TriStar Gold Inc. (the Company) has received the results of
eighteen (18) more holes completed in the second phase diamond
drilling at the Company’s 100% owned Castelo de Sonhos Gold Project
in the Tapajos region of Para state, Brazil. Results received
relate to infill drilling at the Esperança South and Esperança
Center targets and first time drilling at the Esperança East
target.
These results confirm and expand the mineralization at Esperança
South to the north and down dip; enhance the prior results and
define an open ended mineralized zone of 1,000 meters at Esperança
Center; and provide encouragement at Esperança East.
The second phase of drilling at Castelo de Sonhos started on
July 17th with two drill rigs. Results have now been received for
33 holes of the revised program of 53 holes for a total of 6,100
meters. This second phase drilling campaign is scheduled to be
completed by November 20th, 2012.
Seventeen of the eighteen holes encountered mineralization, only
hole CSH-63 did not. The table below shows the most significant
intercepts for those holes. Hole CSH-48, already reported, is
included again as it was drilled in the Esperança East target,
rather than Esperança South target as previously reported.
Esperança South Target Hole
Intercept (Au) From (m)
To (m) Final Depth
(m) CSH-49 2.00 m at 1.99 g/t
0.00 2.00
114.25 CSH-50 1.90
m at 2.87 g/t 3.10
5.00 100.55 CSH-51
2.00 m at 1.01 g/t 12.00
14.00
100.10 CSH-53 2.00 m at 0.77 g/t
14.00 16.00
153.25 2.00
m at 0.72 g/t 28.00
30.00 CSH-54 2.00
m at 1.74 g/t 41.00 43.00 100.75
3.50 m at 0.96 g/t 62.50
66.00 CSH-55
2.00 m at 0.72 g/t
103.00 105.00
183.35 CSH-57 2.00 m at 0.96 g/t 50.00 52.00 125.55
2.00 m at 3.78 g/t 58.00 60.00 14.00 m at 0.41 g/t 70.00 84.00
8.00 m at 1.02 g/t
88.00 96.00
CSH-58 4.00 m at 1.27 g/t 14.00 18.00 121.60
2.00 m at 2.23 g/t 60.00 62.00 5.00 m at 4.29 g/t 76.00 81.00
3.25 m at 1.05 g/t
100.75 104.00
CSH-59 1.50 m at 0.71 g/t 15.00 16.50
120.25 2.00 m at 5.74 g/t
95.00 97.00
Esperança Center Target Hole
Intercept (Au)
From (m) To (m)
Final Depth (m) CSH-56
2.00 m at 1.35 g/t 109.00
111.00 165.15 CSH-60 2.00
m at 0.77 g/t 14.00 16.00 61.25 5.00 m at 2.47 g/t 34.00 39.00
2.00 m at 1.45 g/t
54.00 56.00
CSH-61 2.00 m at 5.60 g/t 7.00 9.00 101.85
2.00 m at 0.74 g/t 27.00 29.00
2.00 m at 0.96 g/t 86.00
88.00 CSH-62
4.00 m at 4.86 g/t
71.00 75.00
125.65 CSH-64 2.00 m at 0.74 g/t 72.00 74.00 126.55
6.00 m at 6.60 g/t
117.00 123.00
CSH-65 2.00 m at 1.42 g/t 94.00 96.00 178.60
2.00 m at 1.16 g/t
144.00 146.00
CSH-66 2.00 m at 1.38 g/t 68.00 70.00
119.50 2.00 m at 1.09 g/t
78.00 80.00
Esperança East Target CSH-48
2.00 m at 1.14 g/t 117.00 119.00 139.50 1.75 m at 1.19 g/t 123.00
124.75 11.00 m at 0.64 g/t
117.00
128.00 CSH-52
4.45 m at 0.74 g/t 63.00
67.45
145.95
All holes were drilled inclined between 45 to 55 degrees of the
horizontal and were planned to intercept mineralization at right
angles.
The principal goals for the second phase drilling at the
Esperança South and Esperança Center targets are to add more drill
holes in previously drilled sections and fill in and extend the
drilling grid in these targets. The drill holes at Esperança East
are the first investigative holes in this target.
At Esperança South, the results confirm and expand the results
of the previous holes drilled in this target. Holes CSH-58 and
CSH-59, located South of CSH-43 confirm the continuation of the
mineralization in the northern portion of Esperança South. Hole
CSH-57 is the deepest hole in this target and combined with other
holes in the same section, confirms continuous mineralization up to
200 meters down dip. Mineralization at Esperança South is still
open to the South and to the North, where the mineralization has a
strike length of 2,600 meters inside a soil geochemistry anomaly
which extends for over 5,500 meters.
At Esperança Center, the current results enhance the previous
drilling results, and a mineralized zone of approximately 1,000
meters has now been defined at this target. The strong geochemical
anomaly continues further north for at least another 1,500 meters
and further drilling will be planned for this area.
At Esperança East, the initial results are encouraging and
additional drilling is needed to better define the mineralization
in this target.
“These drilling results keep confirming and expanding the
previous results at Esperança South and are now also enhancing the
results at Esperança Center. At both targets, the mineralization is
still wide open to the South and to the North. At Esperança East,
we are just starting to investigate its mineralization, which is
inside a soil geochemistry anomaly of approximately 2,000 meters
long. More work and drilling is needed in all these targets within
the outline of the strong soil anomalies,” Vice President of
Exploration, Elton Pereira, said.
Mark E. Jones, III, Chairman and CEO of TriStar stated: “The
continued success of our drilling is very encouraging and we await
the results from 20 more drill holes. It is clear that we have
encountered an extensive area of mineralization which is still
open-ended and we intend to aggressively continue to explore these
targets.”
Castelo de Sonhos is a property where gold mineralization is
hosted in proterozoic conglomerates similar to those encountered at
comparable gold deposits also associated with proterozoic
conglomerates, like Jacobina in Northeastern Brazil and Tarkwa in
Ghana (Western Africa).
Sampling Procedures
The recovered HQ and NQ size cores were split in half by a
standard rock saw. One-half was sent to the laboratory in intervals
not greater than 2 meters in length and cut depending on geologic
parameters. The remaining half-core was stored on site. The samples
were bagged in batches of forty (40) samples and sent from the
project site to the city of Parauapebas (Carajás), where SGS-Geosol
Labs has a sample prep facility.
All samples were dried at 60°C, 100% crushed to 95% minus 2mm
and homogenized.
For those samples in which visible gold was not identified, a
split of 250-300g aliquot was taken and pulverized to 95% minus 150
mesh, from where a new split of 50g aliquot was taken to be
analyzed by fire assay/atomic absorption.
For those samples in which visible gold was identified, to
minimize the nugget effect, a minimum of 1 Kg was pulverized to 95%
minus 150 mesh and sieved in a 150 mesh sieve. The oversize was
weighed and analyzed by fire assay/atomic absorption. The undersize
was weighed, homogenized and two aliquots of 50g were split to be
analyzed by fire assay/atomic absorption. Balance between weights
and assays of the oversize and undersize resulted in sample’s final
assay.
For both types of preparation, the pulps were airfreighted to be
assayed at SGS-Geosol lab in Vespasiano, Minas Gerais state. In
addition to the laboratory quality control, TriStar has added its
own certified standard, and checks each 10 samples.
Mr. Rodrigo Mello, FAusIMM, a qualified person as defined in NI
43-101, has read and approved the technical portions of this
release.
About TriStar:
TriStar Gold is a well-financed gold exploration company focused
on high-potential properties in Brazil. In addition to Castelo de
Sonhos, TriStar holds another exploration project in the Tapajós
district known as the Bom Jardim Property. The Company’s shares are
listed on the TSX Venture Exchange under the symbol TSG-V. Further
information is available at www.tristarau.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. No stock exchange, securities commission
or other regulatory authority has approved or disapproved the
information contained herein.
Forward-Looking Statements
Certain statements contained in this press release may
constitute forward-looking statements under Canadian securities
legislation which are not historical facts and are made pursuant to
the "safe harbour" provisions under the United States Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are based upon the Company's reasonable expectations and
business plan at the date hereof, which are subject to change
depending on economic, political and competitive circumstances and
contingencies. Readers are cautioned that such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause a change in such assumptions and the actual
outcomes and estimates to be materially different from those
estimated or anticipated future results, achievements or position
expressed or implied by those forward-looking statements. Risks,
uncertainties and other factors that could cause the Company's
plans to change include changes in demand for and price of gold and
other commodities (such as fuel and electricity) and currencies;
changes or disruptions in the securities markets; legislative,
political or economic developments in Brazil; the need to obtain
permits and comply with laws and regulations and other regulatory
requirements; the possibility that actual results of work may
differ from projections/expectations or may not realize the
perceived potential of the company’s projects; risks of accidents,
equipment breakdowns and labour disputes or other unanticipated
difficulties or interruptions; the possibility of cost overruns or
unanticipated expenses in development programs; operating or
technical difficulties in connection with exploration, mining or
development activities; the speculative nature of gold exploration
and development, including the risks of diminishing quantities of
grades of reserves and resources; and the risks involved in the
exploration, development and mining business. The Company disclaims
any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise.
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