Redstar Gold Expands New Hinge Zone High-Grade Discovery, Red Lake District, Ontario: 11.25 Metres of 5.75 g/t Gold Including...
23 November 2011 - 12:00AM
Marketwired
Redstar Gold Corp. (TSX VENTURE:RGC) is pleased to report
high-grade drill 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 Confederation Minerals Ltd. (Confederation)
(TSX VENTURE:CFM), the operator during the earn-in period. To date,
52 drill holes totaling 20,000 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 of 1.6
kilometres, and is where the new Hinge Zone high-grade discovery is
located. The Hinge Zone has many similarities to the High Grade
Zone in the main Red Lake mine (owned by Goldcorp) 20 kilometers to
the east.
Scott Weekes, President of Redstar, stated: "We are extremely
pleased with results from the 2011 drill program; the results to
date have shown good continuity of the gold mineralizing system
along the entire drilled area. In addition to the exceptional
high-grade gold system in the Hinge Zone, we are also starting to
see surrounding wider zones of gold mineralization with bulk
tonnage potential. The grades and widths of our drilling
intersections are comparable to those being intersected at
Goldcorp's High Grade Zone, where narrow drill hole intercepts of
high-grade account for a significant portion of the gold reserve
and resource (Goldcorp NI 43-101 report, dated January 15, 2011).
It is important to point out that with the nature of this style of
high-grade gold mineralization; significant potential can exist at
depth as seen at the key gold deposits in Red Lake including
Goldcorp's Main Red Lake Mine. The next phase of drilling will
focus on developing a better understanding of the gold zones in
three dimensions - ahead of initial resource modeling. The gold
zones remain open in all directions."
Highlights from seven recently completed drill holes:
-- Hole NT-087 intersects 10.60 g/t gold over 0.50 metre and 15.90 g/t gold
over 1.00 metre and 11.25 g/t gold over 5.75 metres including 97.80 g/t
gold over 0.50 metre and 12.80 g/t gold over 1.00 metre.
-- Hole NT-087 also intersects 58.00 metres of 1.11 g/t gold.
-- Hole NT-089 intersects 10.40 g/t gold over 1.0 metre.
-- Hole NT-090 intersects 28.80 g/t gold over 1.0 metre.
-- Hole NT-091 intersects 11.60 g/t gold over 1.0 metre.
Drill hole NT-087, drilled into the Hinge Zone, intersected five separate
high-grade gold intervals, and an additional wide interval of 1.11 g/t gold
over 58.0 metres.
Table of results from seven recently completed holes:
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Hole From (m) To (m) Au (g/t) Width (m) Section
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NT-086 239.00 239.50 3.41 0.50 2150
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and 302.00 303.00 3.33 1.00
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and 337.00 340.00 2.17 3.00
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including 338.00 339.00 4.66 1.00
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and 367.00 372.00 1.07 5.00
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including 369.00 370.00 3.98 1.00
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and 428.00 429.00 3.98 1.00
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and 472.00 473.00 3.15 1.00
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and 486.00 487.00 3.56 1.00
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NT-087 237.00 241.00 3.11 4.00 2100
-----------------------------------------------------------------
including 238.50 240.00 6.97 1.50
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and including 239.00 239.50 10.60 0.50
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and 249.00 250.00 15.90 1.00
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and 279.75 291.00 5.75 11.25
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including 280.35 280.85 97.80 0.50
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and including 290.00 291.00 12.80 1.00
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and 354.00 412.00 1.11 58.00
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including 363.00 371.00 0.04 8.00
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and including 358.00 359.00 7.24 1.00
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and including 379.00 380.00 6.72 1.00
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and 384.00 392.00 2.23 8.00
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and 396.00 403.00 2.00 7.00
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NT-088 339.00 340.00 3.26 1.00 1325
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and 345.00 346.00 4.20 1.00
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NT-089 48.00 49.00 3.19 1.00 2450
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and 187.00 188.00 10.40 1.00
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and 240.00 241.00 7.65 1.00
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NT-090 37.00 46.00 1.06 9.00 2450
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including 38.00 39.00 4.29 1.00
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and 76.00 77.00 7.08 1.00
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and 86.00 97.00 1.00 11.00
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and 187.00 197.00 1.02 10.00
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and 255.00 262.00 1.08 7.00
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and 276.00 282.00 1.84 6.00
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and 314.00 315.00 28.80 1.00
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and 321.00 326.00 1.64 5.00
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NT-091 60.00 66.50 3.01 6.50 1325
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including 60.00 61.00 16.40 1.00
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and 341.00 390.00 0.97 49.00
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including 377.00 380.00 3.07 3.00
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and including 389.00 390.00 11.60 1.00
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NT-092 weakly anomalous (drilled outside of the NTS)
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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:
This latest batch of results, are from drill holes within the
Hinge Zone (NT-087 and NT-086), which continue to show wide spread
high-grade gold mineralization, within the central part of the NTS.
Holes 88 and 91 were drilled in the northeastern part of the NTS,
approximately 400 metres northeast of the Hinge Zone; holes 89 and
91 were drilled in the southwestern part of the NTS, approximately
400 metres southwest of the Hinge Zone.
Gold mineralization continues to be associated with veining and
silica/sulphide replacement zones, within the widespread
Iron-carbonate alteration system, of the NTS. These zones have been
intersected along the entire drilled strike length of the NTS - now
approximately 1.6 km of the total projected 2.2 km strike length.
The Hinge zone represents a major bend within the NTS, where it is
proposed that hydrothermal fluids are more focused, and thus gold
mineralization is more continuous. This same model is proposed for
the NTS at depth were it is expected to be a more focused
structure, and thus have an increase in gold bearing hydrothermal
fluid movement.
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 has two key gold projects, including 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. - Corporate Inquiries Tim Mikula
Business Development 604.488.0051 604.488.0053
(FAX)tmikula@redstargold.comwww.redstargold.com
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