarminerals.com
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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.
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