Goldstar Minerals to begin diamond-drilling in early June on its Lake George Property in New Brunswick, Canada
TSX VENTURE: GDM
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MONTRÉAL, QUÉBEC, May 22, 2018 (GLOBE NEWSWIRE) -- Goldstar Minerals Inc. (“Goldstar” or the “Company”) (TSX-V:GDM) is pleased to announce that the Company is putting the final touches on the targeting process and expects to soon begin its diamond drilling program on the Lake George Property, located in New Brunswick, Canada. Field crews are being mobilized and, once site preparation is completed, drilling is expected to begin in early June. Goldstar plans a 2,500 metre drilling program that would consist of approximately 10 to 12 holes.
Investigating the gold mineralization found in surface outcrop.
The current program is focused on following up extensive surface mineralization found in the 2017 prospecting campaign to test the potential for a low grade large tonnage system.
These areas include the WLF zone, an area 100 m by 25 m, where an average of 1.0 g/t Au (see press release November 30, 2017) and the Coyote fault where outcrops sampled gold values from 0.3 to 0.8 g/t Au (see press release October 3, 2017) and trench LG -T-17-27 which sampled 4.0 m of 1.0 g/t Au (see press release November 9, 2017).
Prospecting to investigate some new gravity anomalies
The exploration team will also prospect the areas where new gravity anomalies have been identified. Depending on the results of this program, some drilling may be allocated to these areas.
Benoit Moreau, President and CEO of Goldstar comments: “The Company is very pleased with the completion of the recent financing where a total of $1.1 million was raised. The current drilling program should provide important insights as to the nature of the gold bearing alterations we have found at surface over a 1.6 km strike length at Lake George.”
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.
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President and CEO
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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.