Goldstar Minerals Completes Filing for Permitting and Prepares for Diamond-Drilling on Its Lake George Property in New Brunswick, Canada
MONTRÉAL, QUÉBEC--(Marketwired - Sept. 21, 2016) -
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Goldstar Minerals Inc. ("Goldstar" or the "Corporation") (TSX VENTURE:GDM) -
The Corporation is pleased to announce that notices of diamond drilling work have been delivered to the New Brunswick government and private landowners. Goldstar has met all the landowners with respect to the upcoming drilling program and expects to finalize all agreements in the next few days. Final permits for diamond drilling should be received shortly.
The Corporation plans to begin its first phase diamond drill program by mid-October 2016 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.
Goldstar will be reusing existing lumber and old drill roads to minimize environmental impacts and required tree cutting with excellent access to every drill target. The Corporation is also making arrangements for renting an existing core handling facility and will shortly ask quotations from potential drilling contractors for its 3,000 metre drilling campaign.
Final induced polarization ("IP") ground survey interpretation has outlined a large and strong anomaly of at least 1,000 metres by 1,000 metres in size that flanks the eastern margin of a magnetic anomaly, previously identified by the airborne survey. Goldstar has also collected additional outcrop samples in the vicinity of that large IP anomaly that is now the main focus of the drilling program.
Upon receiving all soil and rock sample assay results, Goldstar will complete the high-priority targeting process for determining accurate drill hole locations in the next few days, prior to commencing its drilling program upon receipt of final drill permits. The Corporation expects to release its first diamond drilling results in November 2016.
Benoit Moreau, President and CEO of Goldstar comments: "The Corporation is very pleased with the support provided by private landowners for its first phase diamond drilling program as permitting has become one of the main issues for exploring and developing mineral projects nowadays. Our geological team is also getting very excited with the prospect of drilling very promising targets 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.