MONTRÉAL, April 11, 2018 (GLOBE NEWSWIRE) -- Goldstar Minerals Inc. (“Goldstar” or the “Company”) (TSX-V:GDM) is pleased to announce that the permitting is now complete as all private landowners have been consulted with respect to the upcoming drilling program on its Lake George Property, located in New Brunswick, Canada. The Company expects to begin its second phase diamond drill program in early June, focusing its efforts on the Coyote and WLF gold zones. Goldstar plans a 2,500 metre drilling program that would consist of approximately 10 holes.
The exploration team is putting the final touches on defining drill targets. New and recently acquired ground gravity data have been incorporated in the compilation process. Two gravity anomalies of interest were outlined. The first is a large and relatively strong anomaly in an unexplored area in the western part of the property, near the contact of the Hawkshaw batholith with the metasediments. The second, a relatively low anomaly, seems to be correlated to the possible extension of the WLF gold zone to the southeast. This latter anomaly will be quickly verified by prospecting in the field and may constitute a prime drill target as it could expand the WLF gold zone to a one kilometre strike length along a north south axis. It is too early to understand how this potentially north south system relates to the mineralization found in outcrop near the Coyote fault along an east west fault over a distance of approximately 1.6km.
Next steps
Goldstar has also initiated additional permitting with new landowners in the areas of new gravity anomalies for ground prospecting, and possible trenching and diamond drilling.
The Company expects to begin the preparation of drilling sites in late May by using existing lumber and old drill roads as much as possible to minimize environmental impact and required tree cutting.
Benoit Moreau, President and CEO of Goldstar comments: “The Company is very pleased with the completion of the permitting process and the integration of the new ground gravity survey data. Our geological team is now gearing up for final compilation and targeting, prior to the drilling campaign.”
Disclosure
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.
For more information, please contact:
Benoit Moreau
President and CEO
514-591-8058
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François Perron
Director
416-312-4811
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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.
