Goldstar Completes Detailed Field Work and Prepares for Permitting and Diamond-Drilling on Its Lake George Property in New Brunswick, Canada
MONTRÉAL, QUÉBEC--(Marketwired - Aug. 8, 2016) -
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Goldstar Minerals Inc. ("Goldstar" or the "Corporation") (TSX VENTURE:GDM) - The Corporation is pleased to announce that detailed ground geophysics and geochemical surveys were completed on its Lake George Property, located in New Brunswick, Canada. Goldstar is focused on developing deposits that contain technology metals such as high-value tungsten, tellurium, antimony, tin and bismuth, in leading mining jurisdictions in Canada.
Geosig Inc. from Québec City, Québec was commissioned last July to perform an induced polarization (IP) survey consisting of 19.1 line-kilometers at every 25 meters stations covering the most prominent anomalies identified in the previous airborne geophysical survey completed last May.
A total of 404 samples, consisting of 394 soil and 10 outcrop samples, were collected along and near IP lines at 50 metre intervals by Goldstar's own geological team. All samples were sent for assaying to Actlabs at their Fredericton facilities.
Preliminary IP interpretation has outlined large and strong responses of kilometric size that coincide with most of the geophysical anomalies identified by the airborne survey. In addition, the Corporation has received initial soil sample results. A strong gold and tellurium geochemical anomaly was outlined, near a magnetic anomaly in the southwest portion of the property. Gold and tellurium values, respectively of 50 ppb and 8 ppm, were obtained. This anomaly reveals that gold and tellurium are respectively 16 and 8,000 more abundant than their crustal average.
Upon receiving the bulk of soil and rock sample assay results, Goldstar will undertake a thorough compilation of these new and detailed data with the goal of selecting and determining approximately 10 to 15 accurate and high-priority diamond-drill targets. Shortly after, Goldstar will then apply for trenching and drilling permits this month. Access for drilling is excellent all year long and easy logistics are expected.
Benoit Moreau, President and CEO of Goldstar comments: "The IP survey has identified anomalies much longer and larger than expected, supporting the presence of new kilometric structures that were outlined in the previous and recent geophysical airborne survey. These structures were never been drilled and the incorporation of new geochemical data will soon complete the targeting process. Goldstar plans to begin its first diamond drilling program at Lake George in the next few weeks."
The technical information contained in this news release has been reviewed and approved by Benoit Moreau, P.Eng., CEO and director of the company. Mr. Moreau is a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
On behalf of the Board of Directors of
GOLDSTAR MINERALS INC.
Benoit Moreau, Chief Executive Officer
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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.