Goldstar reports final assay results from its Lake George Property in New Brunswick, Canada
28 January 2020 - 3:02AM
Goldstar Minerals Inc. (“
Goldstar” or the
“
Corporation”) (TSX-V: GDM) is pleased to announce
that it has received and compiled drilling results from the last
three (3) holes of its third phase diamond drilling program
completed last October on its Lake George Property, located in New
Brunswick, Canada. Partial results from the first seven (7) holes
were disclosed in our press release dated November 29, 2019.
Potential Intrusion-Related Gold System
(“IRGS”) environment, suggesting the presence of granodiorite
intrusions nearby
Hole LG-19-07 encountered a 150 metre wide zone
that 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, intersected an 8.3 metre wide
granodiorite dyke. Although barren, 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 all intersected within
metasediments as follows:
- LG-19-08: Three (3) scattered gold
values of 0.49 g/t over 1 metre, 0.35 g/t over 1 metre and 0.48 g/t
over 1 metre;
- LG-19-09: A gold value of 0.98 g/t
Au over 1 metre;
- LG-19-10: A gold value of 0.39 g/t
Au over 3 metres.
Gold assays were performed at Agat Laboratories
located in Mississauga, Ontario using fire assay. These are
core samples that are not necessarily representative of the
mineralization hosted on the property. Standards and blanks were
inserted in every 25 samples. Tungsten results
Three (3) mineralized intervals all within
metasediments, from LG-19-08 to LG-19-10 containing sulfides and
scheelite (the main tungsten bearing mineral at Lake George) were
intersected as shown in the Table 1 below.
Table 1 – Tungsten mineralized intervals
Hole Number |
Azimuth |
Dip |
From (metres) |
To (metres) |
Interval* (metres) |
Tungsten WO3(%) |
LG-19-08 |
200° |
-45° |
170 |
241 |
71 |
0.15 |
LG-19-09 |
147° |
-45° |
96 |
108 |
12 |
0.05 |
LG-19-10 |
110° |
-45° |
96.5 |
106.5 |
10 |
0.40 |
* Reported drill intersections are not true
widths. At this time there is insufficient data with respect to the
mineralization to evaluate true orientations in space. This
mineralization is not necessarily representative of the
mineralization hosted on the property.
Tungsten assays were performed at Agat
Laboratories located in Mississauga, Ontario using sodium peroxide
fusion followed by an ICP finish. These are core samples that are
not necessarily representative of the mineralization hosted on the
property. Standards and blanks were inserted in every 25
samples.
Next steps
The Corporation will 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
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 (TSXV:GDM)
Historical Stock Chart
From Apr 2024 to May 2024
Goldstar Minerals (TSXV:GDM)
Historical Stock Chart
From May 2023 to May 2024